Refinish Hardwood Floors in C Class Neighborhood???
Hey guys, I could seriously use some help with this one. I am currently rehabbing a brick house in a blue collar, low income (but definitely not warzone) neighborhood, and today I found out that there is hardwood underneath the plywood. There was originally vinyl sheet flooring covering the floors in all of the rooms when I purchased the home, and that is now being removed, as I was planning on having carpet installed once the painters finish up the interior.
Ever since I saw that there is hardwood underneath, I have been entertaining the notion of refinishing those floors. The majority of the homes in the neighborhood have carpet, and I while I have no delusions regarding the likelihood that hardwood will add much monetary value, I do think that the added feature would enable it to sell/rent quicker than others in the area.
One major benefit of going with the hardwood is that it should actually cost less than the purchase of carpet, padding and installation, which would be great because we have gone a little bit over the original budget. While the additional time that it will take to refinish the floor is acceptable, the fear I have is that we will find severely damaged/irreparable hardwood once all of the plywood is removed from the entire house. That would result in additional costs and time that can be avoided if I simply have carpet installed, especially since such flooring is atypical in the neighborhood. I would GREATLY appreciate any advice/guidance that you wonderful investors are willing to provide on this matter.