1. Sand and attempt to refinish the existing planking upstairs. It is currently covered with what could be lead-based paint, which means we would have to do the job ourselves (the contractors we contacted wouldn't deal with painted floors). We would have to put carpet or another type of flooring in the closets due to some damage and unmatched flooring.
2. Rip up the existing planking and install a new plywood subfloor under new hardwoods OR carpet throughout.
3. Install carpet OR hardwoods over the existing planking.
4. Install carpet in the bedrooms/closets and hardwood in the hallway - again we have the choice of leaving the existing planking or ripping it up and installing a new plywood subfloor.
Thoughts and opinions are welcome!
Here are some shots of the laminate we were considering: