What Is The Difference In Residential Engineered Hardwood And Commercial Engineered Hardwood Flooring?
Tuesday, December 1st, 2009 at
8:15 am
We had some damage to kitchen floor which homeowners insurance is covering cost to replace. Flooring company just out with samples of engineered hardwood, but after she left I notice it says commercial flooring on the sample board. What is the difference between commercial and residential engineered hardwood? this is Armstrong, Beckford plank.
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Commercial grade means that a particular product was made strong enough to be installed in commercial buildings. Because foot traffic is so much higher in commercial buildings, flooring made for these types of situations needs to be much more durable than hardwood that you would normally install in your home. If you were to install a residential product in a commercial building the warranty would be null and void. You are perfectly fine installing a commercial hardwood in your home. What you should know ,however, is that insurance companies will only give you enough money to replace “like-kind and quality” That means the adjuster will determine the grade of hardwood you originally had and only give you enough money for the same grade of hardwood.
Commercial flooring is usually much more heavy-duty (and expensive) than residential flooring.
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I've seen it used a lot for exterior floors on decks and porches. Its a great wood for that. I have never seen it indoors. The only potential problem I can imagine is sanding and finishing. I recommend getting a few pieces and testing different finishes before making your final decision.
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When we redid our kitchen we decided to put flooring underneath the cabinet that holds the sink, for several reasons.
The sink would sit a tiny bit lower than the rest of the floor if there was not tile under it
The chances of a tile or laminate coming loose right there is substantial, since this area right by the sink tends to get a lot of water on it. If the flooring didn't go all the way under, you'd have to deal with little pieces coming up.
Less cutting and trying to fit in pieces around it, just lay the whole piece down and go.
For those areas there is nothing as user friendly as good old linoleum. The higher quality ones are so very beautiful.
I had a kitchen and bath that had really attractive commercial grade carpeting. I learned to love it. No moping, no breaking anything, no noise. My refridge even leaked all over it and I just wet vac up and all was well.
I had two messy little puppies at the time and even they couldn't kill it. You just wipe everything up with some spray on carpet cleaner.
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What do you like best about hardwood flooring?
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it seems that you' re half way there, a level solid surface and you can probably install any floor you want. Laminate is excellent for kitchens you have many different styles to pick from its reasonable priced, and easy to install. Try Lowes or Home Depot they carry a large selection.
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you could try to match something with your bedroom furniture ie the furniture is mahogany then go mahogany and if you put white linen or cream it will brighten it up or soft pastel colours on the wall and bedding it will look great you can buy a sample of the flooring I think its about a dollar or sometimes they have books with sample colours put it beside your furniture and other flooring. good luck
Don't replace it. Place plywood over the subfloor.
The stair nosing would have to be solid wood.
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Differences Between Residential
And Commercial Loans
——————————————————————————–
by Eric Morgan
When you go to apply for a loan, you will find that there is a rather large difference between a residential and a commercial loan. This means that you will need to understand the differences in advance so that being unprepared does not hinder the application and approval process. You also will be sure to get a better deal when you understand more about the process and information needed to complete either one. Here is a brief explanation showing the difference between a commercial and a residential loan.
The Application Process
The process of application will vary in most of the details – as well as in the terms of the loan. A residential loan is based almost entirely on the finances of the person getting the loan. A commercial loan, on the other hand, depends on the profitability of the property at the time the loan is taken out.
Residential Loan
A residential loan is designed for a building for one to four family units. For a building that houses more residents than that, you will need to get a commercial loan.
Residential loans require that the borrower provide the lender with personal financial information. Generally, this will require tax returns for the previous two years, pay stubs from your place of employment, and at least three month's worth of your bank statements.
A form 1003 (Universal Residential Loan Application) will also need to be completed and filed. This form is applicable in most states, but some additions will need to be added in some locations.
Near the end of this form, a lender is required to add a section (may be in an attachment) if you are applying for a balloon loan. It includes notice that you have opportunity to refinance, with a guarantee to do so, but it is conditional upon your being able to meet the qualifications at the time of your new application. Otherwise, you must be ready to pay the loan in full, when required.
Your financial information will also be checked. This means that your credit score will be examined, and your debt to income ratio is going to be scrutinized.
Your application will then be forwarded to the lender for their approval. Other documents will then be ordered and need to be completed before the loan can be approved. This will include papers like property appraisals, title search and escrow, and flood certification. Also, a lock on the loan will need to be included (if appropriate).
Lender's Role
Once all the paperwork is in the lender's hands, then he or she will review the paperwork. The 1003, and your credit, will be checked and verified. Other information that you have included will also be verified. Various conditions will need to be cleared, and once that is done, the final documents are drawn up and a closing date is set.
Commercial Loan
The application process for a commercial loan is much different than that of a residential loan. The main difference is that a commercial loan is not at all based on your income – and for this reason the details of your personal finances are not the basis of determining whether the loan is approved or not.
Application Process
The process starts out by obtaining the financial situation of the commercial building itself. This means that the documents showing income and expenses of the property for the last two years will need to be collected. Another main consideration will be the current amount of rent being collected every month. This will become the basis of how much of a loan that can be obtained.
The broker then takes this information and analyzes it in order to make overall statements that he or she will submit to the lender. These statements include a net cash flow (NCF), loan to value (LTF), and a debt service coverage ratio (DSCR).
The main consideration here is that there is a sufficient income (at the present time), to be able to provide the commercial property with a profit from day one. Lenders will look to make sure that there is at least a 1:1.1 to 1:1.25 ratio of the monthly payment to the amount of profit that is brought in after all other expenses. Some lenders may even want a slightly higher ratio before a loan will be given.
The Lender's Role
Once the lender receives the paperwork from the broker, then he or she will review all the documents. A quote will then be sent to the borrower based on this data.
Various services will also be ordered to make sure that the property is a good investment on the lender's part. An appraisal will be required, a title search, and a credit check will be necessary. Under some circumstances, engineering and an environmental verificat
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