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Carpet stretching can be a worthwhile investment to increase the lifespan of your carpet and eliminate unsightly wrinkles, ridges, and ripples. For an older carpet that is in relatively good condition aside from some wrinkling or bubbling, restretching can make it look like new and extend its life by at least a couple of years. You should consider restretching when you notice looseness or other related issues.

However, it's important to note that stretching will not fix issues like stains, wear in the pile, or discoloration. Consider replacing the carpet instead if the repair cost is more than 50% of the price of a new one. Additionally, if your carpet is past its expected lifespan of five to 15 years, or if it has been stretched multiple times already, replacement is likely a better option.

While carpet over carpet may provide some additional insulation and soundproofing benefits, it's not as effective as other methods. Layering carpets can add a modest buffer against noise and temperature fluctuations, but it's limited compared to installing thicker carpet padding or using specialized soundproofing materials. For optimal floor insulation and soundproofing, consider alternative solutions tailored to your specific needs and budget, such as adding additional padding or soundproofing underlayments beneath the carpet.

The cost to install carpet is $1,780 on average for 330 square feet, the size of an average living room. This cost could range from $200 to $5,000, depending on the amount of carpet, material, and type of carpet. 

If you need 500 square feet of carpet, it’ll cost $1,500 to $5,500, while 1,000 square feet of carpet costs $3,000 to $11,000. Polyester is one of the more affordable options, ranging from $1 to $3 per square foot. Wool is a more luxurious option, ranging from $4 to $20 per square foot. 

If you want your carpet to last as long as possible, then yes, you need to install carpet padding. Carpet padding creates a layer of protection between the back of your carpet and the floor beneath it, which decreases friction and reduces wear and tear. Aside from that, carpet padding also helps absorb noise and makes your carpet feel more comfortable underfoot.