Originally Posted by 440Magnum
I've got both in my house, hardwood and "LVP" (Luxury Vinyl Plank, aka engineered plank). I put the hardwood (red oak) down throughout the ground floor myself 18 years ago, and its just getting to where it needs a re-finish. Good hardwood (the real nail-down, 1/2" thick tongue-and-groove stuff) is TOUGH. Especially when coated with old-school spar varnish. It was a metric ton of work to install, but I got a real pleasure out of taking my time and doing it myself, cutting and fitting the pieces to stagger the joints, making sure things aligned, nailing it home with the flooring nailer through the tongues (all nails invisible except on the last board against the final wall).
That said, the engineered plank looks very good and so far is durable, but its upstairs where the traffic is much lower. It also just "feels" more austere or clinical. The real hardwood has a warmth that the engineered plank lacks. The sound of walking across it is more natural... not quieter so much as more pleasant.
If you've got hardwood and it can be refinished, then I'm with your friends that say keep it!
Real hardwood around here is 3/4 inch and you can sand 1/4 inch before you get to the tongue and groove. It's also cheaper sanding than installing a new floor. And I'm not sure how the handyman would know about resale value. You shine up floors in a condo for short money and it sells quicker than having a new appliance which is about the same money.