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Decent carpet will last around 10 years on stairs. Some less durable carpets, like polyester, will only last five years on stairs. The ideal carpet, like wool or nylon, can last about 15 to 25 years. You’ll know when to replace it when it starts wearing down. You may have to replace it sooner if it's stained, whether due to water damage or pets.

Carpeting has a few benefits on stairs in addition to being a cost-effective floor covering. It absorbs sound, dampening footsteps. It also provides additional traction, which is especially important if you install linoleum floors, epoxy flooring, or any other floor covering that can become slippery if you’re wearing socks. Therefore, carpets can help prevent slips. 

Sheet vinyl is the cheapest DIY flooring, depending on the brand, style, and quality you choose. Not only is it one of the most affordable flooring products on the market, but it is also easy for most homeowners to install, as it only requires cutting, trimming, and gluing down to the existing floor surface. Some sheet vinyl manufacturers make a loose-lay sheet vinyl flooring that does not even need to be glued.

Carpet squares, tile stickers, painting or stenciling existing tile floors, and painting existing concrete flooring are also affordable options for DIY flooring.

While it is possible to install carpet yourself, it is a challenging DIY project that requires precise measurement, proper cutting skills, and knowledge of correct installation techniques. The process involves multiple steps, including removing old flooring, installing underlayment and tack strips, and stretching the carpet to prevent wrinkles, which can take several days to complete.

Before starting, consider these factors:

• Warranty: Many manufacturers' warranties are voided if the carpet is not installed by a professional.

• Tools: You will need to buy or rent specialized equipment like a knee kicker, carpet stretcher, and seam roller.

• Complexity: DIY installation is most suitable for simple, straightforward rooms. Projects involving stairs or floor vents are significantly more difficult.

• Cost: While you can save on labor, the cost of tools plus the risk of expensive mistakes—which may require re-installation—can make hiring a professional more cost-effective in the long run.

Given the potential for errors, voided warranties, and the need for special tools, hiring a local carpet installer is often recommended to ensure the job is done correctly and safely.