Whether you’re picking out flooring for your own home or for an investment property, the number of options out there can be overwhelming. Depending on your situation and priorities, there are a few different factors you’ll want to consider when making this important decision. Here we’ve broken down some key information about carpet, vinyl, laminate, tile and hardwood floors.

Carpet
Most investors who choose carpet are drawn to the relative cheapness and easy installation. Any good landlord knows that minimizing the time between tenants is crucial to profits. However, the tendency for carpets to stain and their lack of durability can be an issue. Consider whether you’re looking for something that’s quick and easy, or if you’re in a position to invest in something that’ll add to the lifetime value and earning potential of the property. Different flooring may be more expensive in the short term, but you won’t find yourself having to replace it as often, particularly with tenants who may not treat the property as well as you would.
Additionally, people choose carpets for their own homes, particularly in areas like bedrooms, because of the comfort and warmth provided. It’s also a good way to include texture and color within interiors.
Vinyl
Vinyl is another popular option for investors and homeowners alike. You can’t beat its low cost and easy maintenance. However, vinyl floors are not meant to last for more than 6-7 years—even less if it’s low-grade vinyl or if it’s not being well-maintained.
Laminate
Laminate flooring is rapidly gaining popularity as its construction improves the durability. While manufacturers are currently producing some laminate floors that would be suitable for a kitchen or laundry room (they can withstand some moisture), it’s still not a good choice for areas like bathrooms where it could become subject to standing water and humidity for a longer period of time.
Laminate floors these days look very similar to hardwood, which is another great feature. But keep in mind that this flooring will show scuffs.
Ceramic or Porcelain Tile
Tile flooring is a great longterm investment because of its incredible durability. And with proper care and maintenance, the surface is incredibly water resistant and easy to clean. Tile is especially functional for bathroom, kitchen and laundry room spaces.
Hardwood
Hardwood floors can have a significant positive impact on your property value. It’s also fairly durable and you have the ability to refinish it to update its look or freshen up cosmetically damaged hardwood planks. It is expensive, so landlords might want to think twice before installing this type of flooring, depending on the tenant they are targeting.