How to estimate maintenace costs on a home

By
Services for Real Estate Pros with ThinkBIGsites.com

Here is some food for thought.

I'm always in search of the "Perfect House", and as an experienced Home Inspector I haven't found one yet.

Every home has something to report.LOOK

So, since perfection is not an option, what should you expect?

I use the 1% RULE
When you consider the life cycle of every component of a house, a reasonable yearly estimate of normal maintenance costs are about 1% of the value of the home.

•·         One year you may replace the furnace;

•·         A few years down the road you may re-surface the roof.

•·         Throw in the odd unexpected repair in between and you average 1% per year.

It's incredible but this rule is not far off even for very expensive and very inexpensive houses.

NORMAL MAINTENANCE
If you strip away the cosmetics, a house is made up of the structure, roof, exterior envelope and the "systems" of the house. The "systems" are things like heating, plumbing, electrical and cooling.

All components and systems eventually wear out. Thankfully not all at the same time.

Different components have different life cycles. Houses tend to settle into what you might call a "normal maintenance patterns".

WHAT'S THE MESSAGE HERE?
A homebuyer should arrive at the home inspection with realistic expectations. If you are buying a 12-15 year old home, let's face it, you may need a new roof covering. If you are buying a 60 year old home, you may have to update some plumbing or electrical.

"Don't let that scare you away from a perfectly good home. Even if components are at the end of their serviceable life span they may well be performing just fine"   

SO, HOW LONG DOES IT LAST?
Here is a short list of typical life cycles of the most common components of the home.

Please keep in mind as always, there will be exceptions in every category.

  logoNLOGO

 

 

ROOF

Conventional asphalt shingles

12 - 15 years

Top quality asphalt shingles

25 - 30 years

Low slope shingles

10 - 15 years

Slate

40 - 200 years

Tar & gravel roof (built up roof)

15 - 20 years

Single ply roof membrane

15 - 20 years

Roll roofing

5 - 10 years

 

 

EXTERIOR

Gutters & downspouts

20 - 30 years

Copper gutters and downspouts

50 - 100 years

Aluminum siding

50 plus years

Wood siding

maintenance dependent

Stucco

maintenance dependent

Exterior paint

4 - 6 years

Deck

10 - 20 years

Asphalt driveway surface

10 - 20 years

Driveway sealer

1 - 3 years

Concrete driveway

30 - 40 years

Garage door opener

8 - 12 years

  

  

STRUCTURE

Termite treatment

10 - 20 years

  

  

HEAT

Conventional furnace

20 - 25 years

Mid efficiency furnace

20 - 25 years

High efficiency furnace

unknown, suspect < 20 years

Cast iron boiler

35 - 50 years

Steel boiler

20 - 30 years

Copper tube boiler

10 - 20 years

Humidifier

5 - 10 years

Electronic air filter

10 - 20 years

  

  

COOLING

Air conditioning condenser

10 - 15 years

  

  

PLUMBING

Galvanized steel supply pipe

40 - 50 years

Copper piping

indefinite

Toilet

30 - 40 years

Whirlpool bath

15 - 25 years

Sink

12 - 20 years

Faucet

10 - 15 years

Shower pan

unpredictable

Submersible pump for well

10 - 15 years

Suction or jet Pump

10 - 15 years

Water softener

5 - 15 years

Sump pump

2 - 7 years

Water heater

8 - 12 years

Tile bathtub enclosure

10 - 50 years

  

  

INTERIOR

Paint

5 - 10 years

Windows

maintenance dependent


I hope this helped.
Matt~

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Rainmaker
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Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi Matthew;

Thank you for the tips..........................................................................

Anthony

Aug 04, 2008 08:31 PM #1
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