The age of your floor also plays a role. If your floor has been in place for decades, it may resist refinishing for a number of reasons. For instance, if it has already been refinished several times or if too much of the surface wood has become exposed, refinishing your floor may have little effect. For very old floors, replacement can often be preferable to refinishing.
Glue down engineered hardwood, alternatively. If you don't want to nail down the boards, you do have the option of using adhesive to put engineered hardwood in place. It's a good choice, but won't last as long or be as sturdy as nailed down hardwood. The procedure is very similar to the nail-down process. Follow the adhesive manufacturer's instructions for installation and drying times.[11] Denver Hardwood Floor
First, most people are unable to successfully refinish the floors themselves. It takes a lot of experience to refinish properly. Most people can’t get it smooth/even and also don’t realize that you need to sand them 3 times before putting the stain on. It’s even harder to do it right if they are pine or maple floors (and if they are, they require conditioner before stain is applied). Also, once the floors have been sanded unevenly by a non-professonal, it’s even harder to correct due to the waves usually created by the non-professional. Denver Hardwood Flooring
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. If portions of your hardwood are damaged (e.g. pet stains or minor water stains), you can replace these sections and when you refinish them and it will all look new. Even if you have this, it will still be less expensive then replacing the whole floor.
My advice is to bring in a professional to make sure the floors can be refinished (i.e. if there is still enough room/if you didn’t permanently damage the wood), and if so, have them refinish them rather than replace them – that will be much less expensive. I don’t know where you live and the going rates, but in our area, it’s prob. the price is prob. $1-2 lower…but that may be par for your area. Call in 2-3 people to see. I would check Angie’s List (angieslist.com) for some good local people in your area. Denver Hardwood Flooring

With their increased durability and moisture resistance, engineered wood floors are a better option than traditional hardwoods if you have pets or spill-prone kids. Additionally, you can install engineered wood flooring in places that hardwoods typically can't go, including basements, kitchens and summer homes in high-humidity climates. This type of flooring is available in a variety of widths, colors and styles, including glue-down and floating floors. Hardwood Floor
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