Hardwood Floor Vs. Laminate Floor . This can get quite expensive, especially since homeowners are advised to purchase an extra 5% to 10% of flooring to account for mistakes, general waste, and future repairs. Laminate floors are much cheaper than hardwood, both in the cost of materials and in the fees for installation. In addition, the cost of installation can be significant as well, particularly for hardwood floors installed with a pattern. 30 Trendy Vinyl Flooring Vs Laminate Vs Hardwood Unique Flooring Ideas from www.rocktherm.com Since installation requires hiring a professional, the overall cost of installing a hardwood floor is much higher than laminate flooring, which anyone can install. Solid hardwood flooring can only be installed at or above grade, while engineered hardwood can be installed below grade in basements.