December 9, 2022

The Real Costs of Owning Hardwood Floors: Refinishing and Replacement Vs. New Floorings

Hardwood floors can last an average of 30 years, and with consistent upkeep, these wooden floorings can even last twice or thrice as long. A sophisticated add-on to any home, hardwood floorings offer numerous perks to homeowners. Despite these benefits, many remodelers have unclear ideas about the costs of installing hardwood floors. The average installation costs are one thing, but refinishing and floor replacement prices are another matter you need to consider. Find out their differences now.

Computing Hardwood Flooring Installation Costs

The average installation costs of new hardwood floors depend on the labor involved and the quality of the hardwood remodelers used for their space. From the tree species and grade to the thickness of each plank, their prices can range from $10 to $25.

In addition, the cut and grain of each hardwood also add to the price of the wood planks. Cuts create waste to achieve specific grain patterns, making these options more expensive. The more waste hardwood flooring cuts have, the costlier they become.

Homeowners can estimate their hardwood flooring installation costs using a simple calculation. Add your square footage with five to ten percent of it to represent cuts and waste. Multiply the designated price of your plank per square foot with the sum to get the estimated costs of your entire hardwood floors.

(square footage + 5 percent to 10 percent of square footage) x price per square foot = cost

Cost of Refinishing Hardwood Floors vs. New Floors

Refinishing is one of the additional costs that come with installing hardwood floors. But unlike new flooring, refinishing existing ones are more budget-friendly. However, homeowners need to consider the current conditions of the wood before deciding on a refinishing project.

Homeowners doing home improvement projects with old hardwood floors consider refinishing instead of installing new floors. Although they require zero to little maintenance, old stains and polishes can make hardwood look dated. Depending on the state of each plank, you can get a professional to sand and polish your floors for a refinish to give them a fresher and trendier look.

In addition, refinishing existing hardwood floors prevent them from wearing out and protect them from dirt and grime. They also maintain the longevity and appearance of the wood. The average refinishing cost is between $2 to $7 per square footage, but they can become more affordable by turning them into DIY projects. Professional sanding and floor refinishing projects often cost $3 to $8 per square foot. The service includes dents, dings, and gouge removals to ensure smooth and even hardwood flooring.

New hardwood floorings also need refinishing, especially if they're unfinished. While these hardwood planks give owners more creative space, refinishing them requires more budget. Although unfinished floorboards are inexpensive, polishing adds at least $3 per square footage to your flooring expenses.

While many remodelers debate the cost of refinishing hardwood floors vs. new floors, the answer will always depend on several factors. Some of them are the conditions of the existing floorings, labor costs, and the prices of polishes and stains used.

Hardwood Flooring Replacement Cost

Refinishing existing floors are a budget-friendly option when owning hardwood flooring, but doing this often depends on the present conditions. In several cases, homeowners find themselves with old hardwood floors. Many would stick with only doing refinishing jobs and, a few years later, have squeaky, warped floorings.

Refinishing hardwood floors vs. replacing them is always confusing, especially for newbie remodelers. Before the beginning of the project, make a thorough inspection of your floorboards to check their conditions. Note the floorboards that require repair and mark the ones needing replacement. By doing this, you can lessen the replacement costs for your floors.

Laying out new hardwood planks will add to your overall flooring costs. Depending on the area of damage, homeowners can pay an average of $1,600. Floor replacement prices range from $3 to $5 per square foot.

In addition, you may also need to repair the floor joists. During replacement, you can run into molds in your subfloor or joists, and in some cases, there can also be water damage or insect infestation. Before laying out your new floorboards, repairing the joists is essential. Joist repairs often cost between $2,000 and $5,000.

Getting Your Money’s Worth With Hardwood Floorings

Hardwood floorings are an expensive but worthwhile investment for any home or property owner. But getting your money’s worth from its installation and other additional costs requires proper knowledge and understanding. Old hardwood floors can function and look elegant like new floors with refinishing projects. However, the conditions of your floorboards are essential to whether it needs repolishing or replacing.

Consult with a professional at Kelly Hardwood Floors now to learn more!