The true cost of hardwood flooring
Consumers interested in installing hardwood flooring to upgrade their homes to an overall more luxurious look sometimes experience a little bit of “sticker shock” when they visit a showroom and see the prices for various species. Interestingly enough, though, studies have revealed that hardwood flooring is actually less expensive than most other flooring options, including carpeting, linoleum and sheet vinyl. The trick is not to look only at the initial purchase cost of a flooring option including installation, but to evaluate the true “lifetime cost” of the option, including all expenses associated with it over the course of many years.
Carpeting actually has a rather expensive lifetime cost because it does not last nearly as long as consumers would wish. Over the course of 15 years, carpeting may need to be replaced twice or even three times, whereas a hardwood floor will not need to be replaced even once. Indeed, a hardwood floor may last 50 years or even longer. Sometime during that 50 years it may need some refurbishing in the form of wood floor sanding and polishing, but that procedure will only cost about half as much as swapping out the floor for carpeting or another option.
Due to the unique feature of hardwood floors, the cost over time becomes lower than options that appeared to be less expensive at the outset. New home builders and those who are redecorating should keep these figures in mind when they are out shopping for flooring options.