It’s really a preference and perhaps consider a few things to help with your decision.

Imagine the feel of the LR flowing with the adjoining spaces. How easy will it be to match/meet up and will your furniture suit white oak. If you want more warmth and a cozier feel, you could add a small area rug. Consider ease of upkeep. If budget is a factor, compare their costs, including installation.

If you like carpet and you don’t have allergies or pets, install new carpet. If you install hardwood you can put down rugs, which can easily be thoroughly cleaned or changed out to redecorate.

To assume hardwood is a forever "hip now" finish is ignoring the way home decor fads come and go. Buy what serves the way you live. Hardwood will be expensive and then you will buy a rug and cover most of it up. If you have the money and like the feel/look go for it because you want it--not because it may or may not date your home.

if you love carpet, then carpet. It's your home, no need to impress anyone.

I assume the living room connects in some way to the dining room and hallways. Thus........hardwood in the living room is the way to go - keep it consistent.

Enjoy the carpet in your bedrooms.

I would never want wall to wall carpet anywhere. Do the wood and get some nice rugs they can be sent out to clean and no gross yuck under them for years.

Even if plans changed and you decided to sell; I am the buyer and I love your home. Wall to wall in your living room would not turn me away.

I do have some suggestions: the most important install, IMO, is the quality of the padding. I have Smart Step because nothing spilled on the rug can penitrate the padding. Top layer is waterproof. If seams are needed have them duck taped.

A brand my mother always chose, and I have used for years:

https://www.karastan.com/discover/carpet?utm_medium=cpc&utm_source=google&utm_campaign=zlr-g-brand-karastan&utm_content=carpet_branded_text&gad_source=1

It's a personal choice, there's no right or wrong. I like hardwood with area rugs, but if you like wall-to-wall carpeting, then do it and don't worry about the home looking "outdated." Select quality carpeting that complements your furnishings and have it installed by competent professionals. Then enjoy your forever home!

Carpet to me makes a home feel more cozy. Hardwood is cold and then you pay all that money to cover it up with a big rug. Doesn't really make sense to me. I live in a slab home so my floors in the winter are very cold so carpet is my only option. Of course I could add under floor heating but an added expense (installation/electric bill) doesn't seem worth it. Nothing better then bare feet on a cushy carpet!

Rugs are very acceptable, even a requirement for hardwood areas. Why when carpet is not? Density, imo. If you look at carpet with 4000+ ruglike density you'll have the same surface as a quality rug. Rosecore from Stanton is one source. Link. And they do not get a spongy pad. Rubber to protect the carpet backing and the subfloor from moisture is the only goal. Same as a rug. Density is faceweight time 36 divided by pile height. Wool, nylon/wool and nylon are fibers.

I have take up wall to wall carpet and seen the dirt that gets collected, even with previous owners that you knew were clean people. Would never do it for that reason alone, even more so if you have kids and/or pets.

If you want to make everyone happy run 10" engineered plank matching the color of your existing flooring around the entire room picture framing the corners. Then do what's done on 300 foot Super Yachts. Inset the carpet in the open space on top of a rubber pad on the subfloor.

The rugs placed on top of wood flooring is often dirtier than carpet. Those rugs never get washed for years because they have to be sent out. Cleaning

There is no way an oriental rug placed over wood floor will ever be dirtier than wall to wall carpet!

I can flip up the oriental rug and vacuum under it.

I can vacuum the back of the oriental rug.

For a stain, I can put a storage tub under the rug and run water and stain remover through it.

Can't do any of those things with wall to wall.

I do have my wool oriental rugs sent out to clean every few years, but depending on the rug, it can also be cleaned at home DIY or by a Stanley Steamer type of company.

Put down a floor that makes you happy. Even though an area rug can be lifted and sent to be cleaned, there are a lot of good cleaning products for carpeting. So cleaning isn’t an issue. Your happiness is.

I have used Stanton for years and love it. It is a high end product. I have been discouraged to get the rubber back carpet by the dealer because of thin material, is not ascomfortable underfoot and doesn't wear well. The install cost can be higher. As with any product there are pros and cons.

My current homes have hard surface with area rugs, however, my previous home had carpet in two bedrooms ( master & guest ) . we had to replace the upstairs carpeting after several years due to some remodeling. The foors underneath were in pristine condition, not ”gross”, maybe our Dyson worked? Lol. It’s your house, get what you want.