Instead of replacing a hardwood floor, many homeowners choose to refinish their existing floor(s). Many times this can be more affordable, especially if the wood is still in good condition.
According to an article in the San Francisco Chronicle, a refinished floor is better on the budget than installing a brand new one unless the homeowner would like to choose an entirely new type of flooring.
If you are refinishing your hardwood floors yourself, it is best to purchase tools used by the professionals such as tongue and groove materials that can easily snap together. Prefinished hardwood flooring is another affordable option, which can be a real time saver. Remodel expert Bob Villa, wrote about his experience with this in his newly purchased condominium.
The average cost of refinishing hardwood floors is around $1.25 to $4.00 per square foot. Professional installation is typically $3.00 to $3.50 per square foot, which includes the labor cost. If you are confident in D.I.Y. projects at home, then refinishing your hardwood floor can help save quite a bit of money in your remodel budget.
There are two factors to consider when refinishing your hardwood floor yourself:
- The condition of the wood – You will first need to determine whether there are structural repairs that have to be made such as holes, cracks, stains, wood rot, ect. If the floor is covered by another type of flooring, like linoleum or carpet, you will want to plan that in your budget for the removal.
- The type of hardwood – There are many different types of wood used in home flooring, many of which are oak or maple, which can be more of a challenge to refinish. Consider also the age of the flooring. If you’re working with newer engineered hardwood floors your job will be much easier.
If you love the look and feel and hardwood flooring, and don’t necessary want the expense of a new installation, then refinishing may worth the investment. With proper maintenance a floor’s finish can be extended by as much as 40 or more years before you need to replace it again. If you’re planning to sell your property then beautiful hardwood floors will help increase your appraised value making your home more attractive to prospective buyers.