Mechanicals, Appliances and Exterior - Replacement Costs & Life Expectancy
No one likes an unexpected expense
Some of the most common questions I get as a realtor are…
“How old is that?
“How long do they last?” or “When am I going to need to get it replaced?”
“How much does it cost?”
No matter what property you’re buying, maintenance, repairs and replacements will be required during home ownership. The great thing is…you can do your best to plan for them proactively. Because no one likes an unexpected expense.
Home Inspections
Home inspections are a great way to get a better understanding of the current wear and tear of your soon-to-be home, and should be leveraged when possible, if buying a home. The outcomes of an inspection can be used to negotiate immediate needs/repairs/replacements that should be addressed prior to taking over ownership. It is a great safety net to ensure things are in proper working order before moving in. (Note: If a mechanical or appliance is in proper working order, no matter the age, there are typically no grounds to ask a seller to replace the item(s)).
Home inspections don’t just need to be leveraged when purchasing a home. You can schedule a full or partial home inspection, with a local home inspector, 5, 10 or even 40 years down the road after buying a home. They will check the water pressure, for any active plumbing leaks, electrical outages, water intrusion, attic insulation needs, etc. So if you’re curious what type of shape your home is in, I highly encourage getting one scheduled.
Life Expectancy and Cost
Coming out of an inspection, you will be given the age and general shape of your appliances, mechanicals and exterior foundational items. To help you better understand the typical life expectancy and cost associated with these, I’ve outlined a high level snap shot for each below. If you had a home inspection done in the past, it is a good idea to reference back at your report to better understand age ranges and ensure you are properly maintaining each of them based on their needs. This generally helps provide a longer life expectancy and helps minimize unexpected surprises.
1
Exterior
Roof
Life Expectancy: 15 - 30 years
Cost: $5,000 - $15,000
Exterior Paint
Life Expectancy: 4 - 10 years
Cost: $2,000 - $10,000
Windows
Life Expectancy: 10 - 40 years
Cost: $400 - $2,000 (each)
2
Appliances
Dishwasher
Life Expectancy: 5 - 10 years
Cost: $400 - $1,500
Range / Stove
Life Expectancy: 15 - 20 years
Cost: $600 - $2,000
Refrigerator
Life Expectancy: 15 - 20 years
Cost: $800 - $2,500
Microwave
Life Expectancy: 5 - 10 years
Cost: $100 - $500
Garbage Disposal
Life Expectancy: 8 - 12 years
Cost: $150 - $400
Hood Venting
Life Expectancy: 20 - 30 years
Cost: $500 - $1,500
Washer / Dryer
Life Expectancy: 10 - 15 years
Cost: $500 - $1,500 (each)
3
Mechanicals
Furnace / Heater
Life Expectancy: 15 - 20 years
Cost: $2,500 - $6,000
Air Conditioner
Life Expectancy: 10 - 20 years
Cost: $2,500 - $5,000
Water Heater
Life Expectancy: 10 - 15 years
Cost: $500 - $1,500
Note: If you own a rental, the level of use will vary and sometimes cause the life expectancy to reduce. An easy example is if you own a duplex like me and everyone shares one washer and dryer. The appliance is being used twice as much, and therefore the life expectancy will be less than the average. Same goes for family size. If you are a family of 2 vs. a family of 6, your life expectancy will vary based on average use.
Want to learn more about how you can properly maintain these big ticket items? Subscribe below to make sure you don’t miss my next update! A weekly recap will be sent to your inbox so you stay up on the latest home tips and tricks.
Take care!
Jen
Real estate investor, landlord and DIYer, Realtor, Business consultant, Globe trotter & Converting vegan.
