Luxury Vinyl Plank or Refinished Hardwood Floors?

[Jason Zeiner]

I have just begun on my first property renovation and my initial plan was to install LVP in the entire first floor and install new carpet on the stairs and second floor. That was until I pulled up a corner of the carpet to discover hardwood floors underneath. It seems like the entire house may have hardwood floors and now I have to decide if I want to refinish them instead.

Looking up rates for refinishing hardwood floors appears to be between $3.50-$5 per square foot where LVP starts at around ~$2.80 per square foot. The tradeoff is the refinishing rates are for someone else to do the job where the LVP numbers are materials only and I would install it myself.

The strategy for this property is to rehab then rent it out. So I'm not going to for maximum re-sale value like I would if it were a flip. Since this is a rental would you rather have the durability of LVP or is hardwood good enough? Those with hardwood floors, have you noticed any issues with your tenants damaging them, especially with pets?

[Joe P.]

I'm surprised people have said hardwoods, especially for a rental. Even if they're weren't old pine as described, I'd probably still put LVP down.

Hardwoods might net you some extra money for renting, but where you'll REALLY see the return is if you were selling.

Hardwoods would prevent you from renting to people with pets -- pets will destroy hardwood especially if its weak. As will moving around furniture and general wear and tear.

If its my property and its a buy-and-hold, I'm putting down the vinyl and getting 20+ years out of it while its rented. Then if I want to sell, I'm ripping it up (for free, not hard to do on your own), and having a professional refinish.

We're not talking astronomical differences in rents for hardwoods versus LVP -- its not like people pay $200 more a month because of a difference in flooring. I've seen LVP as durable and almost as nice as hardwoods these days, so most people don't even know the difference unless you specialize in high-end rentals. The market (for 90%+ of rentals) will dictate your rent, e.g. 1 bedroom nets $500, 2 bedroom nets $1000, etc. You adding hardwoods is not going to make those numbers 700 and 1200. 550 and 1050? Maybe. But refinishing them just to get ruined in 5 years by people who don't care about it...and it would be considered wear and tear...is not worth it.