As your hardwood floors get older and older, they take more and more abuse. They can become chipped, scratched, warped, and despite what you've heard, even stained over time. This leaves you with two basic options: totally rip out the existing floor and replace it, or you can refinish it.
When deciding which choice to make for your worn out hardwoods, aesthetics must be taken into consideration. If the goal is to completely change the look you have now and alter things like the type of wood, the size, and direction of planks, you might need to look into replacing the whole shebang. However, if you're more immediate goal is to bring back the luster than was satisfying at first, refinishing is your surefire way to go.
Taking on any home project whether it's DIY or not, the price will always be a factor, and is possibly the most important variable in the upgrade. The cheaper route, without a doubt, is to have your hardwood flooring refinished. So you have to decide whether you want the hassle and premium price of new flooring, or the lower cost and limited options of refinished wood floors.
How long it might take to either refinish or replace your hardwoods can be a vital element in choosing which you're going to do. While refinishing may be cheaper, the time that it will take can be considerably more than if you were to completely overhaul the floors by replacing them. When your floors are fully replaced, it's not exactly an in-and-out job, but the process is much quicker and doesn't require all of the components of refinishing. Refinishing involves buffering, coats of stains and sealers, scraping, sanding, loads of tools, and so much more.
How old your floors are is a very important factor in making the decision for redone or replaced. If your floor is really old, like 20 or 30 years, refinishing may not be an option. Especially if it has been refinished once or twice already. There's only so much depth in that wood, and after a while, it can start to lose its structural integrity. So while refinishing could work, it's best not to take a chance that it won't take and you'll end up replacing it anyway.
So you've got a decision to make. Do you get a whole new set of hardwood floors? Or do you refinish the ones you've got now? That all depends, right? Choose wisely, but rest assured, whatever you choose will be amazing.