Planning for the Life Expectancy of Your Home

Nothing in life lasts forever – and the same can be said for your home. From the roof to the furnace, every component of your home has a lifespan, so it’s a good idea to know approximately how many years of service you can expect from them. This information can help when buying or selling your home, budgeting for improvements, and deciding between repairing or replacing when problems arise.

According to a National Association of Home Builders (NAHB) study, the average life expectancy of some home components has decreased over the past few decades.  (This might explain why you’re on your third washing machine while Grandma still has the same indestructible model you remember from childhood.) But the good news is the lifespan of many other items has actually increased in recent years.

Here’s a look at the average life spans of some common home components (courtesy of NAHB).

Appliances. Of all home components, appliances have the widest variation in life spans. These are averages for all brands and models and may represent the point which replacing is more cost-effective than repairing. Among major appliances, gas ranges have the longest life expectancy, at about 15 years. Electric ranges, standard-size refrigerators, and clothes dryers last about 13 years, while garbage disposals grind away for about 10 years. Dishwashers, microwave ovens, and mini-refrigerators can all be expected to last about nine years. For furnaces, expect a lifespan of about 15 years for electric, 18 for gas, and 20 for oil-burning models. Central air-conditioning systems generally beat the heat for 10 to 15 years.

Kitchen & Bath. Countertops of wood, tile, and natural stone will last a lifetime, while cultured marble will last about 20 years. The lifespan of laminate countertops depends greatly on the use and can be 20 years or longer. Kitchen faucets generally last about 15 years.  An enamel-coated steel sink will last five to 10 years; stainless will last at least 30 years; and slate, granite, soapstone, and copper should endure 100 years or longer. Toilets, on average, can serve at least 50 years (parts such as the flush assembly and seat will likely need replacing), and bathroom faucets tend to last about 20 years.

Flooring. Natural flooring materials provide longevity as well as beauty: Wood, marble, slate, and granite should all last 100 years or longer, and tile, 74 to 100 years. Laminate products will survive 15 to 25 years, linoleum about 25 years, and vinyl should endure for about 50 years. Carpet will last eight to 10 years on average, depending on use and maintenance.

Siding, Roofing, Windows. Brick siding normally lasts 100 years or longer, aluminum siding about 80 years, and stucco about 25 years. The lifespan of wood siding varies dramatically – anywhere from 10 to 100 years – depending on the climate and level of maintenance. For roofs, slate or tile will last about 50 years, wood shingles can endure 25 to 30 years, the metal will last about 25 years, and asphalts got you covered for about 20 years. Unclad wood windows will last 30 years or longer, aluminum will last 15 to 20 years, and vinyl windows should keep their seals for 15 to 20 years.

Of course, none of these averages matter if you have a roof that was improperly installed or a dishwasher that was a lemon right off the assembly line. In these cases, early replacement may be the best choice. Conversely, many household components will last longer than you need them to, as we often replace fully functional items for cosmetic reasons, out of a desire for more modern features, or as a part of a quest to be more energy efficient.

Are extended warranties warranted?

Extended warranties, also known as service contracts or service agreements, are sold for all types of household items, from appliances to electronics. They cover service calls and repairs for a specified time beyond the manufacturer’s standard warranty. Essentially, warranty providers (manufacturers, retailers, and outside companies) are betting that a product will be problem-free in the first years of operation, while the consumer who purchases a warranty is betting against reliability.

Warranty providers make a lot of money on extended warranties, and Consumers Union, which publishes Consumer Reports, advises against purchasing them.  You will have to consider whether the cost is worth it to you; for some, it brings a much-needed peace of mind when making such a large purchase. Also, consider if it the cost outweighs the value of the item; in some cases, it may be less expensive to just replace a broken appliance than pay for insurance or a warranty.

Posted on March 6, 2019 at 8:00 am
Jon Holsten | Category: Home Maintenance, Housing Trends | Tagged , , , , , , , ,

5 Home Improvements That Will Boost Your Property Value

A home is the largest investment most people will make in their lifetime, so when it comes time to sell, homeowners often wonder what they can do to get the most return on their investment. Many have the misconception that remodeling is the way to go, but that isn’t always the case. Rather than going all-in on upgrading your home, you should know which home improvements are worth it, and which ones aren’t.

We’ve sifted through the research and come up with a quick list of five home improvements that’ll help buyers fall in love with your home when it comes time to sell.

1. Add a little curb appeal 

Curb appeal is critical. As the name suggests, it’s the first thing buyers see when pulling up to the front of any home so it needs to be in nearly pristine condition. Start with the garage door for the most immediate return. According to Remodeling Magazine’s 2018 Cost vs. Value report and Money.com, the cost of updating your worn builder-grade garage door with an upscale steel model is about $3,470, and it’ll boost your home’s value by 98.3 percent of the installation price, which means you’ll lose about $60 when it’s all said and done.

