The inspectors at Holmes Inspection Company have conducted over 15,000 home inspections and we haven't found a perfect house yet. Since perfection is not an option, what is reasonable to expect?
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 selling price of the house. One year you may replace the furnace; a few years down the road you may replace the roof. Throw in an off the wall and unexpected repair in between and you average 1% per year. This rule-of-thumb is not far off, even for very expensive and very inexpensive houses.
NORMAL MAINTENANCE
If you strip away the surface cosmetic aspects, a house is made up of the structure, roof, exterior envelope and the "major mechanical systems" of the house. The "mechanical 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 or replacement pattern".
WHAT'S THE MESSAGE HERE?
A homebuyer should arrive at the home inspection with realistic expectations. If you are buying a 15 to 18 year old home, let's face it, you may be about ready for a new roof. If you are buying a 60 to 70 year old home, you may very likely need to plan to update the plumbing or electrical. Those are realistic expectations. Don't let this scare you away from a perfectly good home.
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