When you want to add a touch of natural beauty to a room, or even a whole home, nothing beats the warmth and elegance of hardwood. Of course, hardwood can also be quite expensive. Whether you’re installing new floors or refinishing existing hardwood, there are several factors that affect the overall cost of the job.

The type of wood you choose, the size of the room and the various steps required in the installation or refinishing process determine the final cost, so it’s important to consider everything before you decide which way to go.

Installation of Hardwood Flooring

While hardwood is among the most expensive flooring options, installing new hardwood can change the entire look of a room and can also add value to your home when it comes time to sell. This makes it well worth the investment. In general, it costs more to install a new hardwood floor than to refinish an existing one but there are several ways that you can help to cut back on costs. 

The average cost of installation is $4,500, though it can vary from $2,000 to $11,000, depending on the type of flooring, where you live, if you need to remove furniture or appliances from the room, repairs to the subfloor and the removal and disposal of old flooring.

Floor Type

There are many different types of wood to choose from, each of which can provide a different look to a room. Softwoods such as pine are usually the cheapest, averaging between $3 and $6 per square foot, while mid-priced varieties like cherry and oak range from $5 to $10 per square foot. More exotic woods like Brazilian walnut and mahogany can cost as much as $8 to $14 per square foot.

The cost to install these woods also varies; from $3-$5 per square foot up to $4 to $8 per square foot.

Location

Whether you choose to install a new hardwood floor or refinish an existing one, you’ll likely need to hire a flooring company to do the work for you. Choosing a company that is local to your area can help to save you money. 

Removing and Replacement of Furniture and Appliances

In order to install new floors you will need to completely clear any furniture, appliances or furnishings in the room. This is usually not included in the estimate for the project and if they have to do it themselves, contractors may charge a premium. You can save money by clearing as much of the room as possible yourself.

Repairs to Subfloor

If the subfloor beneath your hardwood is in poor condition it will need to be repaired before a new floor can be laid. Again, this will be an additional charge that can raise the overall cost of installation. Materials for subflooring can cost as much as $22 per sheet of plywood and anywhere from $20 to $35 per hour for labor.

Removal and Disposal of Old Flooring

Obviously, before the new floor can be laid the existing floor will have to be removed and disposed of, which can add another extra expense.

Refinishing

If your floor has only minor damage, refinishing can be a much more cost-effective option. While there are various factors, including the size of the room and the availability and cost of labor that can affect the overall cost, the average for refinishing a hardwood floor is $1,700. 

Depending on the circumstances involved in your specific job, prices can range anywhere from a low of $1,050 to a high of $2,400.  Costs per square foot average between $3.25 and $5.00. 

The per-square-foot price can vary depending on if you’re having an entire home done or just refinishing a single room.  Detailed areas like stairs can be more expensive, generally between $40 and $75 per tread, because they require more skilled work.

When getting an estimate, your contractor will take into consideration the various steps required in refinishing: preparation, sanding, staining, and top coating.  The amount needed for each will affect the overall price.  

There are several factors that can have an effect on pricing, including the size of the floor, local labor costs, skill, furniture moving, removing carpeting or flooring, repairs, and cleanup.

Size of Floor

In general, smaller rooms will cost more to refinish per square foot because they may be too small to accommodate sanding equipment and will therefore require specialized equipment. 

Local Labor

Your location can determine cost in several ways. In large metropolitan areas where the demand for work is higher, contracting companies may charge more. Also certain regions, such as the Northeast, have higher labor costs.

Skill of Labor

You may be able to find a company that charges considerably less than the competition but often that reflects the level of their skill. Bargain basement shopping can lead to a less-than-ideal finished job and extra costs to repair it, so shop wisely when hiring a contractor and you could save yourself money in the long run.

Furniture Moving

Whether refinishing or installing, the room that requires the work will have to be cleared before the job can begin and contractors will usually charge extra for this. Again, you can save some money by doing as much of the moving as possible yourself.

Removing Carpeting/Flooring

If there is carpeting or another flooring on top of the hardwood you want to refinish, it will need to be removed first, which is another added expense. This is another job you can probably take on yourself to help cut costs.

Repairs

If the floor is too damaged, refinishing won’t be possible.  If this is the case, the floor will have to be repaired before it can be refinished, adding another charge to your overall cost.

Cleanup

Because it includes several rounds of sanding, staining, and finishing with a top coat, refinishing can be a messy process. Unless your contractor specifies a cleanup cost in their estimate, you may have to pay extra for a cleaning service after the refinishing is completed.

Do It Yourself Costs

You can always try to save yourself some money by taking on your refinishing or installation job yourself. Sanding machines can be rented from your local hardware store for around $300 to $400 and you’ll also have to purchase supplies like stain, finish, and brushes. 

This can cut down on overall costs significantly as it eliminates the cost of labor, but unless you are very secure in your abilities, you can’t ensure that you’ll get the same results as the professionals do.

Bottom Line

Nothing can match the natural beauty of hardwood floors and most people find it worth the investment to make sure their floors are in the best shape possible.  That can mean either refinishing an existing floor or installing a new one.

Installing a new floor is more expensive than refinishing an existing one, but either can go a long way toward enhancing the beauty of your home. Before you make your choice, you should shop for comparison, getting several contractors’ estimates to give you an idea of the cost. With the right choice, you can get the most out of your hardwood floors without spending a fortune.

Call Plus Hardwood Flooring today at (773) 954-4982 for a free estimate.