The common man's perception about refinishing a hardwood floor is if of a task that requires a lot of money to be accomplished. However, you could either opt for a very costly redoing or of one that manages to keep the costs low. There is no fixed cost for refinishing these floors. In fact, the costs can range from around $1.25 to even more than $4.00 per square foot. Apart from that, it is quite unlikely that you would do this job yourself as you require professional help. Therefore, make up your mind that you would have to bear high labor cost as well. It could be around $3.00 or even more. However, this is not the only factor as you might need to take into account a lot of other things too. Also, the above mentioned estimates of costs might vary due to economic conditions. Now coming to the condition of the floor, you cost might vary due to it as well. If your floor is damaged very poorly and you feel that it requires structural repairs, then you are supposed have them done before the refinishing. One important cost factor could be removal of any second flooring on top of the hardwood floor such as a carpet. You could probably do this job yourself, however it requires patience as a lot of your time would be occupied and it can be a bit ‘not so clean' task! So assuming you hire another person for this chore, you would obviously have to incur this cost as well. Now, your type of hardwood floor is a very important aspect too. Considering maple, it is very difficult to refinish and you are likely to require professional assistance. In case, your hardwood floor is actually a layer of hardwood on top of layers of other woods, you could do the refinishing if you are extra careful. Now, if you really want to avoid proper refinishing, you could probably renew the previous polish. This is quite simple as all you have to do is recoat your floor. You could even do it yourself and so it could be a cost effective method as well to restore your wooden floor's grandeur. In case the floor has to be refinished at any cost, you should let your heart fall for the good aftereffects, as a good finish on a good wooden floor, can really boost the value of your property. Compared to the cost of refinishing, the rise in value is much higher, giving you a competitive advantage over the others sellers. There goes a tip for all the property sellers out there! Being a tough job, doesn't mean it's not going to pay you back. Even if you are living in the wooden floored area, you would certainly not like a dull, ‘not at all glossy' floor. So, if you can afford it, you should preferably go for repairing all the defects and then polishing it all over again with a good polish- could be a suggestion by your professional advisor.