distinguish between sheet vinyl, which is the least expensive option in this category but must be replaced completely if damaged, and LVP, which is more time-consuming to install and more expensive than sheet vinyl. LUXURYVINYL PLANKVS. HARDWOOD FLOORS Hardwood floors have traditionally been considered the height of beauty and luxury in flooring. However, modern technology is rendering high-quality LVP nearly indistin- guishable from hardwoods, making the advantages that come with LVP more accessible even in high-end homes where historically hardwood floors would have been the only design option. LVP installation and materials cost a fraction of that of hardwood, require very little upkeep, are moisture-resis- tant, and offer a “green factor” (they are recyclable and often made from recycled materials). This leaves marketability as hardwoods’ main benefit to the investor. COST OF INSTALLATION: HARDWOODS The price of hardwood flooring varies widely from $3-$6 on the low end (pine) to $5-$10 for mid-range woods (oak or teak) to more than $14 per square foot on the high end (tiger- wood or mahogany). Installation costs alone are as follows: Typical range for home installation: $2,543-$6,493 (HomeAdvisor.com) National average: $4,396
SHEETVINYL
$.50 - $2.00 per square foot for materials (HomeAdvisor.com) $3.00 - $4.00 per square foot for installation National average: $1,098
Note: you may need to factor in additional money for old flooring removal and disposal. (Porch.com)
LVP
$2.50 - $5.00 per square foot for materials (HomeAdvisor.com) Installation ranges from $1,500 - $5,000 (national average)
Note: different types of LVP come with different types of finishes both protective and ornamental. The cost of the finish may not be included in the cost of installation and materials. •
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