I actually like the top one better than the bottom one. Saving $5k is a bonus.
I'd do this, dude. You can always add a different floor down the road, but this will give you a finished home, will be rock solid, and $5k is not bad at all. I just dropped $5700 on carpet in my Canmore condo last February. Maybe 500sf of flooring, although three flights of stairs in there. Plus Canmore is expensive AF and they probably charged me the 'fk you Calgarian' price, but nonetheless...I think $5k is great for you.
I mean, in July 2009 I just looked up what I paid to refinish my hardwood in Calgary. 1200sf and it was $3500. I did it again in 2016 as part of a larger reno, so I don't have a breakout of what it cost then, but it really does show $5k is not an obnoxious charge here.
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