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Luxury vinyl is durable, waterproof and features a very realistic hardwood or stone look without expensive price associated with natural materials. Vinyl flooring, often referred to as LVT/LVP, is favoured for its durability, ease of maintenance and straight forward installation. It is ideal for the DIY’er because homeowners can get started on installation right without the need for special training or expensive tools. A small room can be completed in as little as three to four hours.