Hardwood flooring is made entirely of wood, while laminates, although they look almost identical t engineered wood, are made of fiberboard. Many layers are stuck together, with clear adhesive in between, for strength. Both materials are durable, but hardwood can last upto 75 years,while laminates have a 15-20 year lifespan. Laminate flooring is also significantly more affordable than hardwood flooring.