How Long Will This Last? (By Request)

I think that most everybody checks expiration dates on items they purchase from a grocery store, especially if it is a bulk item. Knowing the longevity of your purchase will dictate how you use it. For example; you may not buy a bulk item if your family cannot finish the entire item before the expiration date, that would be a waste of money. The items you buy from a grocery store are small ticket items compared to the purchase of a home, but how many people check the expiration date of their home’s components and appliances? The answer is very few people know the longevity of their home’s components and appliances, unless they have had a handyman work on their house or have had a home inspection. As a homeowner, knowing the longevity of your home’s components and appliances can help you budget for repairs, and help avoid expensive surprises. As a home purchaser, knowing the longevity of the home’s components and appliances can help you make the best deal on your purchase. For example; If you are looking to purchase a home that is fifteen years old, and all components and appliances are original, you can expect to replace the appliances soon and other major components in the next five years. This house may not be for you, if you cannot budget twenty to thirty thousand dollars or more for repairs in the next five years. Or maybe this information can help you negotiate a purchase price that reflects the cost of the anticipated repairs.

Tune in tomorrow for a guide line list of the maximum number of years you can reasonably expect various components and appliances in your home to last.