Budgeting for a Flooring Project: What to Expect and Where to Invest
Starting a flooring project is exciting, but it’s important to approach it with a clear and realistic budget. Whether you’re renovating one room or updating your entire home, knowing what to expect in terms of cost—and where it makes sense to invest—can help you avoid surprises and make confident decisions.
At The Floor Shop in Toronto, we work with homeowners at every price point to create beautiful, lasting floors. In this guide, we’ll break down typical flooring costs, where to prioritize your investment, and smart tips for staying on budget without sacrificing quality.
What Goes Into the Cost of New Flooring?
Flooring costs can vary widely depending on materials, space size, and installation complexity. Here are the main components that influence your budget:
1. Flooring Material
Different flooring types come with different price points:
- Laminate: $2–$8+ per sq. ft. (budget-friendly and durable)
- Luxury Vinyl (LVP/LVT): $3–$10+ per sq. ft. (water-resistant, stylish)
- Engineered Hardwood: $6–$15+ per sq. ft. (natural wood veneer with stable core)
- Solid Hardwood: $8–$15+ per sq. ft. (premium, timeless)
- Cork: $5–$10+ per sq. ft. (eco-friendly, comfortable underfoot)
2. Installation Costs
Installation typically adds $2–$15+ per sq. ft., depending on the material and complexity. Factors that affect labor costs include:
- Removal of old flooring
- Subfloor repairs or leveling
- Intricate layouts or patterns
- Stairs and transitions between rooms
3. Underlayment and Accessories
- Underlayment: $0.50–$2+ per sq. ft., depending on type (foam, cork, rubber)
- Transition strips, trim, baseboards, adhesives, and sealants may add 5–10% to your total cost.
4. Waste Factor
Always budget for 5–10% extra material to account for cuts, waste, and future repairs—especially for rooms with irregular layouts.
Where to Invest: Smart Places to Prioritize Your Budget
If you’re working within a budget, it’s important to know where spending more will make a noticeable difference in both performance and long-term value.
1. High-Traffic Areas
Invest in durable, high-quality flooring for areas like entryways, kitchens, hallways, and living rooms. These spaces see the most wear and will benefit from scratch resistance, easy maintenance, and long-term durability.
2. Stairs
Stairs are high-impact zones that require proper installation and safe, sturdy materials. Matching your stair treads to your flooring can also enhance your home’s overall flow and aesthetic.
3. Professional Installation
Even the best flooring will underperform if installed poorly. Skilled installers ensure proper fit, finish, and long-term stability—especially for materials like hardwood that require precision.
4. Underlayment
Don’t skimp on the underlay. It affects insulation, comfort, soundproofing, and moisture protection—especially for laminate, vinyl, and floating floors.
Where You Can Save Without Sacrificing Quality
1. Bedrooms and Low-Traffic Rooms
You can opt for more affordable flooring materials in guest rooms or bedrooms that don’t experience heavy foot traffic.
2. Prefinished vs. Site-Finished Hardwood
Prefinished hardwood floors often cost less in labor and mess, while still offering beautiful results and factory-grade finishes.
3. Choosing Standard Widths and Patterns
Custom cuts, mixed-width planks, or herringbone layouts look amazing—but they come at a premium. Sticking with standard formats can help lower your labor costs.
4. Flexible Material Choices
Luxury vinyl can replicate the look of hardwood or tile at a fraction of the cost, offering durability and water resistance in high-risk areas.
How to Plan Your Flooring Budget Effectively
Get a Professional Quote
Ballpark estimates are helpful, but every home is different. At The Floor Shop, we provide detailed quotes based on your layout, materials, and needs—no surprises.
Prioritize by Room
If your full project exceeds your budget, consider doing it in phases. Start with the most used or most outdated areas first.
Set Aside a Contingency Fund
Budget 10–15% extra for unexpected expenses like subfloor repairs, furniture moving, or changes in materials. It’s always better to be prepared.
Consider Long-Term Value
Cheaper isn’t always better. Flooring that lasts 20–30 years is a better investment than something that needs replacing in 5–10. Durable, low-maintenance materials often save money over time.
Questions to Ask Before Finalizing Your Flooring Budget
- What’s the total square footage I need to cover?
- Are there stairs or transitions that require extra material or labor?
- What kind of wear and tear does each room experience?
- Do I need moisture-resistant materials (kitchen, basement, laundry room)?
- Will the new flooring increase my home’s resale value?
- Can I install now or do it in phases?
The Long-Term Benefits of Investing in Your Flooring
Flooring isn’t just a surface you walk on—it’s a long-term investment that impacts your home’s comfort, value, and style for years to come. Choosing high-quality flooring means greater durability, less maintenance, and fewer replacements down the line. Materials like engineered hardwood, luxury vinyl, and cork not only stand up to daily wear but also retain their beauty and performance over time.
Investing in better flooring can also improve your home’s energy efficiency, indoor air quality, and even resale value. Buyers notice well-maintained, stylish floors—and often pay a premium for them. Plus, with the right installation and proper care, your flooring can last for decades.
At The Floor Shop, we help you choose flooring that fits your lifestyle now and adds value for the future. It’s not just a purchase—it’s a smart investment in the comfort and quality of your home.
Final Thoughts: Flooring That Fits Your Style and Budget
Budgeting for a flooring project doesn’t have to be overwhelming. With a clear plan, the right materials, and expert guidance, you can achieve a stylish and functional result within your price range. Whether you’re splurging on wide-plank engineered hardwood or opting for durable vinyl, every investment you make contributes to the beauty and comfort of your home.
At The Floor Shop in Toronto, we’re here to help you navigate every step of your flooring journey. From helping you choose the right materials to offering transparent pricing and expert installation, we make sure your investment goes further.
Visit The Floor Shop Today
Ready to start your flooring project? Visit one of our Toronto showrooms or contact us for a personalized quote. Let our experienced team help you find the perfect flooring that suits your lifestyle, design goals, and budget.
