Planning to install new luxury vinyl plank flooring in your home is an exciting venture. Whether you’re refreshing a single room or updating your entire home, luxury vinyl flooring offers the perfect combination of durability, style, and affordability. But before you dive into your renovation project, it’s essential to set a realistic budget. Understanding the costs associated with purchasing luxury vinyl flooring and hiring professionals for vinyl plank installation can help you avoid unexpected expenses.

Here at House of Carpet in Richmond, VA, we’ve been helping homeowners plan for new flooring projects for decades. With a little preparation and knowledge, budgeting for your luxury vinyl installation doesn’t have to be overwhelming. Here’s what to consider when planning your budget.

1. Cost of Materials

The first step in budgeting for new luxury vinyl plank flooring is understanding the cost of materials. Luxury vinyl flooring prices can vary based on several factors, including quality, brand, thickness, and design.

Typically, you’ll find that vinyl plank flooring is priced per square foot. On average, luxury vinyl flooring costs between $2 and $7 per square foot, depending on the type of vinyl and style you choose. Some high-end luxury vinyl planks may even exceed this range, particularly if you’re looking for ultra-realistic wood or stone finishes.

When choosing your flooring planks, keep in mind that the total cost will be influenced by the size of the area you’re covering. For larger spaces, you’ll need more materials, which will naturally increase your overall cost. At our luxury vinyl flooring store in Richmond, we can guide you through options that meet both your style preferences and budget.

2. Preparing Your Subfloor

Before you can install vinyl flooring in your home, it’s essential to make sure your subfloor is in good condition. This often-overlooked step can significantly impact your budget. If your existing vinyl flooring or subfloor is damaged, uneven, or not properly prepared, you may need to invest in repairs or leveling before starting the luxury vinyl installation.

In some cases, removing old flooring, especially if it’s glued down, can add labor and disposal fees to your budget. You might also need to purchase additional materials like underlayment if required by the type of luxury vinyl plank flooring you’ve selected.

While some homeowners may be tempted to skip subfloor preparation, taking the time to address these issues upfront can prevent costly repairs down the road.

3. Installation Costs

Deciding whether to take on a DIY project or hire a professional for the flooring installation will have a big impact on your budget.

DIY Vinyl Plank Installation:
If you’re confident in your skills and have the right tools, installing luxury vinyl flooring yourself can save on labor costs. However, it’s important to consider the time commitment and precision required for vinyl plank installation. You’ll need to carefully measure the area, cut flooring planks to fit (using tools like a utility knife), and ensure a proper, even installation.

Many homeowners find that a DIY install works best for smaller, less complex spaces. However, for large rooms or areas with many angles, hiring a professional may be a smarter investment. Mistakes during installation can lead to costly repairs or re-installation down the road.

Professional Installation:
Hiring a professional for your luxury vinyl installation typically costs between $1.50 and $5.00 per square foot. This price varies based on the complexity of the job, the size of the space, and regional labor costs.

At House of Carpet in Richmond, VA, we provide expert installation services to ensure your new luxury vinyl flooring looks perfect and lasts for years to come. A professional installation can save you time and guarantee a high-quality result, particularly in larger or tricky spaces like bathrooms and kitchens.

4. Additional Supplies and Tools

When budgeting for new vinyl plank flooring, don’t forget to account for the necessary tools and supplies. For a DIY installation, you’ll likely need a utility knife, measuring tape, spacers, adhesive (for certain types of luxury vinyl flooring), and possibly an underlayment. These costs can add up, so be sure to include them in your budget.

Additionally, even with professional installation, you may be responsible for providing certain materials, such as baseboards or quarter-round molding, to complete the project.

5. Finishing Touches

Once your new luxury vinyl plank flooring is installed, consider any finishing touches that will complete the look of your space. Depending on the room, you might want to invest in new baseboards or trim to frame your new floor beautifully. These additional elements can range from inexpensive options to more custom, high-end finishes.

While these may seem like small details, they can have a big impact on the overall appearance of your space and should be factored into your budget.

6. Ongoing Maintenance Costs

Luxury vinyl flooring is known for its durability and ease of maintenance. However, to keep it looking its best, you’ll need to consider the cost of routine cleaning supplies and care. Luxury vinyl is easy to maintain, but regular sweeping and occasional mopping with a manufacturer-approved cleaner will help extend the life of your floors.

One of the benefits of vinyl plank flooring is that it’s more resistant to damage than traditional hardwood, but it’s still important to protect your investment. In high-traffic areas, consider using area rugs to minimize wear and tear, and avoid dragging heavy furniture across the surface.

7. Plan for Contingencies

It’s always a good idea to set aside a portion of your budget for unexpected costs. Whether it’s an issue with your subfloor, an unexpected delay, or needing extra materials, having a contingency fund can save you stress later on. We recommend setting aside 10-15% of your total budget to cover any surprises.

By considering all of the factors mentioned above, you can create a well-rounded budget for your new luxury vinyl plank flooring project. Whether you’re tackling the project yourself or hiring a professional for installation, careful planning can help you enjoy the beauty and durability of luxury vinyl without breaking the bank. At House of Carpet in Richmond, VA, we’re always here to assist you with selecting the perfect luxury vinyl flooring and ensuring a smooth installation process.