THE
1% RULE
When
you consider the life cycle of every component of a house,
a reasonable annual estimate
of the cost of normal maintenance is 1% of the value of the house.
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, both 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. Fortunately, they don’t all wear out at
the same time. Different components have different life cycles. Houses
tend to settle into what you might call a “normal maintenance pattern”. |
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. Don’t let this scare you away from a perfectly
good home. |
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 that there will be exceptions in every category. |
ROOF
|
Conventional
asphalt shingles ....................................................
Top quality asphalt shingles .........................................................
Low slope shingles .........................................................................
Slate....................................................................................................
Tar & gravel roof (built-up roof)......................................................
Single ply roof membrane .............................................................
Roll roofing........................................................................................
|
12 - 15
years
25
- 30 years
10
- 15 years
40
- 200 years
15
- 20 years
15
- 20 years
5 - 10 years |
EXTERIOR
|
Gutters & downspouts
...................................................................
Copper gutters and downspouts ................................................
Aluminum siding ............................................................................
Wood siding.....................................................................................
Stucco................................................................................................
Exterior paint ....................................................................................
Deck...................................................................................................
Asphalt driveway surface................................................................
Driveway sealer ...................................................................................
Concrete driveway................................................................................
Garage door opener............................................................................. |
20 - 30 years
50 - 100 years
50 plus years
maintenance dependent
maintenance dependent
4 - 6 years
10 - 20 years
10 - 20 years
1 - 3 years
30 - 40 years
8 - 12 years |
STRUCTURE
|
Termite
treatment ................................................................................ |
10 - 20 years |
HEAT
|
Conventional
furnace ...........................................................................
Mid efficiency furnace .........................................................................
High efficiency furnace .........................................................................
Cast iron boiler .....................................................................................
Steel boiler ............................................................................................
Copper tube boiler ................................................................................
Humidifier ..............................................................................................
Electronic air filter ................................................................................. |
20 - 25 years
20 - 25 years
unknown, suspect < 20
years
35 - 50 years
20 - 30 years
10 - 20 years
5 - 10 years
10 - 20 years
|
COOLING
|
Air conditioning
condenser ............................................................... |
10 - 15 years |
PLUMBING
|
Galvanized
steel supply pipe .....................................................
Copper pipe ..................................................................................
Toilet................................................................................................
Sink ................................................................................................
Faucet.............................................................................................
Whirlpool bath ..............................................................................
Shower pan...................................................................................
Pump for well ...............................................................................
Water softener .............................................................................
Sump pump .................................................................................
Water heater.................................................................................
Tile bathtub enclosure ............................................................... |
40 - 50 years
indefinite
30 - 40 years
12 - 20 years
10 - 15 years
15 - 25 years
unpredictable
10 - 15 years
5 - 15 years
2 - 7 years
8 - 12 years
10 - 50 years |
INTERIOR
|
Paint..............................................................................................
Windows ......................................................................................
|
5 - 10 years
maintenance dependent |