Today we’ll be covering long term flooring costs. When purchasing flooring, most people only consider the initial costs – the cost per square foot of the material and the cost per square foot for installation.
However, there are other issues to consider. Sometimes, the cheapest option is not the most affordable regarding long term flooring costs. You need to weigh the life cycle costs, such as price of material and installation, maintenance costs, and how long it’s expected to last.
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In 2009, This LCA study was commissioned by the Tile Council of North America and carried out by Scharf Godfrey in an independently. It shows the different materials and install cost per square foot in the Installed Cost column. Life Cycle Cost will show maintenance and upkeep over the years where Expected Life will show you how many years the flooring type is expected to last (when WELL KEPT).
The final column, Cost Per Year, will show you how much you’re paying per square foot per year, which will give you the best idea of what your most affordable option long term will be.
Keep in mind when you’re looking at these long term flooring costs that the life expectancy numbers are valid when kept up with very well. Flooring of any material, when treated improperly, can be ruined in a year or two. Keep up with your floor to get the best return on investment and keep your costs low.
Lifespan Of a Floor Chart: Long Term Flooring Costs
|Floor Finish||Installed Cost USD*||Life Cycle Cost USD*||Expected Life (y)||Cost Per Year*|
|Glazed Ceramic Floor Tile||$7.00||$16.30||50||$0.33|
|Portland Cement Terrazzo||$14.88||$24.27||30||$0.81|
* Per square foot | Cost in USD Table sourced from “Tile is the Natural Choice”, 2009. This LCA study was commissioned by the Tile Council of North America and carried out by Scharf Godfrey in an independently
As you can see, several of the initially more expensive flooring options are actually much cheaper in the long run and you can greatly affect your long term flooring costs by the material you choose. I hope this has been helpful and informative and that you find the best flooring possible for your home and budget!