Guest blog from Meyer’s Real Estate Group
Most buyers that purchase a home intend to live there for awhile. Ideally, the components that keep everything in our homes running smoothly will last, too. But nothing lasts forever, and the major systems and appliances we use every day will eventually wear out.
Here’s an overview of the lifespan of common systems in your home and what you can expect to pay for replacement.
Air Conditioner. 10-15 years is a typical lifespan for an air conditioning unit Replacing this system will cost between $5,000-5,500.
Furnace. Surprisingly, the average furnace lasts longer and costs significantly less to replace than the air conditioning system. Modern furnaces live 15-30 years and replacing this system will cost an average of $3880.
Roof. The average shingle roof will last 20-30 years, a figure largely impacted by the region in which you live. Different regions have variable factors like weather and pests. Replacement costs hover around an average of $6,600, nationally. If you live in an area known for termites or challenging weather, periodic inspections by a qualified roofing pro can help you head off more costly issues at the pass.
Pipes. The record-setter for systems in your home most likely to outlive all the rest is, of course, pipes. With an impressive lifespan of 75-100 years, the pipes in the floor, ceilings and walls of your home will likely last a very long time – especially if your home was constructed in the last 10-20 years. Replacement cost averages $1,193 nationally.
Electrical. Internal wiring, lighting, outlets – these things are easy to ignore, but over the course of 10 years on average, the electrical system in your home will begin to show its age. Average upgrade/replacement cost around that time is between $1300-1400.
Garage Door Opener. Your garage door itself may require minor repairs from time to time, but the garage door opener should last 10-15 years. At that point, replacement costs $319 on average.
Toilet. Your loo should provide excellent service for about 10 years, at which point you’ll shell out $350 bucks or so for a new model.
Water Heater. A traditional tank system water heater will wear out after 10-18 years. A new one will set you back close to $900. Tankless water heaters cost $1500 + on average and last about 20 years, but with 30% of a home’s energy bills spent warming the water in your traditional tank system, the initial investment may pay off over time.
Washer & Dryer. A new set will last 10-13 years. Replacement for a pair of top or front loading machines averages $1000.
Refrigerator. There are several simple ways to extend the life of your refrigerator, one of which is cleaning the external components on the back. Without extenuating measures, though, the average fridge will last 13 years. Replacement cost is $1500.
Oven. As the heart of your kitchen, you can expect your oven to bake your cookies, cakes, lasagnas and meat loaf to perfection for 13-15 years. Average replacement cost is $1000, but if you have caviar and champagne tastes, you can certainly spend more.
Dishwasher. Washing dishes by hand is so 1965! Chances are good you could work a kitchen sponge and a bottle of dish soap every day if you had to, but busy lives demand conveniences like dishwashers. You can expect yours to last about 9 years and cost $570 on average to replace.
Garbage Disposal. With normal use, your garbage disposal will last about 12 years. A replacement costs $300-400.
Microwave. This small appliance sees a lot of use in most homes, and not surprisingly it’s one of the first to go. A quality microwave will last 9 years on average, and a professional model will run in the $300 neighborhood, depending on functions, features, mounting and whether your kitchen features a built-in microwave/ventilation system.
If you are wondering which items to service or repair in advance of selling your home, or considering investing in upgrades, or you need a qualified professional in your neck of the woods, drop me a line. I’m here to advise you in any way I can. With my experience in residential and commercial building and inspections, chances are I also know someone in the right line of work to assist you on your next home project. Just ask!