LVP or hardwood floors

[Michael Williams]

I am doing a flip in the Classen-Ten-Penn neighborhood. For those of you not familiar with OKC it is an older neighborhood with houses built in the 1920’s that is just south of the Plaza District, which is a very popular business district with local restaurants, art galleries, entertainment venues, and retail shops. The property I bought has great curb appeal and a good downtown skyline view from the front porch.

The floors in this property were in rough shape and had to tear out what little original hardwood remained and replace majority of subfloor. I know a lot of these older homes have hardwood and that hardwood will typically bring higher returns. But the cost will be significantly higher (probably close to 7k more) than if I went with a nice LVP. And my budget is already getting stretched pretty thin. 

The question I had is whether I should bite the bullet and pay for the hardwood floors or go with a nice LVP and save my budget.  

[Rhett Tullis]

I own a few and manage a ton in that neighborhood.  If you do LVP you will hurt your value.  If you are renting it out fine but if you plan to flip it then you need to do hardwood to get the full effect of the historic homes in the area.