Laminate vs LVP
Laminate
Easy to Install (tongue and groove lock system)
Very durable
Inexpensive- the average cost of laminate floor is between $2.00/sqft on the lower end up to $8.00/sqft on the higher end
Water resistant( not waterproof)
Not good with moisture- Laminate floor is made of a sawdust/wood particle material. Therefore like all wood, is prone to water damage.
LVP/Vinyl Plank
Easy to Install (tongue and groove lock system)
Very durable
Inexpensive- the average cost of LVP floor is between $2.00/sqft on the lower end up to $8.00/sqft on the higher end
Waterproof- unlike the laminate floor, lvp is truly waterproof and water resistant. What does this mean? Very quick example to illustrate the difference, if your home were to flood the lvp flooring would have to be uninstalled, left out to dry and can be reinstalled again like brand new.
Scratch resistant ( depending on the mil rating)
Warranty- Most big name LVP manufacturers like Shaw, Mohawk etc have a lifetime warranty on residential flooring.