For the about 1100 square feet I have to cover it would cost me $4000-$5000 (CAD).
Lately I keep wondering if I should make the flooring myself, then I don't have to depend on available colours, the fake pattern that comes with these factory made planks, etc.
I have a jointer and planer and in my area there is lots of wood available. I could finish it with a good quality flooring oil, like OSMO, in whatever colour I prefer.
I think it would look so much better and it might be even cheaper as well. I wouldn't mind doing the work, but the question is if it's doable... I don't want any warped boards or splinters once it's all installed. Right now there's only a concrete slab, I would probably have to glue them down.
One of the things I like about LVP is that it's 100% waterproof (might come in handy because of my two toddlers).
2. Labor. Your time and effort has worth, so you'll have to compare the labor involved in making, finishing, and installing the wood flooring plus the additional underlayment and subflooring. Compared to the relative simplicity of LVT. If you do go LVT, make sure you get the trio of tools: mallet, puller, and block. They make it a breeze.
I couldn't imagine putting wood on my old 1950's basement floor. I'm assuming you have a nice even floor in a dryer climate to consider it.
I've been told that with the LVP (that I'm planning on using) I wouldn't need any underlayment since it's pre-attached to LVP. Some people recommend a very thin black film, I guess for moisture.
So far I've found this: "Since the planks have a pre-attached underlayment, you cannot use any other type in addition to that. Another underlayment will give the planks too much cushion and can cause gapping and damage. It also voids the warranty. DMX underlayment cannot be used with any of our flooring, especially the LifeProof since it has a pre-attached pad."
The floor is pretty flat and smooth, it looks shiny and polished, almost like marble. It also has in-floor heating (water) and although we are not using this (way too expensive) the underlayment needs to be compatible with it. I will double check on this. The LVP itself can be placed on floors with in-floor heating.
I already bought a kit with all the tools and spacers, that will come in pretty handy indeed. We now live here (New Brunswick, CA) for a year and haven't seen any moisture or water issues at all, the house was built in 2009 so we should be okay for quite a while.