One of the cheapest ways to redo a floor it to paint it. Make sure the floor is completely clean and dry first, and then you can be totally creative with the paint. When the paint is dry, put one or two coats of polyurethane over it. This does work but may not give you the desired effect. You can buy 12 x 12 vinyl tiles from home depot for about under a dollar, these look good for the price. The local dollar stores may have vinyl tile, we have one here that sells it in a pack of 30 for under $10. Big lots also have flooring from time to time.
We heard of one lady that did a floor over and used wallpaper. We thought that was an odd idea but as we looked into it, it seemed like it would be worth trying. So we tried it on a sheet of piece of plywood to see the results. It looked good after we glued it down , but saw that it will need to be sealed otherwise it would get damaged easily. After looking at our options we decided to try polyurethane. We did two coats and it looked great and had a nice finish to it. After we did that we heard about using brown paper bags, so we tried that with stunning results. You can read about it and see some of the results here. We came up with a beautiful floor covering that is very durable and easy to install. Head over to this website, http://faux-decorating.com for more information!