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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.

In most cases, carpeting isn’t kind to the wood that it’s attached to. Most carpet installation uses adhesive or nailing strips, both of which will damage wood. Conversely, you can choose to use an adhesive designed to be removed from wood, in which case carpeting can actually protect your hardwood stairs.

A stair runner can be cheaper than a carpet and will definitely save money over the cost of refinishing hardwood floors and stairs. The price depends, however, on the fabric and quality of the runner. A wool stair runner can be more expensive than an inexpensive polyester carpet and vice versa. Keep an eye on your budget, knowing that the higher quality the carpet and the carpet pad, the better the carpet will wear over time.

What a buyer prefers usually depends on the home’s layout and which material fits the current aesthetic. The local real estate market can also dictate these desires to some extent, as do the buyer’s personal preferences. With that said, laminate can increase the resale value of a home by a tiny bit, whereas carpet does not. Hardwood increases the resale value by the highest amount.