I bought my house just over 2 years ago. The first thing I did was re-finish the hardwood floors on the main level (about 1000 ft^2). I did this successfully by following the advice from Pete's Hardwood Floors:
http://www.peteshardwoodfloors.com/
and by renting a drum sander and edger from HD. After spending about a month reading, watching tutorials, and soaking up every bit of knowledge I could get from the internet, I had a full understanding of what needed to be done and how to do it. The basics concepts are simple:
- Use a coarse grit sandpaper to remove ALL of the old finish from the floor and to level the boards. A drum sander will make easy work of the main field, but you'll need an edger to handle along the baseboards. You will then need a detail sander or appropriate hand tools to get into the corners, under door frames, and other hard to reach areas.
- Make a pass with a slightly finer grit sandpaper to smooth out the rough scratch marks from the first pass. Before starting, make large, sweeping pencil marks on the floor that start at the walls and project about 2 feet into the room. When those pencil marks are gone, you have sanded enough with this grit.
- Repeat step 2 with progressively finer sandpaper until you get to 80-100 grit. Pay special attention to your grit progression. This is the only way to ensure good results.
- Use a pole sander or buffer with a fine screen to blend edge marks with the drum sander marks.
- CLEAN OBSESSIVELY to get all of the dust off the floor.
- Apply stain and/or finish according to manufacturer's directions.
In my experience, the tools I rented from the home center worked just fine. Professionals have access to better tools, because they can justify the expense and see a tangible benefit to using heavy-duty equipment. If you have trouble using the drum sander offered by your local home center to remove old fiish, it's most likely because you aren't using an appropriate starting grit, you aren't changing the sandpaper frequently enough, or you need to start by cross-cutting (see the Pete's link above for more info).
I had a dining room floor that was previously re-covered with several decades worth of flooring choices. After stripping up layers of linoleum (?), we eventually got down to some nasty tar-based adhesive. I followed every piece of advice I could find to remove as much of the old adhesive as safely as possible, but eventually I had to leave it up to the drum sander to get the rest. The path to success turned out to be 16 grit sandpaper cutting across the grain of the wood at about a 10-20 degree angle. It was pretty damn awesome to see raw wood after all the hell we went through trying to remove the old adhesive. I think I used about 4 belts of sandpaper in that one room.
Waterlox was our finish of choice for the same reasons another poster stated above. That stuff is awesome.
I might come back with pictures when I have more time, but I could not be happier with our results. After computing all the costs (including paying ourselves since our time is valuable too), we did this job for about half the going rate of a professional contractor. The added benefit is that the knowledge I gained about sanding and finishing wood transferred directly when I wanted to build a dining room table, but that's another topic...
I was just at Pete's Hardwood Floors this past weekend (and the weekend before that, and the one before that...).
Great people, very friendly and they help you get up to speed with the equipment.
I spent about $600 on rental equipment and abrasives to refinish 7 rooms, one of them being a kitchen that was covered in sticky black cutback/mastic. I'll likely spend another $3-400 on Osmo, which is a hardwax oil.
Someone mentioned waterlox earlier and another said it was like Rubio Monocoat - they are 2 different types of finish.
There are 3 basic types, Oil based, Water based, and Hardwax Oil.
Oil based finishes penetrate but don't have as strong of a surface film protection like Water based, and they smell bad, take a while to cure, and yellow over time.
Water based finishes don't penetrate, don't smell as bad, don't take long to cure, and don't yellow over time.
Hardwax oil (monocoat, osmo, a couple others) finishes combine the best of oil and water. Penetration + surface film protection, doesn't yellow, doesn't smell too bad, doesn't need more than a couple coats and doesn't take too long to cure. However Monocoat isn't good for floors that have significant gaps (mine do) so I'm using Osmo.
I'm a woodworker so I felt comfortable with the whole process but have to admit it's a whole different ballgame. I never use grit below 80 and I hate using that big edger. I only edged up to 50, I'll edge 80 grit with my orbital sander on my knee pads. You can't really kneel with those edgers, your back just has to bend over and take it apparently. Then I'll screen 100 grit before I clean and apply finish.