Are you in the market to buy a home and curious what your potential out of pocket costs may be in the future? Check out the expected life cycles of components in your home, so you may plan ahead! On average, you should save a $1 a sq. ft per year, to maintain your home for future repair costs.
When the average buyer buys a home, they may not consider the future costs of maintaining their home. There are so many unexpected costs that may arise during home ownership. Don’t be caught unprepared! Start saving now for those unexpected costs. The following list shows the average life cycle of items, so you may plan ahead.
Roof – 20 years (asphalt shingles)
Exterior Paint – up to 15 years
Windows – 15-30 years
Carpeting – 8-10 years
Kitchen Cabinets – 50 years
Garbage Disposal – 12 years
Dishwasher- 9 years
Faucet – 15 years
Sink – 5-10 years (enamel coated steel)
Range – 13-15 years
Microwave Oven – 9 years
Refrigerator – 13 years
Wood Deck – 10-15 years
Security/Smoke Detector – 5-10 years
Whirlpool Tub – 20-50 yers
Shower Enclosure – 50 years
Tub/Shower Faucets – 20+ years
Toilet – Lifetime
Wood/Stone Flooring – 100 years
Electric Switches/Sockets – 10+ years
Air Conditioning Unit – 10-15 years
Garage Door Opener – 10-15 years
Driveway – 15-20 years (asphalt)
Washing Machine – 10 years
Dryer – 13 years
Heat Pump – 16 years
Furnace – 15-18 years
If you need an idea of the expected costs of the repairs, check out the following link.
In conclusion, each item on this list could be several hundred dollars, or up to 10’s of thousands of dollars for a new roof or kitchen. Keeping up with the various components in your home is so important in maintaining your property values. If you stay ahead of it yearly, you won’t have an influx of repairs all at once. So, make sure you keep an eye on the life cycle of components in your home now because it will save you money in the long run.
If you have any questions, or need assistance, please reach out!
Your High Performance Realtor!