How Much Does Refinishing Hardwood Floors Cost in 2026?

Making updates to your home or a fixer-upper doesn’t come cheap. Caring for hardwood floors can get expensive. Replacing hardwood floors could run you upwards of $31,500, depending on how much you’re replacing and the type of materials you’re using.

There are ways to save on the cost of caring for hardwood floors, like refinishing instead of replacing them. Learn about costs per square foot, the best materials to use, and the difference in costs between hiring a professional and the do-it-yourself approach in this guide from WorkMoney.

How Much Does It Cost to Refinish Hardwood Floors?

Refinishing hardwood floors costs about $3 to $8 per square foot. What you pay to refinish hardwood floors depends on a few different factors, including:

• How much space you plan to refinish

• The materials you use

• Where you live

• Potential repairs along the way

• Labor costs, if you hire professionals

The average cost to refinish hardwood floors is about $1,887. You might pay more for smaller jobs compared to larger projects, which can cost less per square foot.

Is Refinishing Hardwood Floors a Good Idea?

Replacing hardwood floors can get expensive, but regular upkeep is excellent for your home's value. New hardwood floors have a cost recovery of up to 118% while refinishing hardwood floors has a cost recovery of up to 147%, giving you a nice return on investment if you decide to sell in the future. 

Refinishing hardwood floors takes less time and financial resources compared to replacing them. If your floors are generally in good condition, you should refinish rather than replace them. For instance, worn — like regular wear and light scratches — would benefit from refinishing. But if there’s significant damage, like structural damage, warping, or rot, you may have to replace your floors completely.

Replacing vs. Refinishing Hardwood Floors

While you may think you have to replace your hardwood floors entirely, it may not always be necessary. Compare costs at every step to see how much you could spend — or save — with replacing or refinishing hardwood floors.

Cost

Refinishing hardwood floors is significantly less expensive than replacing them. Replacing hardwood floors averages $4,724, while refinishing hardwood floors averages around $1,887.

Materials

Refinishing hardwood floors means keeping the type of flooring you already have. Replacing hardwood floors lets you choose the material you want for your home. If you’re unhappy with the current floors, completely replacing hardwood floors gives you more control over the look and feel of your home.

Labor Costs

While you can hire a team to replace or refinish your hardwood floors, it’s easier for you to refinish them as a do-it-yourself project. It can run you $6 to $12 per square foot in labor and material costs to replace hardwood floors. That amount goes down to just material costs when you take on the project yourself.

How to Lower Costs When Refinishing Hardwood Floors

You don’t have to pay top-dollar for refinishing your hardwood floors. There are several ways you can lower costs while still getting quality floors.

1. Get multiple quotes. Get estimates from reliable, trustworthy contractors. This gives you an idea of what you can expect to pay professionals for the job. 

2. Get picky with materials. Choose less expensive stains and finishes over fancier, more expensive options.

3. Do it yourself — if you can. Cut down on labor fees by doing as much as possible by yourself. You don’t have to buy new tools, as many can be rented for your project from big box stores like Lowe’s and The Home Depot.

Remember that even though doing the project yourself can help keep costs low, you still have to spend time and energy researching the right tools, materials, and equipment for your refinishing project. Without the skills that professionals have, you could spend a lot more time completing the project. 

Finding extra cash for home improvement projects isn’t always easy. You could borrow money for renovations, like a home equity loan or line of credit. You can also use tools like Insurify to help you compare the top home insurance options for you. Lowering your home insurance bill can free up your budget for these necessary home projects.

Avoid Hidden Fees in Your Refinishing Project

Not everyone can work on a DIY project. Hiring professionals might be the way to go. When you’re getting quotes and talking to contractors, make sure you know how to read the estimates. Watch out for hidden costs in quotes, like:

• Charges for removing furniture, 

• Fees for removing and reinstalling baseboards and trim.

• Waste disposal fees.

Don’t get swindled into paying more than you need to for the project, so get all your questions answered before signing a contract. Ask your contractor for a detailed cost breakdown and confirm what’s included in the estimate. For instance, how many coats will they do on the floors?

Get multiple quotes from a few different professionals. Try negotiating costs down by getting unnecessary fees removed from your quote. Have a concrete timeline of how long the project will take and what to expect along the way. See what you’re on the hook for before, during, and after the project wraps up.

Should You Refinish Your Hardwood Floors?

Having hardwood floors is great for your home, but you don’t have to fully replace them to achieve a polished look. You may want to refinish your hardwood floors if:

• You want to extend the life of your hardwood floors. 

• Your current floors have some regular wear, but are in decent condition.

• You want to boost your home’s value.

• You plan to sell your home within the next couple of months or years.

• You want to update your flooring without spending too much on the project.

If your floors have too much damage for refinishing or you want to change the material, color, or layout, you may need to do a complete replacement instead.

The Bottom Line

Refinishing hardwood floors can be an inexpensive, quick project that brings new life to old floors. It not only boosts your home's value but also extends the life of your hardwood, saving you money and time as you maintain your existing flooring. 

Whether you plan to do it yourself or hire professionals, make sure you know what goes into refinishing hardwood floors. Get multiple quotes from different professionals, see what you can do yourself, and don’t be afraid to negotiate whenever you can.