If you're planning to replace your existing wood floors with new ones, you'll need to decide between laminate and engineered wood flooring. The difference between these two is vast, and it's best to do some research on both. For instance, when choosing hardwood flooring, you need to consider the type of resale value you want your home to have. A lot of homeowners choose laminate because of its high resale value, but if you want to increase your resale value, you'll want to consider installing engineered wood.