Landscaping can also go along way for a minimal upfront investment. Six rounds of fertilizer and weed control will set you back about $330, but when it comes time to sell, you’ll see an ROI of about $1,000 according to a survey by the National Association of Realtors.

Other improvements you can easily make to your curb appeal include:

  • Pressure wash the exterior
  • Liven up your front door with a fresh coat of paint
  • Replace hardware such as doorknobs and knockers
  • Install updated house numbers
  • Make your walkways pop with new greenery or flowers
  • Plant a succulent garden
  • Update your porch lights
  • Add a little charm with window flower boxes
  • Stage your porch

 

2. Install hardwood floors 

Installing or upgrading hardwood floors is pretty failsafe as most buyers love it. Ninety-nine percent of real estate agents agree that homes with hardwood floors are easier to sell, and 90 percent of agents say that they sell for a higher sale price, according to the National Wood Flooring Association. Similarly, research from the National Association of Realtors shows that 54 percent of homebuyers are willing to shell out extra cash for homes with hardwood.

As for your return on investment, NAR’s 2017 Remodeling Impact Report projects that homes that already have hardwood floors will likely see 100 percent return. On the flip side, installing hardwood flooring pays off almost as well with a 91 percent return on investment. It can cost about $5,500 to install, and it’s projected to add about $5,000 to the home value. These estimates may vary depending on the type of flooring you install.

 

3. Upgrade your kitchen

According to the National Association of Realtors, real estate agents believe that complete kitchen renovations, kitchen upgrades, and bathroom renovations will add the most resale value to a home (in that order). However, complete kitchen renovations can be costly and unnecessary. In fact, kitchen remodels have some of the worst return on investment stats. Remodeling Magazine’s 2017 Cost Vs. Value report found that a mid-range kitchen remodel cost exceeds its resale value by more than $21,000, and that number more than doubles in an upscale remodel. Rather than spend a ton of cash and weeks (or months) on renovating, put a little elbow grease and a small budget into it.

Instead of doing a full renovation, focus on these smaller updates:

  • Clean
    • Organize your pantry
    • Use a little Murphy Oil Soap and hot water on all of your cabinets
      • Polish cabinets with Howard Feed-In-Wax
      • Tighten all hinges
    • Clean grout and tiles
    • Shine your sinks and hardware until you can see your face in it
    • Deep clean your stove
  • Give your kitchen a fresh coat of neutral paint
  • Update lighting fixtures, and replace light bulbs
  • Spring for a new cabinet and door hardware
  • Make your countertops look new
  • Upgrade your appliances

 

4. Go green

Today’s younger generations are embracing eco-friendly living, and millennials are leading the pack. According to the National Association of Realtors’ 2018 Home Buyer and Seller Generational Trends Report, millennials make up the largest segment of buyers, holding strong at 34 percent of all buyers.

When it comes to attracting buyers who are willing to pay top dollar, going green makes sense. A Nielson study found that, of more than 30,000 millennials surveyed,66 percent are willing to shell out more cash for conservation-conscious, sustainable products. Depending on where you live, consider installing solar panels, wind turbines, and eco-friendly water systems.

No matter where you live, attic insulation replacement and weather stripping are safe bets. Attic insulation replacement was a top home improvement upgrade last year, and homeowners saw a 107.7 percent return on the investment. Weather stripping, a fairly inexpensive DIY project, costs, on average, about $168 nationally.

 

5. Create a summer retreat

Homes with pools can fetch a higher selling price if done properly. There are in-ground pools and above-ground pools. To truly add value, you’d want to go with an in-ground pool. It’s a permanent investment that costs more upfront, but above-ground pools don’t really add anything to a home other than a nice personal oasis from hot weather.

Pools cost about $1,000 on average to maintain between the seasonal openings and closings, necessary upkeep and utility bills, according to Houselogic.com and financial consultant Dave Ramsey’s website. Some buyers might not be up for that cost. However, pools can help sell a home especially when you live in a higher-end neighborhood where everyone has pools and in warmer climates like Florida, Arizona or Hawaii.

Ramsey wrote that a well-marketed in-ground pool can boost a home’s value as much as 7 percent, but he stresses the importance of making sure the style of the pool matches the house and surrounding property. Be sure that any pool doesn’t completely consume the outdoor space. Pools that make sense locationally and complement the property are the best. If the pool is just an expensive eyesore, it’s probably better to remove it.

With these upgrades, your home will surely see a higher price tag when you go to sell because, as the numbers show, buyers swoon for an outdoor retreat, a like-new kitchen, classic hardwood flooring, and green upgrades.

 

Our guest author is Sarah Stilo, the Content Marketing Coordinator for HomeLight, which helps pair homebuyers with agents. They can be found at HomeLight.Com.

