Hi,

I've been looking at either a laminate or engineered wood floor for
the living area of my flat. It's a large open area measuring
approximately 32sq ft.

I'll only be in my property for another couple of years so am
wondering whether there is any financial advantage when it comes to
selling the house if I go for the more expensive option.

There's mixed views so I was wondering what yours are, and whether
there are any facts you could present on this subject. I've read the
following on here already :

http://answers.google.com/answers/threadview?id=744925

But would like to get an answer from someone who's familiar with the
UK market. It's London / Kent specifically, actual area is Beckenham
and the flat is currently valued at approximately 215K.

Another advantage of engineered wood for me personally is that I could
install underfloor heating. As the flat has no central heating this
would be a big advantage and less costly and disruptive than getting
central heating.

Any help or advice you can give would be much appreciated.

Kind Regards

Daniel Simper

<Wood floors vs house value.

In terms of return on investment, making changes to internal décor
like installing a new floor is not cost effective. Adding laminate
flooring actually devalues a property by 2%. Surveys also show that
carpet is making a comeback over laminate flooring. However installing
central heating is a good investment that would increase the value of
the property. At an average of 7%, you could add about £15,000 by
installing central heating.

A survey by Direct Line Home Insurance has found that many home
improvements carried out actually devalue a home. According to
surveyors Habitus, installation of a laminate floor could reduce a
property?s value by 2%. With the average property valued at £192,745
in March, according to Land Registry figures, they could lose about
£3,800 when they sell their home.

According to Nationwide?s survey, installing central heating could add
a 7% premium to a house?s price.

Source: Home renovations ?can reduce resale value? by Hilary Osborne.
June 15, 2006. Guardian Unlimited.
http://66.249.93.104/search?q=cache:Q30oNhcp-FcJ:money.guardian.co.uk/property/homeimprovement/story/0,,1798562,00.html+%22property+values%22+%22laminate+flooring%22&hl=nl&ct=clnk&cd=2

Adding central heating adds 8.3% in value in London.
Source: Nationwide.
://www.google.com/search?hl=nl&rls=GGLG%2CGGLG%3A2006-26%2CGGLG%3Aen&q=%22nationwide%22+survey+%22central+heating%22&lr=

According to this report laminate flooring is number 18 in the top 20
loss makers in the home, reducing its value by £2,000.

Source:
How an avocado bathroom can slash your home?s value by £8,000. David
Ward. The Guardian. July 22, 2004. 
http://money.guardian.co.uk/houseprices/story/0,1456,1266300,00.html?=rss

According to this survey just over a third of homeowners choose to fit
new carpets, which are making a popular return over laminate flooring,
which is the fourth most popular improvement.
Source: Halifax
http://www.themoneypages.com/story.asp?storycode=9601&sectioncode=96

Carpets are making a return over laminate flooring which became all
the rage in 1998.
Source: Bank of Scotland?s home improvement survey. 2006.
http://thescotsman.scotsman.com/business.cfm?id=573282006

According to this survey of estate agents, internal décor ranks number
three in the list of worthless home improvements.
Source: Spicerhaart.
http://www.tiscali.co.uk/money/features/home_improve_value/2

Almost any kind of interior design work will cost you money and that
money will not be repaid to you when you eventually sell your house.
This includes money spent on fitting carpets, laying parquet flooring,
installing new electrical lighting, fitting a new bathroom suite and
installing a new kitchen. If it's not what your purchaser wants, it'll
just get ripped up.
Source: Adding value to your home. Motley Fool. May 17, 2006.
http://www.fool.co.uk/school/2006/sch060517.htm

A new kitchen tops the poll as the most remunerative home improvement,
with 71 % of the agents voting it as one of the three most worthwhile
additions to a home. This is followed by a new bathroom (53%) and a
conservatory (46%). Other popular home improvements include,
double-glazing, central heating, garage & parking space and loft
conversion.
Source: Spicerhaart.
http://www.tiscali.co.uk/money/features/home_improve_value.html

Jon Sykes, head of mainstream mortgage products at Halifax says: "With
any home improvement project planning is key. Changes that are purely
down to personal preference and a desire to have the latest 'must
have' features can strip value from your property when it comes to
selling it.

Central heating has been ranked as six out of ten by Halifax's
valuers, because it is assumed that there should be a decent central
heating system in a home. Indeed, a recent Halifax survey found that
the 'warmth factor' is now considered to be an essential feature of a
home and four fifths of respondents (80%) considered central heating
to be essential.
Source: Home improvements where they matter. Halifax.
http://www.easier.com/view/News/Property/article-53303.html>


<Search strategy :>

<"laminate floors" "property prices">
<://www.google.com/search?hl=nl&rls=GGLG%2CGGLG%3A2006-26%2CGGLG%3Aen&q=+%22laminate+floors%22+%22property+prices%22&lr=>

<"laminate flooring"  uk "the value">
<://www.google.com/search?q=+%22laminate+flooring%22++uk+%22the+value%22&hl=nl&lr=&rls=GGLG,GGLG:2006-26,GGLG:en&start=20&sa=N>

<"property values" uk survey "home improvements">
<://www.google.com/search?hl=nl&rls=GGLG%2CGGLG%3A2006-26%2CGGLG%3Aen&q=%22property+values%22+uk+survey+%22home+improvements%22&lr=>

<uk survey "home improvements">
<://www.google.com/search?hl=nl&rls=GGLG%2CGGLG%3A2006-26%2CGGLG%3Aen&q=+uk+survey+%22home+improvements%22&lr=>


<Hope this helps.>

Thank you kindly for the time and effort you've put into this, I will
take a good look through in detail later on. It seems like you've
focused much of your reserach floor wise on laminate where as my
preference on the floor was the engineered wood, I don't think I made
this clear enough tho.

From what I can read it's all relevant either way and the reserach and
links on home improvements should prove invaluable and relate to both
either way.

The search strategy you provide is also a great help

Thank again

I know housing in London is expensive, but it seems that you are
considering reflooring all of one room  - wall to wall.  32 square
feet is only 4 by 8, smaller than a king-sized bed.  ??

The questioner probably means 32 feet square, rather than 32 square feet.

Oh... my mistake metres!

Thank you kindly for the time and effort you've put into this, I will
take a good look through in detail later on. It seems like you've
focused much of your reserach floor wise on laminate where as my
preference on the floor was the engineered wood, I don't think I made
this too clear tho.

From what I can read it's all relevant either way and the reserach and
links on home improvements should prove invaluable and relate to both
either way.

Thank again