Age Matters
After intense shopping, you have found the house you want to write an offer on. Have you looked at things like the appliances and major fixtures? Everything has a life expectancy and could potentially cause you some serious out of pocket expenses in the first few years after your purchase. It’s important to consider the age of items like the furnace and roof before submitting an offer. After all, age matters.
How old is too old?
Even though an appliance is working well, we know it’s not going to last forever. Let’s take a look at the most common household appliances and just how long they typically last:
- Microwave Oven: 9 years
- Refrigerators: 13 years
- Freezers: 11 years
- Range (gas): 15 years
- Range (electric): 13 years
- Dishwasher: 9 years
- Washing Machines: 10 years
- Dryers (gas and electric): 13 years
Consumer Report helps us determine the average lifespan of common household appliances and fixtures. When looking at a new home, be sure to take note of the fixtures and appliances, if they appear to be 10 years or older, you’ll most likely need to replace them in the next few years. Most of the time, you can identify the age of an appliance by the dated sticker on the back of the unit. If there is not a dated sticker, there are websites that can help you determine the age of your equipment.
Other things that are considered major home purchases have a much longer life expectancy. A roof, depending on materials, is good for 20-30 years from the date of installation. For this, you may have to ask the current owners when the last replacement date was. Windows are another item you may have to ask the current owners about. They have a lifespan of up to 40 years, depending on the quality of materials.
Will age affect the asking price?
The thing to really consider when shopping for a new home is how many of these items are over the 10-year mark. Making a wise choice now, with a little negotiation, can save you thousands in the long run.
At the HodosGroup of Long and Foster we help you to assess all aspects of the home you want to purchase and evaluate what the best decision is for you.
Posted in Buyers