Dogs and hardwood are not a great pairing, their nails scratch and in no time it looks horrible. We installed the vinyl plank flooring in our lower level because that is where the dogs play, we watch T.V. and also where the dog door to the dog run is and also one of the accesses to the pool. That floor has taken it all and still looks like new 7 yrs later. The nice thing is it is easy to install and virtually waterproof everything cleans up with a damp mop. It comes in lots of colors and really looks quite nice.

Carpets and pets are a bad mix. Hardwood is significantly more durable than laminate. It will scratch over time. Have you considered porcelain tile that looks like wood? Very durable and easy to clean

We have three large dogs and installed 5/8" thick pre finished bamboo and it has held up flawlessly. Our dogs spend 95% of their time in that room chasing after each other. We replaced carpet that looked awful. Carpet is always going to get stained; wood will look great for years to come.
The suggestion above to go with tile is the best choice but also the most costly.
Good luck.

Hardwood is best. It will hold up far longer than any other floor with the right coatings. These guys will have all your answers: http://www.okanaganhardwoodfloors.com/

Lisa - I can't tell you how many times I have this very same discussion with my custom home clients. This discussion especially comes up when we talk about flooring for the kitchen - folks really WANT wood floors in their kitchen but are afraid they have to use tile because wood won't hold up in a kitchen environment. At that point I tell them "DON'T BE AFRAID OF THE WOOD"! Today's engineered wood floors are very different from the solid wood floors of the past. But that's a whole different discussion that we can have on another post.

Here are some things you may want to consider in response to the questions you asked.

"Which would give me a better ROI?" - In making flooring choices the level of expense goes (for the most part) from carpet to tile to wood. Lots of people like wood, especially for areas they are going to live in a lot because it looks and feels very warm. Today's engineered wood floors have virtually replaced solid wood flooring because of it's durability and easy maintenance. The finish they can put on an engineered wood floor far surpass what can be done with solid hardwood. Also the engineered floors perform better against moisture. One company I work with is Skyline Floorscapes. They have an amazing variety of choices and their pricing is the best I have found and their quality is great. They will send you as many free samples as you would like so you can see what the product looks like in your home before you buy it. They can ship anywhere. The consultant I work with there is Kurt Kucera - he is VERY knowledgeable and will point you in the right direction for your project and your budget. It does not matter where you live, Kurt can help you. www.SkylineFloorscapes.com

"Which is more durable?" - Tile is the most durable but it also tends to be cold so if you live in the room a lot you may end up putting rugs down to warm up the room and then you are back to a form of "carpet" over the tile floor. Skyline Floorscapes also has a vinyl product that looks AMAZINGLY like wood flooring that might be a good choice. It is a commercial grade product so it has the durability you are looking for with the dogs. Ask Kurt to send you some samples of that product as well. You will be AMAZED how much it looks like wood.

"Which is more important?" - Truly, they are both important. You need to be happy in your home and since this is a room you spend a lot of time in, don't make a decision based on a potential future sale of your home. That said, keep in in mind but make sure you choose something that you will love.

I don't mean to sound like a commercial for Skyline Floorscapes but when I find a source that has great product, selection and price I like to share it. That's what Houzz Pros do! Feel free to check out my Pro Page and follow me if you'd like. I also have a Facebook page where I post a weekly "I WANT THAT" Wednesday find or feature of the week.

Good luck with your project - let us know what you end up choosing!