How to Choose Between Hardwood, Laminate, and LVP Flooring
N
NeedReno Staff
May 30, 2026
7 min read
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The flooring market has exploded with options. An honest comparison of the three most popular choices for Canadian homes.
Walk into any flooring showroom and you will be presented with dozens of products across three major categories: hardwood, laminate, and luxury vinyl plank (LVP). Each has genuine strengths. Here is how to choose.
**Hardwood**
Best for: Resale value, living rooms, dining rooms, bedrooms in dry climates
Cost installed: $7–$18/sq ft depending on species and grade
Lifespan: 50–100+ years with refinishing
Water resistance: Poor — avoid in kitchens, bathrooms, basements
Resale impact: Highest of the three. Buyers in most Canadian markets recognize and pay for real hardwood.
The main advantage of hardwood is that it can be sanded and refinished multiple times over its life.
**Laminate**
Best for: Budget-conscious projects, high-traffic areas, rentals
Cost installed: $3–$7/sq ft
Lifespan: 15–25 years
Water resistance: Moderate — better with high-quality AC4 or AC5 rated products
Resale impact: Modest — acceptable to most buyers but won't command a premium
Modern 12mm AC4-rated laminate is genuinely durable and looks good. The limitation is that it cannot be refinished — once it wears, it's replaced.
**Luxury Vinyl Plank (LVP)**
Best for: Below-grade installs, moisture-prone areas, pets, families with young children
Cost installed: $4–$10/sq ft
Lifespan: 20–30 years for quality products
Water resistance: Excellent — 100% waterproof
Resale impact: Growing. High-quality LVP (6mm+ wear layer) is increasingly accepted by buyers.
LVP is the fastest-growing flooring category for good reason. It handles spills, pets, and basements — the three scenarios where every other flooring fails.
**The basement question**
For below-grade installs, LVP is the clear winner. Hardwood and most laminates will cup, buckle, or swell from humidity.
**The verdict**
- Main floor living areas in a home you plan to sell: hardwood if budget allows
- Kitchen: LVP or high-quality laminate
- Basement: LVP, always
- Rental property: high-quality laminate or LVP (resilience over appearance)
**Hardwood**
Best for: Resale value, living rooms, dining rooms, bedrooms in dry climates
Cost installed: $7–$18/sq ft depending on species and grade
Lifespan: 50–100+ years with refinishing
Water resistance: Poor — avoid in kitchens, bathrooms, basements
Resale impact: Highest of the three. Buyers in most Canadian markets recognize and pay for real hardwood.
The main advantage of hardwood is that it can be sanded and refinished multiple times over its life.
**Laminate**
Best for: Budget-conscious projects, high-traffic areas, rentals
Cost installed: $3–$7/sq ft
Lifespan: 15–25 years
Water resistance: Moderate — better with high-quality AC4 or AC5 rated products
Resale impact: Modest — acceptable to most buyers but won't command a premium
Modern 12mm AC4-rated laminate is genuinely durable and looks good. The limitation is that it cannot be refinished — once it wears, it's replaced.
**Luxury Vinyl Plank (LVP)**
Best for: Below-grade installs, moisture-prone areas, pets, families with young children
Cost installed: $4–$10/sq ft
Lifespan: 20–30 years for quality products
Water resistance: Excellent — 100% waterproof
Resale impact: Growing. High-quality LVP (6mm+ wear layer) is increasingly accepted by buyers.
LVP is the fastest-growing flooring category for good reason. It handles spills, pets, and basements — the three scenarios where every other flooring fails.
**The basement question**
For below-grade installs, LVP is the clear winner. Hardwood and most laminates will cup, buckle, or swell from humidity.
**The verdict**
- Main floor living areas in a home you plan to sell: hardwood if budget allows
- Kitchen: LVP or high-quality laminate
- Basement: LVP, always
- Rental property: high-quality laminate or LVP (resilience over appearance)