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The first step in budgeting for carpet is to determine the amount of carpet you need and the type of carpet you want. You might be tempted to opt for the least expensive option if you have a limited budget, but a low-quality carpet won’t last as long as a high-quality one. When accounting for future carpet repair costs, it makes sense to buy the best-quality carpet you can afford.

Vinyl floors last between 10 and 25 years on average when you care for them and protect them against water damage, though higher-quality vinyl can last longer.

If your vinyl flooring has heavy wear and tear or if it's peeling, it's a good time to do a reinstallation. Other signs your flooring is nearing the end of its lifespan include bubbling, heat-damaged planks or tiles, and discoloration.

Ultimately, it’s a matter of personal preference. However, as a rule of thumb, lighter-colored carpets and walls will open up a room and often make it feel larger than it really is. On the other hand, darker shades tend to shrink a space, making it feel cozier. By mixing and matching light and dark colors, you can add dimension to the room.

Few home upgrades add resale value above their installation cost, including terrazzo floors. However, they are still a good option if you like the look. While terrazzo may be expensive, it has a solid return on investment of around 55% to 70%. The durability and low maintenance requirements of terrazzo can be appealing selling points, as many buyers will appreciate flooring that can last 40 to 100 years.