Should you refinish or replace hardwood floors?
In respect to this, is it better to refinish or replace hardwood floors?
In general, it will almost ALWAYS be less expensive to refinish your hardwood floors. If you replace them, you need to pay for additional wood as well as ripping up and hauling away existing hardwood. Even if you have this, it will still be less expensive then replacing the whole floor.
Consequently, is it cheaper to refinish hardwood floors or replace with laminate?
All solid hardwood flooring can be sanded and refinished a limited number of times. Local repairs of existing finish are possible in some cases. Good-quality laminate cost about $3.00 per square foot and up. Lower-quality laminate can be much cheaper but at a loss of looks and performance.
Usually engineered hardwood flooring is ¾ inches thick or sometimes more. With this thickness it is safe to refinish them up to 4-6 times. If you are happy with your flooring and just want to refinish your flooring to give them new life, hardwood flooring usually only needs to be refinished once every 7-10 years.