Hardwood floors are exposed to constant foot traffic, and have to stand up to a lot of wear and tear. After years of exposure, it may be time to restore the natural beauty of your wood floors. Whether you refinish or replace them, redoing hardwood floors requires careful consideration and an understanding of what each process entails. This will lessen the chance that you jump into a home improvement project only to quickly find that you’re in over your head. Here’s what you need to know:
Take the Cost Into Account
The most obvious factor to consider when redoing hardwood floors is cost. For the most part, it’s usually less expensive to refinish your existing floor instead of completely replacing it. Replacing your hardwood floor comes with a significant price tag. This includes the cost of new lumber and the labor required to install it (this labor-intensive project is one that you should hire a professional to complete).
On the other hand, refinishing your floors is significantly less expensive. Although this process can be labor intensive, and may expose you to volatile or toxic fumes if you don’t wear the proper protection, it’s achievable for most moderately skilled homeowners who are willing to put in the time and effort.
Think About the Time Line
Although refinishing a hardwood floor is usually less expensive than replacing it completely, it can take a lot longer to complete. The reason behind this is that refinishing floors is a meticulous process that requires various stages of prep work, repair, staining and varnishing. Each stage of the process requires specific steps to be taken and varying drying times. The entire process requires that the floor remain untouched for the length of the project, which can be an inconvenience and can prolong downtime.
So while replacing the floors completely is more expensive, the process can usually be completed in a shorter time frame. The time required to replace a hardwood floor will depend greatly on several factors that are specific to the project. These include removing the old floor, which will increase the length of the project, rather than covering it with a new material. If there is unforeseen damage to the subfloor or supporting floor joists, this could extend the time line or lead to an additional cost.
Consider the Return on Investment
Redoing hardwood floors will definitely provide you with a good return on investment (ROI). The return that you can expect depends on many factors that are specific to your home, including the materials you choose and the area in which you reside. With that said, flooring experts say that refinishing existing hardwood floors should provide a return of about three times the cost of the project.
Homeowners who are replacing or installing new hardwood floors can expect a return of about two times the cost of the project. Based on these projections, it makes sense to redo your hardwood floors. Not only will you be adding beauty to the space, but you’ll also be adding value to your home.
If you’re trying to decide whether to refinish your wood floors or replace them completely, keep these considerations in mind. Depending on your situation, one option may be better for you. If you’re looking into refinishing your floors because you’re interested in selling your home, head to Owners.com for an extensive network of valuable real estate services and listings.
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