Ultimate Guide To Choosing the Right Hardwood Flooring for Your Home

 
 

When it comes to adding value and creating a warm, inviting atmosphere in your home, hardwood flooring is the way to go.

However, with so many different types of hardwood flooring available on the market today, finding the right one for your home can seem like an overwhelming task. To help make it easier, we’ve put together this guide to choosing the right hardwood flooring for your home. 

Types of Hardwood Flooring
There are three main types of hardwood flooring that you will encounter while shopping around – solid wood, engineered wood, and laminate wood. Solid wood is usually 3/4-inch thick and is made from one solid piece of wood all the way through; this type of flooring is best suited for homes on or above ground level. Engineered wood has a top layer made from real hardwood, but underneath, it consists of several layers of plywood that are glued together; this type of flooring works well in any room in the house because it is much more dimensionally stable than solid wood. Laminate wood is made from a high-density fiberboard core topped with a photographic image layer that looks like real wood; this type of flooring is best suited for rooms that don’t require regular cleaning. 

Installation Method & Price Range
Once you've decided which type of hardwood flooring you want in your home, you'll need to decide how much money you're willing to spend on installation and materials. Solid and engineered woods typically cost between $3-$15 per square foot, while laminate floorings cost between $1-$7 per square foot (including installation). As far as installation goes, some types need to be nailed down, while others can be floated on top of a subfloor - so make sure to check with your installer before making any decisions about which method you'd prefer.  

Maintenance Level & Durability
When selecting a hardwood floor for your home, it's important to consider both the maintenance level and durability factors associated with each type. For example, solid woods require regular waxing or sealing to keep them looking their best, whereas engineered woods need less maintenance due to their pre-finished layers. Laminate floors are known for their scratch resistance and easy maintenance since they don't need wax or sealant applied regularly. Lastly, all types of floors should be swept regularly and wiped up quickly if liquid spills occur in order to maintain their beauty over time. 

With so many different styles and types available on the market today, finding the right hardwood flooring option for your home can seem like an overwhelming task at first glance. However, by taking into consideration factors such as price range, installation method, maintenance level, and durability – you’ll be able to identify what type suits your needs best! Doing this research ahead of time will ensure that you get exactly what you want out of your new floors without having any regrets later down the road!

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5 Reasons Millennials Are Buying Homes

 
 

In the United States, there are over 72 million millennials. If you’re part of that generation and have thought about buying a home, you aren’t alone.

According to Zonda, 98% of millennials want to become a homeowner at some point if they aren’t already. But why? There are plenty of reasons you may choose to become a homeowner. Here’s why other millennials have made that decision (see graph below):

 
 

This graph shows why millennials are buying homes according to Zonda’s 6th annual millennial survey. The top reasons include building equity, a change in life stage, wanting stability, rising home values, and wanting to make somewhere truly their own. Here’s a look at each in more detail.

Building equity – Homeownership is a long-term investment that allows you to build wealth, increase your net worth, and become more financially stable. Beyond that, the alternative to owning a home is typically renting. With the way rents have risen so dramatically over time, it may make sense to build your own equity instead of the equity of the person you’re renting from.

A change in life stage – As a millennial, you’re reaching your prime homebuying years. That means you may be at the point where you need more space or a different location.

Stability or settling down – This could mean establishing your career or just generally deciding more concretely what you want your life to look and feel like. As that idea becomes clearer, you may want to establish that lifestyle in a particular place and put down roots.

Rising home values – By purchasing a home, you own an asset that traditionally increases in value over time. That can mean your home will have a higher resale value if you decide to move again.

Wanting to make somewhere “mine” – Owning a home gives a sense of freedom because you can customize it however you want, make updates as you see fit, and be yourself in a place that’s solely your own.

Bottom Line

There are plenty of great reasons why millennials are buying homes today. If you’ve thought about becoming a homeowner and any of these reasons resonate with you too, partner with a trusted real estate agent to explore your options.

Keep reading.

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Record apartment supply is good for mortgage rates

 
 

The housing starts data contains some good news.

What is the best news for mortgage rates long-term? It’s getting more supply of apartments! The best way to fight inflation is always by adding more supply; if your goal is to destroy inflation by killing demand, that is only a temporary fix.

Housing inflation post-2020 was one for the record books, not only because home prices accelerated in such a short time, but more importantly for the inflation data, rents took off, something that didn’t happen during the housing bubble years.

The government accounts for housing inflation by looking at rents, not home prices. The chart below is the CPI Shelter Index, and as you can see during the crazy years of the housing bubble, rent inflation was very tame compared to what we see in the data recently.

Since 44.4% of the Consumer Price Index is shelter inflation, it’s a massive deal in economics that rents took off in the last two years. Without rents taking off, the CPI data would look much more tame, like what we saw from the years 2000-2019.

As you can see in the chart below, core CPI wasn’t exploding at all this century until COVID-19 hit us. More supply of apartments coming on line will be good news for mortgage rates going forward. The history of global pandemics has always been inflationary early on, as the production of goods gets hit immediately. Then things tend to cool down over time from their inflationary peak level.

Over the next 12 months, the CPI data will account for the real-time cooling down of shelter inflation. And just like the data lagged early on when shelter inflation took off; the opposite will happen over the next year.

Tuesday’s housing starts data does show some promise on the front of attacking inflation and helping lowering mortgage rates, so let’s look at the report and find out what I am talking about.

First, however, remember that the housing market is still in a recession, which I wrote about on June 16, 2022. Housing permits have been falling as the builders simply have too much supply to be confident in building homes again. The housing market is still in a recession until housing permits rise in duration. Even though the builder’s confidence index has been rising recently, it still hasn’t led to a significant uptick in housing permits.

Keep reading on Housing Wire.

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This Weekend: Oklahoma Open Houses for April 22nd to 23rd

 
 

Our agents are hosting Open Houses this weekend all over the Oklahoma City Area.

You can find all of these listings on our website. Please reach out to the listing agent for information on times and more information on the listing!

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Just Listed: Classic Tudor with a Modern Twist in the 42nd/Helm Farm Community's First Property of Phase 1!

 
 
 

This modern take on a Classic Tudor architecture creates a timeless home that's built to last.

The home's entrance is open to the foyer and dining room, where you will find a fireplace and expansive windows. To the left, you will access your downstairs bedroom and bathroom suite. Thoughtfully designed open concept living and kitchen space with a large island, spacious pantry, mudroom, and a covered back porch. Upstairs you will find the primary suite complete with a soaking tub, large shower, double vanity, extended closet, and laundry room, along with two more bedrooms with a dual bathroom, extra storage, and a perfect reading nook or office. On the third floor you will find the second living, another spacious room that would make a great theater or workout room along with a bathroom and tons of storage spaces. Rear access from Helm Street to the two-car detached garage with a low maintenance yard and optional ADU. This is the first property of 5 in phase 1 of 3 in the 42nd/Helm Farm community.

Listed by Jarred Smith for West + Main Homes. Please Contact Jarred for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmainok.com

Presented by:
Jarred Smith
405-633-0037
jsmith@westandmainok.com