I'm buying a 1921 Chicago Bungalow, and the wood floors throughout have a great character to them, but in some places they are severely worn (all the way to the bare wood).

I'm trying to find what the most cost effective way is to preserve them without losing the character that they have now. Ideally they'd look almost identical to their current condition, just minus the worn patches.

Any advice? There are patches like this throughout the house, so it seems like refinishing everything could be prohibitively expensive. Is this something I could do myself?