When there's uneven wear on the frets, you can have them 'stoned down', which is to say lowered by grinding and polishing until they have even height. Once a guitar has been stoned down a couple of times, it reaches the point when it can no longer be improved in this way, and it's time for a refret.
Most guitar necks will be ok with one or two frets, but after that, the integrity of the fingerboard is too compromised to do it again. For most guitars, you should be able to go 25 years with heavy, regular playing before the second refret. But yeah if you think you aren't able to hold any longer, getting guitar parts replaced is a wiser option.
Or, if you reach that extreme point, give the guitar away to someone who is going to love and care for it, but not going to be a constant player. Buy the guitar of your dreams.
If you are not an experienced repairman and your guitar has any value, take it to a competent repairman to get it done correctly.
That said, here are some links to how it's done-
http://www.guitarrepairbench.com/electric-guitar-repairs/remove_guitar_frets.html
Learn About Guitar and Instrument Fretting Fretwork
Refretting Guitars
Repairing Replacing Frets on Guitars Prestige Guitars Blog
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