With a rise in people choosing to rent over paying a mortgage in Australia, there are many things to think about as the landlord of a property, and flooring is definitely one of them!
Finding the balance of longevity and price can be tricky while still keeping the floor looking attractive and presentable.
To help make life easier, we’ve made a list of 3 popular flooring choices for investment properties, along with their pros and cons.
Carpet:
Pros: If price point is a make or break for you, then look no further than carpet. With easy install and an average lifespan of 5-7 years, carpet makes for a perfect, comfortable, budget friendly option.
Carpet is also great for its acoustic and insulating qualities, keeping the heating bill down and making it ideal for both single and multi story homes.
Cons: The biggest downside for carpet, especially for families with small children and/or indoor pets is keeping it clean. Carpets are a lot more susceptible to stains and are not highly durable in high traffic walkways.
Vinyl Planks:
Pros: A little more expensive than carpet, but still affordable, Vinyl planks are a popular choice for being hard wearing, highly resistant to water and super easy to clean. Vinyl planks can be quickly and easily installed, with the added bonus of being able to replace individual planks in the event of damage occurring. Vinyl planks also have acoustic qualities, with thicker plank options that absorb more noise in multi story properties.
Cons: Whilst a lot more durable than carpet, vinyl planks are not completely scratch proof and can be damaged by hard, sharp objects when care is not taken.
Hardwood floors:
Pros: When it comes to durability, hardwood floors take the cake. Known for lasting a lifetime, hardwood floors can be refurbished a number of times, keeping them fresh and presentable over the years. Hardwood floors are moisture resistant, easy to keep clean and can add to the value of your property.
Cons: Hardwood floors are a lot more expensive than other flooring options and are not scratch proof, making them a lot more susceptible to damage from things such as high heeled shoes and vacuums. They are also not recommended for humid climates as hardwood planks can expand and contract.
At the end of the day any new flooring is going to add value to your property, you just have to consider the uses so as not to overcapitalise.