Even so, vinyl flooring generally will bring in a lower resale value than laminate flooring. High-quality laminate floor ranks below solid hardwood and engineered wood for resale value.
The best flooring for resale value: The ROI on wood floors
They're durable, versatile, and most buyers love them. According to real estate experts, the average ROI for installing hardwood floors is about 70% to 80%, and wood floors can boost the sales price of your home as much as 2.5%.
Its durability and water resistance makes it a great material to increase value in rental properties, kitchens, bathrooms, and laundry rooms. However, we don't always choose luxury vinyl for our properties. While the material is durable and stands up to water well, it's softer than hardwood and tile.
Laminate flooring is often considered to have a lower resale value than solid wood or engineered wood. Resilient flooring tends to rate even lower than laminate flooring, though categories start to overlap with better types of resilient flooring like thick rigid core luxury vinyl plank.
LVP flooring is waterproof, less expensive, and faster and easier to install than wood or tile. Even the high-end residential market discovered LVP floors last year. It works in wet areas such as bathrooms and laundry rooms as well as living rooms, kitchens, dining rooms, and anywhere in the house except for stairs.
While luxury vinyl flooring has come a long way from its creation and has increased in durability and visual appeal, unfortunately vinyl may decrease your resale value in the long run. It's important to recognize that while you may spend less on vinyl vs. hardwood, the ROI may be less.
Most would argue that luxury vinyl plank flooring is a better choice in terms of durability. Vinyl plank flooring is usually both water resistant and scratch resistant. Especially the high quality options.
Cannot be refinished: Due to its composite construction and wear layer, a laminate floor can never be refinished. Once it has been damaged or worn out, laminate flooring must be replaced.
If your old floors are in bad shape, any new flooring will help. While solid hardwood flooring would add more value, laminate will give your home the look of hardwood at a much lower cost, will look good for years, and your return on investment should be solid.
Not moisture-proof
Being made of wood, laminate flooring is not impervious to the effects of moisture. Therefore, it's not suitable as a hard flooring for bathrooms and should be used with caution in kitchens or laundries. Light surface water for cleaning shouldn't cause issues, but saturation must be avoided.
Firstly, it can be difficult to install and may require professional help. Secondly, vinyl plank flooring is not as durable as other types of flooring such as hardwood or tile. It is also prone to scratching and denting from heavy furniture or objects being dragged across the surface.
While LVP is extremely durable, it isn't totally indestructible. Luxury vinyl flooring can dent and even scratch or scuff, especially from heavy appliances, furniture, or other weighty objects. Just because it's resistant to something doesn't mean it's impervious to it.
Generally speaking, vinyl sheet flooring will last anywhere from 10 to 20 years, while vinyl plank and tile flooring will last 15 to 20 years. The thickness of its wear layer vastly impacts vinyl flooring's lifespan, so pay attention to this detail when purchasing your flooring.
Dark colored hardwood floors are highly sought after by home buyers because they match modern styles. Lighter hardwood floors don't have that same appeal to many buyers, but buying quality hardwood can help.
Living on a higher floor has its advantages. You get better views of your locality, better light and ventilation, and there is lower impact of street-level disturbances compared to those on the ground and lower floors. Higher floors are also usually free from the menace of mosquitoes and rodents (mainly rats).
While vinyl planks can hold heavy furniture, there are a few ways to protect them if you want to be extra careful. Rugs: Exposure to excessive moisture, sunlight or heat could potentially stress vinyl flooring. A rug can be a stylish addition to vinyl floors whilst offering added protection for the centre of the room.
Don't install your laminate on any floor with a drain. Don't install laminate on any uneven subfloor or outdoors. Don't install your laminate over residential carpet. Don't install a second layer of laminate underlayment.
Affordability. For homeowners who want durable and attractive flooring, laminate flooring is a great and affordable option. The cost of laminate flooring varies depending on factors like the quality of the material, the brand and the location. It is also significantly less expensive than hardwood flooring.
However, in recent times, laminate flooring has been experiencing a significant resurgence in popularity. With advancements in technology and a renewed focus on sustainable options, laminate flooring is making a comeback in 2023.
While costs are similar, the value of premium vinyl far exceeds that of laminate based on quality and value. Unlike laminate, premium vinyl is durable and stable, resistant to moisture and climate, and is easy to install and maintain. Laminate is restricted to light traffic and low moisture applications.
Flooring area and shape
For instance, it would cost an average of $600 to $1,400 to add laminate floors to a 100-square-foot room, $3,000 to $7,000 for a 500-square-foot room, and $6,000 to $14,000 for a 1,000-square-foot room.
Pergo laminate floors are created to be tougher than most other laminate options. These incur minimum scratches and are also very much close to being waterproof. You get around 30 minutes window to clean up any spillage and maintain the finish. Pergo laminates come with some of the best warranty plans.
If you have a tighter budget and want the look of hardwood without the price, go with vinyl. If you want resale value down the road, go with hardwood. If you want to attract a higher-end buyer, go with hardwood. If you want to be able to refinish it in 10-20 years, go with hardwood.
LVP is more affordable than hardwood - because hardwood after all is the real thing. However, most hardwood is going to last for years and would be considered economical compared to something like vinyl floors that have a much shorter lifespan.
When comparing vinyl plank to laminate, it's a close race as to which is easier to install. However, the installation of vinyl plank requires fewer tools and steps, so it's the superior choice in this category.