It’s good you are gathering information so you know what I call “total net cost”. It’s often that the main material is the lowest cost item! Wood look tiles are out of fashion due to installation problems. Here’s my experience. Carpet is lowest cost option for flooring if you buy mid range carpet. So called Luxury Vinyl Plank (LVP) is lower cost but I don’t like the look or feel of it. Tile is next highest cost and trickiest to install especially in older home. I find engineered wood good price wise and easiest to install. Check out options. Get 20-22 mil wear layer and aluminum finish and you are good for years to come.

Thanks for your reply Flo, can you explain what you mean by "Wood look tiles are out of fashion due to installation problems." Don't they install the same way as other ceramic tile that has been around for a long, long time? Thanks.

Your mention of backer board indicates you have wood subfloor. If so, I'd recommend you search for a reasonably priced solid or engineered wood. While the material might be more than some cheap tile, it could be stapled/nailed down and fasteners are generally less expensive than adhesives. Plus, once it's down and you trim and paint, you're done. No underlayment that's difficult to install and no grouting. You might even be able to find a used floor stapler that could be used then resold, increasing your savings. Not sure if you'd want to run it into the master bath though.

Many DIYers already have enough equipment to cut wood, unlike with tile.

For the basement a vinyl plank or tile sounds ideal.

Most “wood look tiles” are 12 x 24”. This length creates “potential” lippage problems. Substrate has to be very level. Grouting can be difficult if tile edges are not what we call “rectified”. This means the edges are very straight so tiles can be butted up together with minimal grout. If laying on slab, you will need a “thinset” product which is expensive to level slab. If wood subfloor it too must have proper prep. Hope that helps.

Have you considered purchasing a rug from a "remnant", then having it bound, to use as a room sized area rug ( makes removal easier if you want something different in years to come) ? If a remnant exists in your room size, it could be installed as wall to wall, should you prefer.

Let's deal with the Elephant in the room: floating floors have a hollow feel = BAD subfloor preparation.

I'm going to tell you a little secret about carpets. They HIDE the WORST SUBFLOORS in the building industry. I mean people have found cigarette butts, gum wrappers, saranwrap, drywall cuts, etc under their carpets. And that's just the stuff you can sweep up.

Now for the 'never flat, never level' subfloor. These builders use lowest of the low/crappiest of the crappy materials under carpet and sheet vinyl (I doubt you have linoleum...I'm guessing sheet vinyl...but never mind). They use PARTICLE board or OSB - the nasty stuff.

Now imagine trying to tile over top of that crap. New subfloor anyone? And the other issue, if you have wood joist/wood subfloors...the DEFLECTION RATING! The deflection rating is only good enough for CARPET...or a floating floor. It might not be enough for regular hardwood (it all depends on where the joists are and the thickness of the subfloor).

Whomsoever you spoke to at LOWES is telling you the truth (wow...a dude at Lowe's knows what he's talking about??? never happens!).

Imagine you have a deflection rating that is 1/2 of what you need...and you have crappy OSB as the subfloor. Cement backer board does NOT add to the stiffness rating of the subfloor. You need REAL plywood (subfloor grade thick enough to get you to the Deflection Rating of the tile = could be VERY thick...depending on your joist distance). That stuff is not cheap. You are looking at $1.00 - $1.75/sf. Plus all the SCREWS (no nails...you need to SCREW the new subfloor to the old one...that's fun in with a capital SUCKS!). The screw pattern is tattooed onto the wood. Which is every 6 inches on the edges and every 4 inches in the field! That's A LOT of GALVENIZED SCREWS. Your screws will cost $50.

Now we move onto the ditra/schluter system. And the spacer system (as you already know) and the thinset and the grout and the tiles. So far you could be into the tile job for $3/sf...now you have the other $3-$5/sf for the tile/thinset/mortar. Sigh.

Now lets look at laminate. How does $2/sf for a decent midrange plank sound? Not bad right. Good. Now imagine the cost of 6mm cork UNDERLAY. That's another $0.80/sf. Excellent. Now imagine LOOSE LAYING the cork sheets (do NOT purchase the role...you loose 10% to the inside curl) DIRECTLY to the subfloor. No glue. No nails. Nothing. It just sits there.

Now that you have the spacers at the walls (your expansion gap spacers = 1/2") and your cork sheets are laid up to the spacers (give the cork the same amount of expansion as the laminate). Now click together your laminate floor.

Excellent. You have eliminated the BOUNCE of laminate (due to the subfloors being uneven) and the HOLLOW sound of laminate ('cause cork eliminates that as well).

With cork underlay you can make a sh!tty $0.79/sf laminate feel like solid hardwood.

And vinyl does NOT like underpad. You have to get that subfloor STUPID FLAT (sanding/patching/floating self leveler if you have the right PLYWOOD on top).

Hmm...laminate with cork underlay sounds might nice right now.

Thanks to everyone for their opinions. I appreciate it. Definitely learning a lot. I would love any other feedback. Leaning away from the tile option now. I will look more closely at laminate. I don't like the plasticy look of the more budget options though.