One Key Artifact All Home Owners Could Use

Many home buyers need help understanding their home systems like appliances, HVAC, and exterior and help planning for their replacements. The cost of these systems is frequently much larger than one might otherwise think. As part of the buying process, most homeowners hire an inspector to point out possible issues and the inspector frequently is able to identify age and life left in these key systems. At home buying time, this information may be too overwhelming to digest, so I’ve created a predictive analysis of potential future costs based on the actual age of your key systems to help you be successful homeowners.

You can tailor as needed, but this type of analysis serves as a starting place. Part of home ownership is understanding the systems in your home, understanding typical life expectancy and planning ahead for any replacements. Some home owners may choose to buy a warranty, but what if you want to pay for those items as needed, yourself? Some home owners simply set aside a percentage of their home’s value, maybe one or two percent annually, to cover those unexpected things. But what if you had a way to more accurately forecast when something might break and how much that expense might cost?

Take a look at this example of a 2002 house purchased in 2019:

In the above example for a home purchased in 2019, you see that many of the appliances (Microwave, Dishwasher, Dryer, etc) were assumed to have been original to the purchase of the home, in this case 2002. In that case, these appliances were expected to need to be replaced by 2020 for an estimated cost between $7,500 and $36,200. If you continue the timeline, you’ll see that the roof would be replaced in 2021 and windows in 2022 with the estimated costs of each. Here’s what it looks like year-by-year. Any replacements not made this year, would simply be added on to future years…

My goal during your purchase was to provide excellent service and that doesn’t change after closing. I want to continue to be a resource for you and your home needs. If you would like a Predictive Analysis of Repair Costs specific for you, let me know. I’m happy to create one just for you and your home!