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Several types of flooring can be installed over existing tile, provided the current tiles are in good condition. Options include vinyl, vinyl plank, laminate, engineered wood, hardwood, carpet, and cork. Among these, various types of vinyl and engineered wood are the most common choices due to their versatility. Alternatively, you can install new tiles on top of your current ones if you like tile floors but want to update the look. Before proceeding with any new flooring, it's crucial to ensure your existing tiles are not damaged; otherwise, they will need to be removed first.

The average cost to install new flooring is around $3,162, with a typical price range between $1,530 and $4,860. On a per-square-foot basis, you can expect to pay an average of $3 to $22, including installation. Several factors influence the total price, including the flooring material, project size, geographic location, and any special features. Material choice is a significant cost driver; vinyl plank, linoleum, and carpet are on the lower end ($3 to $7 per square foot), while stone, tile, and hardwood are more expensive, with hardwood reaching up to $22 per square foot. Prices can also vary by region, and installing flooring on stairs will add to the cost, typically ranging from $11 to $160 per step.

Experts advise that replacing carpeting can bring a 50% to 80% return on investment. However, new carpeting doesn’t necessarily add value to your overall home value. Because flooring value heavily depends on taste, it can be tricky to determine whether new carpet will increase your home sale price. Carpeting tends to be a renovation that increases overall comfort and aesthetics for your home, but it’s not a big factor in value.

While it's possible to cover asbestos tile with carpet, it's not recommended. Encapsulating tile beneath carpet doesn't eliminate the health risks. Over time, the asbestos tiles could degrade, releasing fibers into the air and potentially contaminating the carpet. Disturbance during carpet installation or removal might also release fibers.