A new floor is a dream come true for so many of us. There’s nothing quite like that feeling of putting your feet down on a comfortable, beautiful new floor. It really helps create the feeling of home when we’re able to get the flooring we want in terms of style and appearance. But like many home improvement projects, installing new flooring can be a significant financial investment. The good news is, there are gorgeous options for everyone and a range of financing options that allow clients to work within their budget to get the right floor for them.
How Much Does Flooring Cost?
As we all know, every job is different, and the total you’ll pay for great flooring depends on the specific products you choose and installation costs, which vary based on expertise and time required. Here are some general flooring costs based on Home Advisor guidelines just to give you a ballpark idea of comparative costs:
- Carpet: Home Advisor’s national average for a carpet installation is $1600, but keep in mind that so much depends on the brand and style you choose, size of the space and other details. Carpet does tend to be a fairly cost-effective option overall.
- Laminate: Imitation wood flooring has seen a boom in recent years. Clients love the look of wood with ease of cleaning and a lower cost. With a $2800 national average, it’s nearly half the cost of hardwood flooring.
- Vinyl: At $1 to $4 per square foot, vinyl flooring is almost always the least expensive option, and these days you can still get a great look at a low price. With an average price tag of around $1400, it’s an excellent option for clients on a budget.
- Luxury Vinyl: This increasingly popular option looks like stone, wood or ceramic tile and is thicker than traditional vinyl. Materials costs are about twice as high as traditional vinyl so expect to pay more for that authentic look. But, it has definite advantages over the traditional vinyl - style and durability, to name a few.
- Hardwood: There’s nothing like the feel of a hardwood floor, and with a materials cost of $5 to $15, many clients are absolutely ready to pay the price for quality. Installation costs also tend to be higher as the process tends to be more involved. With a $4500 national average, many hardwood installations can run higher, but many clients believe it’s worth every penny. Over time, hardwood is certainly the most durable option and can be repaired or refinished again and again to look like new.
What Are My Options for Paying for Flooring?
Clients have a range of payment options for reaching their flooring goals. Here are the most popular options:
- Cash: For less expensive flooring options, it often makes sense to save up and pay with cash.
- Loans: Many clients choose a personal or home equity loan for more extensive or more costly flooring projects.
- Mortgage refinancing: for higher-end flooring jobs, especially when combined with other projects, some clients opt for mortgage refinancing to pay for top-notch home improvements that will boost the resale value of their home.
- Private label credit: since the introduction of the Mohawk Consumer Finance Program more than 20 years ago, clients have been using this special financing option just for new flooring.
No matter how you’re financing the job, be sure to take advantage of sales and promotions.
What Is The Mohawk Consumer Finance Program?
More than 20 years ago, our supplier, Mohawk Flooring, introduced its own consumer finance program to help flooring retailers offer terrific options to a wide range of customers. The Mohawk Consumer Finance Program is now offered by thousands of retailers around the country and allows consumers to finance their flooring upgrades just as they would a new vehicle or other long-term home improvements. Through the Mohawk Consumer Credit Card, the company has created a way for us to help clients get the flooring of their dreams while making it fit into their budgets through thoughtful financial planning.
What Is A Mohawk Consumer Credit Card?
The Mohawk Consumer Credit Card is an exclusive private label card offered through Mohawk Flooring in partnership with Synchrony Bank. It allows you to keep this home improvement expense separate from your general card charges.
Some of the advantages of this particular card include flexible financing, low monthly payments based on your income and quick approvals for qualified clients, allowing you to get started on your project right away. Other advantages include extended financing in some cases and special cardholder deals and sales offered by the supplier. It’s a win/win for retailers and clients, but please note that clients must apply for and be approved for the card, as with any credit card.
Financing Your Floor To Make Dreams A Reality
Just like many home improvements, new flooring is an investment--in your home and in your quality of life. And as with other home improvement projects, there is a range of financing options available. But thanks to a successful financing program through a trusted supplier, we’re able to add one more tool to our toolkit for making your flooring dreams come true.