Posted on February 19, 2019 at 8:00 am
Jon Holsten | Category: Back Patio, Fort Collins Real Estate, Housing Trends, Northern Colorado Real Estate, Wellington Real Estate, Windermere Real Estate, Windsor Real Estate | Tagged , , , , , , , , , , , , , , ,

More Than a Yard: Finding the Right Home for Your Pooch

For many house hunters, a dream home isn’t complete without being a good fit for the family dog. Some might see the fenced in yard, and consider the box checked. However, if you are looking for your next home, you may want to look a little deeper to be sure the fit is right before signing on the dotted line.

It’s worth taking a little extra time to consider your pooch in a little more depth. Here is a quick checklist of considerations to be sure you find the right fit for your canine companion:

 

What’s in a Yard?

 

A fenced yard is, of course, ideal for many dog owners. It gives you the ability for off-leash play, a must for meeting the exercise needs of active breeds such as Border Collies or Labradors. But not all yards are the same. Here’s a quick checklist of what to look for:

  • Check the fencing to be sure it is secure. Factor in any repair costs into the cost of the home since they will need to be addressed right away.
  • Are there flower beds with potentially toxic plants that will need to be moved outside of the fenced area? Examples include many spring bulb favorites such as daffodils, tulips, and crocus, as well as some bushes such as azaleas.
  • Is there a nice shady spot so your pooch can find shelter from the heat on a hot summer day?
  • Is there access to water for an outdoor bath?
  • Will delivery people be able to access your main entrance when the dog is outside without entering the fenced part of your yard? It is easy to overlook, but this can become a major annoyance if you do a lot of online shopping.

 

Indoor Space Considerations

 

It won’t always be a beautiful sunny day, even in your dream home. Make sure your new home will have enough space for a little indoor play on rainy days and during colder winter months. A long hallway can make a great runway for a game of fetch when getting outside just isn’t practical.

Likewise, consider the needs of aging or injured dogs. Does the layout of the home require going up and down stairs to get to the most used areas of the home? This can be a major problem for some special needs dogs, and a deal breaker for some pet owners.

Finally, most dog trainers recommend that every dog has a little space to call their own during times of stress. This may be as simple as a corner of the living room with a comfy dog bed or crate. If you have a puppy, however, a space that can be puppy-proofed and cordoned off (with appropriate flooring for potential accidents during potty training) is in order.

 

Go for a Walk

 

It may be impractical to include a dog walk for every home you look at while searching for your dream house. However, once you are down to a short list, it is time to actually take your dog on what is likely to be the daily walk route. Make sure this is a walk you would feel comfortable making every day, or even letting the kids take.

Be on the lookout for hazards: A dangerous intersection, a portion of the walk that requires walking in the road, or a neighbor who lets their dog run right up to the curb with invisible fencing (a recipe for territorial fights with leashed dogs passing by). A drive through is unlikely to reveal these walk spoiling annoyances. In addition, look for evidence of good lighting for evening or early morning walks.

 

Nearby Canine Amenities

 

If you are moving to a new part of town or relocating to a new state altogether, it is worth doing some research to find out where the pet services are located. Depending on the services you tend to use, it can make a big difference in your quality of life to be able to take advantage of nearby conveniences.

Think about what services you are likely to use most, and check on Google Maps to locate:

  • Veterinarians
  • Dog boutiques (particularly important if you buy specialty food)
  • Grooming services
  • Doggy daycare and boarding
  • Pet sitting and dog walking services
  • Dog-friendly restaurants (BringFido.comis a great research tool for this)
  • Dog parks and dog-friendly paths for long walks

 

Flooring

 

Although luxurious hardwood flooring adds a great deal of ambiance to a home, it will have the opposite effect if it gets scratched up from the nails of a rambunctious canine. Large and even medium sized dogs can easily create unsightly scars in hardwood floors that can only be fixed by a professional who will need to sand away the wood then stain and refinish it. It’s a costly fix!

Modern carpets can generally hold up to doggy traffic. However, think about where you will be coming in and out of the house with your pooch to be sure you have a place to wipe muddy paws first on rainy days. A mudroom or garage entrance can easily stow a few extra towels for the job.

Tile and high-quality laminate flooring are the most durable as both will resist scratching and are easy to clean.

 

Consider Pet-Friendly Condos and Planned Communities

 

If you have a truly pampered pooch, one way to go the extra mile is to ask your realtor about dog-friendly communities in your area. Many condominium complexes, for example, have pet services right on site. Pet grooming, pet-sitting, dog walking services, and even a fenced in dog park and/or pool is available in some areas.

Work with a Knowledgeable Realtor

 

Make sure to let your agent know upfront that you have a canine member of your family to consider during the house hunt. If there are certain “musts” such as a fenced yard, or proximity to veterinary services, be sure to put that on the table upfront to help your realtor find a home that works for you and your furry friend.

 

Sharon is the lead author at wileypup.com. She received her M.S. in Science & Technology Studies from Virginia Tech and has worked as a professional dog trainer for over 10 years.

Posted on February 13, 2019 at 6:42 pm
Jon Holsten | Category: Fort Collins Real Estate, Homes for Sale, Landscape, Windermere Real Estate | Tagged , , , , , , , , , ,