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How Long Should Major Home Appliances Last?

By
Real Estate Agent with Coldwell Banker Apex, REALTORS®

Personally, short sales and foreclosures have been dominating my transactions.  Given the layout of my current portfolio of transactions, I found an interesting article about the average life expectancy of major household appliances.  It's based on NAHB research.

My personal experience is somewhat skewed (trash compactors lasting decades have been my experience, but they may not make 'em like they used to), while NAHB says a trash compactor lasts an average of six years.

My buyers want to know what to expect out of a foreclosure with 10-year-old appliances (or less):  were they well-maintained?  They passed inspection, but...

To read the article, click here.

Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Angie, the NAHB runs a truly good website.  I have it in my "morning bookmarks".   I occasionally post a Link to an article from NAHB on my Facebook Page and Twitter Page.

Life Expectacy:   Property Managers / Landlords should budget for replacement based on the life expectancy.   When a Tenant calls to say that the HVAC has totally failed, it is good to know that you have money in a Reserves for Replacement Account.

Also - proper cleaning, proper maintenance, filter changing, and proper use can extend the Life of an appliance or piece of equipment.

 

Oct 18, 2010 01:33 PM