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Durability: How long something lasts has a profound effect on the
cost of home ownership
Morris Digital Works Wire Service
A home is a lifetime investment. Did you ever wonder, though, how
long the components of that lifetime investment might last? The answer
ranges from a few months (lightbulbs) to centuries (foundations).
According to the nation's largest home inspection company, the average
homeowner spends up to three percent of a home's sale price on normal
maintenance annually.
Leaks -- They're the most common home repair problem. According
to experts, among homes less than 12 years old, one in seven will
leak; more than a quarter of homes aged 13 to 29 years leak; one third
of homes 30 years or older have leak problems. Repairs can cost anywhere
from a few cents for a new washer, to several thousand dollars for
repairs to a basement that has suffered extensive water damage.
Foundations -- Concrete footings and foundations are among
the heartiest building components, lasting up to 250 years. Costs
to repair foundation problems can range from $25 for patching a crack,
to $3,000 or more to re-support a wall. Major rebuilding can cost
up to $40,000.
Plumbing -- These repairs can also be big-ticket items, particularly
if the entire aged system has to be replaced. Fortunately, most modern
plumbing systems are designed to last a lifetime. Copper piping often
lasts as long as the house; plastic pipes have a life expectancy of
30 to 40 years. Appliances connected to plumbing often have defined
life expectancies. Dish washers and gas water heaters usually last
about 15 years.
Electrical systems -- Electrical wiring should last as long
as the house, especially if it's copper, but circuit breaker panels
sometimes give out after 40 years. Upgrading the electrical service
in an older home can cost anywhere from $600 to $1,200. Adding circuits
and/or outlets may cost between $250 and $400. Frequently-used electrical
appliances, including disposals and ovens/ranges, can show sings of
wear in as little as five years.
Roofs -- Enduring a range of climates year-round, roofs are
often a high maintenance item due to expansion, contraction and general
exposure. Asphalt shingles, the most commonly used type, last 15 to
20 years and average between $1,500 and $2,500 to replace. Wood shakes
should last 15 to 25 years. Replacements run $3,000 or more. A cedar
shake roof can cost $5,000 to replace, but such material can last
up to 40 years.
Heating and Cooling -- A furnace can last 25 years or nore,
depending on the type of fuel burned. It can cost several thousand
dollars to replace, and expense that can be postponed with regular
maintenance. A good central air conditioner should give you 15 to
20 years service. Repair or replacement depends on the extent of damage.
Masonry -- Thanks to the durability of brick, most exterior
masonry walls are good for many lifetimes. Re-grouting may be required
after 40 years or so.
Windows and doors -- They require particular attention to maintain
their effectiveness, including spot repairs for leaks, condensation
problems, and warping.
Home buyers can save future dollars by adopting two strategies. One
is simply to buy a new home with an insured warranty policy. A second
strategy involves purchasing an existing home. If the home is 15 to
20 years old, negotiate the replacement or repair of those systems
which are likely to fail in the near future before you buy.
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