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Replacing old hardwood with new hardwood, questions.

We are renovating the entire second floor - we have old hardwood floors that I don't appreciate because the strips are narrow. And the original install was not done as well as I think it should be. I'm wondering if there is any way to reuse the floor somehow and correct the problem, or should we start over? How expensive is it to have all new hardwood floors installed and finished? Is there any way to reduce the cost?

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