I have had terrific results with a product made by Flood called CWF. It will protect for 3-4 years and returns the wood to a nice honey-brown color. My fence is 16 years old and I re-did it early this summer. Looks better than new. Product lasts longer on a vertical surface, so floors may need to be re-done sooner. It is too thick to spray. I use a roller, then back brush with a 4" brush. Has no odor and equipment cleans up with soap and water. Worth a look.

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Tony