When renovating our homes, flooring is often one of the most expensive projects. Even if we are not looking to purchase natural wood or marble tile, flooring is still an investment. If you don't know the transparent costs of your new flooring, how will you begin budgeting or even get to the fun part of selecting your floors?
Due to its high demand and increasing popularity, luxury vinyl plank is the second most common flooring purchase for our clients here at Flooring Solutions. We've gained a vast knowledge of the different products, vendors, and what they offer, as well as various price ranges for vinyl plank.
In this article, we'll break down the key factors that impact the overall price of luxury vinyl plank flooring, and what can make the price go up or down. You can rest assured that you will gain insight and transparency into pricing and decide whether Luxury Vinyl Plank (LVP) flooring is the best option for you, or not.
What is the Average Price Range For New Luxury Vinyl Plank
The average price range for Luxury Vinyl is between $3.50-$6.50 per square foot. Let's break it down even further. We will use a downstairs area for square footage. This is usually the challenging part for homeowners, figuring out square footage totals without having the proper tools. The average downstairs room, with living spaces, bedrooms, kitchens, and bathrooms, is about 1200 square feet. Around 1200 square feet of vinyl flooring may cost you between $4,200-$7800 for the material.
The average Flooring Solutions of Memphis client spends between $4.50-$5.50 on vinyl flooring. Seeing an average price is valuable because we can narrow it down to a $1.00 per square foot difference. You can use this figure in the budgeting phase to help your project. Most of Flooring Solution's clients install vinyl in a kitchen or multiple areas like a living/dining room combo or throughout the downstairs, as we referenced above.
We'll do one more example to take some of the math load off you! The average laundry room is around 100 square feet. For about 100 square feet, the material may cost you between $350-$650.
3 Main Factors that Determine the Cost of New LVP Flooring
Wood or Stone Look LVP
1. Wood Look Since wood-look LVP is the most common vinyl plank on the market, that actually keeps costs down. There's tons of inventory produced for wood-look styles, so companies are able to manufacture this look for less. Wood-look LVP does come in different thicknesses & widths, and those factors would determine how much a certain style or brand will cost.
2. Stone Look Often, a stone-look vinyl plank may be around $.50 more per square foot for the material. Let's jump back to that downstairs area of 1200 square feet. Instead of costing you between $4200-$7800 for a wood-look vinyl, it may cost you between $4800-$8400.
Type of LVP Vendor & Product
There are thousands upon thousands of products, but we wanted to show you Flooring Solutions, top three LVP products and give you their average price range.
1. Shaw Floors: Pantheon HD+: The average price range for this product is $5.50-$6.00. Pantheon HD + offers 16 colors, all of which are wood-look. This line is all about aesthetics. Think of those Instagram-worthy living rooms on Pinterest with that perfect color flooring. Pantheon HD+ offers trending styles & colors that appeal to our clients.
2. Mannington: Adura Plus: The average price range for this product is $5.75-$5.95. The Adura Plus product line is all about performance. That is another huge reason it's in the top three! It dampens sound by 30% more than comparable products and features "ScratchResist" technology to protect your floors even longer. There are various colors in both wood & stone look.
3. Karndean: Korlok Select: The average price range for this product is $5.80-$6.05. Korlok Select has 44 styles in its product line, which means plenty to choose from. This product could be a great fit if you love browsing many styles and colors. This line features a Rigid Core technology to offer an incredibly durable flooring choice. There are various colors in both wood & stone look.
After seeing these products, you may be wondering what flooring brand is right for you, and we've shared our honest review on that as well!
Floor Preparation Needed for LVP Installation
-
DIY Floor Prep
With DIY floor prep, you will likely follow similar steps to a professional company, such as cleaning the subfloor, filling in any holes, and replacing the rotted subfloor if needed. You will save a little money if you're doing this process yourself, as you will not be spending money on labor. -
Professional Floor Prep
Vinyl flooring is already very forgiving, so luckily, your subfloor doesn't have to be perfect. So the benefit to paying a professional is that it will likely not cost as much as you think, and you can guarantee all of the proper steps will be taken.
What Does It Cost To Remove Vinyl Plank
Since you can install vinyl plank three different ways, the removal of your existing vinyl plank is sometimes extra. The cost to remove the existing vinyl plank will depend on how the vinyl was originally installed.
1. If vinyl is glued down: The existing vinyl plank is scraped with a professional flooring tool until the subfloor is clear. You'll also need to scrape until all the glue is removed from the subfloor. This removal method, on average, costs around $2.50 per square foot.
2. If vinyl is floating: Along with this method being easiest to install, it's easiest to take up. The click lock system holding the planks together can typically be undone by hand, and you can pull the planks apart. This removal method, on average, costs around $1.75 per square foot.
3. If vinyl is loose-lay: Though it's not a very common installation method, the removal method is pretty simple. You remove this vinyl by starting at the center and pulling the planks with your hand. The perimeter glue is scraped with the same tool as the glue-down method. This removal method, on average, costs around $1.75 per square foot.
You're likely wondering now how much your new vinyl plank will cost to be installed, and we've got you covered there too!
Can Luxury Vinyl Plank Increase/Decrease Home Value
It's hard to speak for every state as a whole,but for our region here in the Midsouth, the appraised value of hardwood can rank higher than luxury vinyl flooring. This could be an advantage or disadvantage for homeowners looking to sell their homes.
However, this is different for buyers. While appraisers may give more value to hardwood floors, luxury vinyl appeals to families with pets and kids. It's always best to consult a Licensed Realtor for more detailed information about home buying and selling.
How can vinyl plank increase home value
If you're a family looking to purchase a new home that fits your busy lifestyle, that is a value to you, even if it's not necessarily a direct home value. Vinyl is easier to maintain, making it more practical. It's less susceptible to damage, so you can spend less money getting it repaired.How can vinyl plank decrease value
Vinyl is not natural hardwood, which is often more desirable. Poor installation or floor preparation can make your vinyl look poor over time and possibly more visible issues. Poor floor prep could allow the subfloor imperfections would show through.Is Luxury Vinyl Plank Right For You
You're looking to invest in flooring that is not only durable but also affordable. You want to feel confident that you've researched and understood the costs of purchasing new flooring. Without seeing actual prices and real square footage examples, it's still challenging to begin budgeting or knowing precisely what costs to expect.A big thing to remember is that Luxury vinyl flooring looks good and it will last. We have clients tell us how thankful they chose vinyl flooring over another option due to how affordable it was and how it lasted over time. This enormous appeal can help you decide if the upfront investment of luxury vinyl flooring is worth it for your needs.
You must select vinyl flooring that not only fits into your budget but also fits your design. You shouldn't settle on a specific design or style due to your budget. We highly encourage you to talk with a flooring specialist specializing in finding options to fit everyone's budget.
