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 home buyer 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........12 - 15 years Top quality asphalt shingles.............25 - 30 years Low slope shingles................................ 10 - 15 years Slate............................................................... 40 -200 years Tar & gravel roof (built-up roof).... 15 - 20 years Single ply roof membrane....................15 - 20 years Roll roofing.................................................5 - 10 years
EXTERIOR Gutters & downspouts.............................20 - 30 years Copper gutters and downspouts........50 - 100 years Aluminum siding...........................................50 plus years Wood siding....................................................maintenance dependent Stucco...............................................................maintenance dependent Exterior paint................................................. 4 - 6 years Deck.....................................................................10 - 20 years Asphalt driveway surface........................10 - 20 years Driveway sealer...............................................1 - 3 years Concrete driveway.......................................30 - 40 years Garage door opener.......................................8 - 12 years
STRUCTURE Termite treatment..........................................10 - 20 years
HEAT Conventional furnace.............................20 - 25 years Mid efficiency furnace.............................20 - 25 years High efficiency furnace......................... unknown, suspect < 20 years Cast iron boiler........................................... 35 - 50 years Steel boiler.................................................... 20 - 30 years Copper tube boiler...................................... 10 - 20 years Humidifier...........................................................5 - 10 years Electronic air filter...................................10 - 20 years
COOLING Air conditioning condenser................... 10 - 15 years
PLUMBING Galvanized steel supply pipe.................. 40 - 50 years Copper pipe....................................................... indefinite Toilet..................................................................30 - 40 years Sink.......................................................................12-20 years Faucet..................................................................10 - 15 years Whirlpool bath..............................................15 - 25 years Shower pan.......................................................unpredictable Pump for well.................................................10 - 15 years Water softener................................................5 - 15 years Sump pump............................................................2 - 7 years Water heater.....................................................8 - 12 years Tile bathtub enclosure..............................10 - 50 years
INTERIOR Paint......................................................................5 - 10 years Windows.............................................................maintenance dependent
