The Costs of Refinishing Vs. Replacement of Hardwood

General Information

• Refinishing your hardwood floors will entail sanding the floors and adding a new finish. You may also have to replace boards that are damaged. If your floors are damaged, require too many replacement boards, or have stains on them, you may want to replace them completely. However, if your floors are in decent condition and you want to keep the floors that are original to your home, you may wish to refinish them. Factors that may help you decide whether to replace or refinish your floors include the price, condition and square footage of your room.

General Refinishing Costs

• The cost to refinish your hardwood floors will greatly depend on the condition your floors are in. If you hire a professional to refinish your floors and your floors are in good condition, expect to pay between $200 and $250 for a 225-square foot room for a restorative process called screening. If the professional will need to sand the floor and apply two or three coats of product, expect to pay between $340 to $900 for a 225-square foot room, depending on your floor's condition and the difficulty of the job. Vintage wood floors that must be laboriously matched can run about $850 to $1,125.

Refinishing Variables

• If you plan on completing the job yourself, you can save a substantial portion of the cost. The average cost per square foot to refinish the floors yourself is $1 to $3 per square foot. A 225-square foot room will cost you about $340 to $900. You may incur some additional expenses if you do not have all of the necessary materials, including $125 to $225 to rent a sander and $50 to $100 to rent a floor buffer and purchase related materials. Other materials you may need to complete the job yourself include a claw hammer, paint roller, varnish and a shop vac.

General Replacement Costs

• Replacing your hardwood floors involves two main costs for the wood and the installation. The price you pay for your wooden planks varies dramatically based on the type of flooring you choose. Cherry floors run from $3.50 to $6 per square foot, bamboo can cost between $4 and $6 per square foot, and more exotic flooring can cost over $10 a square foot. After you purchase the product, it will run about another $2 to $3 per square foot to install the floors. Factory-finished wood and installation runs about $10 to $14 per square foot, so expect to pay between $2,250 to $3,150 to install hardwood floors in a 225-square foot room.

Variables

• The cost to replace your floors varies due to a few factors. If you complete the installation process yourself, you can save about $2 to $3 a square foot. Your location may influence the cost of installation with rural areas often being less expensive than urban areas. You can also opt to purchase an unfinished wood option that is cheaper than a prefinished wood. Install it yourself and then hire a professional to finish the wood for a combination of the two options of replacing or refinishing your floors.