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.
Floating installation: A floating installation is where the flooring is laid down in a glueless manner on top of a layer of underlay. The individual planks are locked together, and are not glued or nailed down to the subfloor. By doing this the floor is floating above the underlay, and can be laid on top of existing tile or marble, without the risk of damaging the subflooring. Hardwood Floor
Another common hardwood floor malady is the development of gaps between planks. The most common causes of gaps between the boards is Mother Nature. Wood shrinks as it dries out, and it expands when it gets wet and humid. That regular expansion and contraction over time is the most common cause of gaps, and is the main reason why most gaps are seasonal in nature. Perhaps your best plan of action is to exercise patience. Denver Hardwood Flooring
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 Floor
Solid hardwood floor planks are made from a piece of wood and made to be anywhere from 18 to 20 mm thick. The boards are made with a tongue and groove to fit together for installation. Depending on the species of wood, certain floors will be harder than others. The harder the floor, the less susceptible it is to dings and scratches. The floor can be sanded and refinished several times to restore its beauty, with the total number of times being determined by the depth of the tongue from the top of the plank. Denver Hardwood Flooring
Engineered wood flooring was created to lower the cost of wood flooring and attempt to fix some of solid wood’s shortcomings. It’s constructed from inexpensive plywood or particle board and topped with a thin veneer of hardwood. This construction helps with installation flexibility and slightly improves indent performance, but it adds a new set of problems as well. Because the “real” wood part of the floor is just a thin veneer, damage from scratches can be irreparable. Engineered wood floors are still made from porous wood, meaning they can’t be subjected to water.

Oak has always been a popular choice for hardwood flooring. The color is visually appealing, looks inviting, and has many advantages. You’ll find the wood easier to clean, and it easily blends in with furniture and home interior designs you already have. Plus, oak is a good investment if you’re considering selling your house in the future, since the wood can last for many years.
We live in a 1924 home with very heavy thick oak woodwork thru out. It also has oak floors, quarter sawn in narrow strips, that In most rooms are in need of refinishing. We had a professional come & take a look yesterday, she said the flooring is too thin to sand & refinish. I was shocked, the floors have never been refinished. I was so disappointed. What can be done, if anything? We also have extended our kitchen & wanted to put oak flooring down to match the rest of the house. She said they don’t make this thickness anymore & the new flooring would be much thicker, therefore making it higher than the dining room that opens to it. Hardwood Floor

You cannot restore every wood floor by simply refinishing it. If your wood floor has become warped or if several of the planks have become damaged, you will typically need to replace the entire floor, as finishing will only brighten an already-damaged surface. On really old floors, you may see the tongue where the boards come together, or your boards may lack adequate thickness. Floors like this are definite candidates for replacement, as refinishing is purely cosmetic. Denver Hardwood Floor Install
To fix a buckled floorboard, you need to be able to access the floor from below. The way to tackle this problem is to put weight on the buckled area from above — a cement block works well. Then install a 1 1/4-inch screw in the buckled flooring from below. Allow the screw to penetrate only halfway into the flooring, or it may come up through the finished surface. Driving the screw through the subfloor and into the flooring pulls the flooring down against the subfloor and gets rid of the buckled spot. Hardwood Floor
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. Denver Hardwood Flooring
This process involves treating the wood by boiling the log in water. After preparation, the wood is peeled by a blade starting from the outside of the log and working toward the center, thus creating a wood veneer. The veneer is then pressed flat with high pressure. This style of manufacturing tends to have problems with the wood cupping or curling back to its original shape. Rotary-peeled engineered hardwoods tend to have a plywood appearance in the grain.[3] Hardwood Floor
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