Plastic-laminate flooring is likely to look better longer than solid wood or engineered wood, especially in busy or sunny rooms. Although water can damage it, manufacturers claim it can go in basement areas and other damp spots. Still, it does have its limitations. You may be able to do minor touch ups, but if problems are widespread, you'll have to replace the entire floor. By contrast, solid-wood flooring can be refinished several times before it's sanded down to its tongue joints.
Most manufacturers recommend that a professional do the job.