Difference in Value with the type of Flooring

Discussion in 'Property Finance' started by Martin Mariappan, 28th Nov, 2018.

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  1. Martin Mariappan

    Martin Mariappan Member

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    Hi
    I am currently building PPOR, South of Perth and I am thinking of having marble flooring for the ground floor. looking forward to hear from members who used marble flooring in Perth with 20 mm tiles? I am looking for rough cost estimate per square meter. Also, will the valuation of the property go up if I use marble flooring instead of timber laminate. Thank you in advance for your response.
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Does the area justify the use of marble? That is, are you in an upmarket/aspirational area or lower socio-economic suburb?
     
  3. Martin Mariappan

    Martin Mariappan Member

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    Scott
    Yes, The house is valued between 850 -1.1 M. I am thinking of refinancing up to 80% of the valuation after completion so It would be better for me if I can choose flooring that will improve the Valuation. Thanks
     
  4. mikey7

    mikey7 Well-Known Member

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    My house is ~$1.3m.. I don't think it's a 'marble floor' type house.
    My parents house is ~$2.8-3m. That is a marble floor house. And even then, only their grand staircase is actual marble.

    Are you looking at real marble or marble look?
     
  5. albanga

    albanga Well-Known Member

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    The floor will have little impact on the valuation. Most valuers probably wouldn’t even notice the difference between Marble and ceramic.

    I have had my house valued a few times and in comparables they say some other houses are superior. It’s laughable in comparison given the finishing of my home including all fully marbled wet rooms.
     
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  6. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    I agree. Most valuers I've had through some of my properties over the years have thought I had installed floating timber floors when in reality it was just good quality timber-look vinyl.
     
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  7. Martin Mariappan

    Martin Mariappan Member

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    Thank you all for the advice. I researched bit deeper into this marble flooring and found that it needs polishing and sealing as well at regular intervals. Considering all this we have decided to stick with the Laminate Hybrid flooring from Trevor carpets and spend that extra cash on something else instead. Thank you all for the suggestions.