My first house was built in 1951 with mill scraps from the mill across the street, and pieces from old buildings ( old at the time of construction). The ceiling was breadboard overlaid with sheetrock. All window jambs were redwood with square nails. The original house was built right, but it was only 500sf. The other 600 sf had no foundation, just a 6"x6" strip of concrete on the ground. So glad I don't own that heap of junk anymore.

That's an economical way to go as well, if you do the work. Refinishing is more work, but you e saved a lot doing the install yourself and you got 8-15 years out of it before hiring someone to refinish it. It is possible to diy, but I would hire that out. I do everything diy and have been in the trades 20 years. I'll do my own foundation, electrical, plumbing,framing,roofing, grading, paint, sheetrock, build my own cabinets,, you get the point. But I would not try refinishing a hardwood floor.