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Study of Life Expectancy of Home Components Study of Life Expectancy of Home Components Study of Life Expectancy of Home Components Study of Life Expectancy of Home Components Study of Life Expectancy of Home Components Study of Life Expectancy of Home Components Study of Life Expectancy of Home Components

Study of Life Expectancy of Home Components

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Study of Life Expectancy of Home Components

Pre-Listing Pre-Purchase or FSBO Appraisal. Whether you’re a homeowner selling your property on your own or a seasoned realtor trying to establish a fair list price it’s often difficult to sift through all of the market data to determine a true value for your home....

Study of Life Expectancy of Home Components

Tax Assessment Appeal Appraisal. The best way to win an assessment appeal hearing is with a certified appraisal.

Study of Life Expectancy of Home Components

Estate or Probate Appraisal. When an estate has a transfer of ownership due to death or inheritance, it is very common for a real estate appraisal to be needed for tax purposes....

Study of Life Expectancy of Home Components

Divorce Appraisals. One or both parties should hire the services of a professional real estate appraiser to estimate the fair market value of the home. An appraisal for asset division should include a well-supported, professional report that’s defensible in court....

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Study of Life Expectancy of Home Components

February 17, 2018 by Bostedo Appraisal Services - Pittsburgh Appraisers

Study of Life Expectancy of Home Components

 

Study of Life Expectancy of Housing Components
Prepared by the Economics Group of NAHB

 

While this study may be older, considering the Financial collapse of 2008-2010, many lenders, manufactures and the economy as a whole were more focused on survival opposed to innovation. Under these catastrophic conditions that occurred, it makes this study as relevant today as it was at the time it was produced and for the foreseeable future.

[Note: This report should be used as a general guideline only. None of the information in this report should be interpreted as a representation, warranty or guarantee regarding the life expectancy or performance of any individual product or product line. Readers should not make buying decisions and/or product selections based solely on the information contained in this report.] As indicated, this is dated material but can be used as a generalization.

 

INTRODUCTION

The life expectancy of the home components depend on the quality of installation, the level of maintenance, weather and climate conditions, and the intensity of use. Some components may remain functional but become obsolete due to changing styles and preferences or improvements in newer products while others may have a short life expectancy due to intensive use.

The average life expectancy for some components has increased during the past 35 years because of new products and the introduction of new technologies, while the average life of others has declined. NAHB’s last such study on the life expectancy of housing components was published in Housing Economics in August 1993.

 

U.S. HOUSING STOCK

The 2005 American Housing Survey by the U.S. Census Bureau shows that there are more than 124 million homes in the housing stock, with a median age of 32 years. About one-third of the housing stock was built in 1960 or earlier. About 10 percent was built in the 1960s, and another 20 percent was built in the 1970s. Of the remainder, 13 percent was built in the 1980s, another 13 percent was built in the 1990s, and 8 percent in the first years of the 21 century.

Of the total stock of 124.3 million housing units, about 109 million are occupied housing units, 11.6 million are vacant and about 4 million are seasonal. Two-thirds of all units in the nation’s housing stock are single-family detached or attached, 8 percent are in buildings with 2 to 4 units, and about 17 percent are in buildings with 5 or more units. The remaining 7 percent of the stock is in HUD-code homes.

About 18 percent of the occupied housing stock is in the Northeast, 23 percent is in the Midwest, 37 percent is in the South, and 21 percent is in the West.

 

THE STUDY

In the summer of 2006, NAHB conducted a comprehensive telephone survey of manufacturers, trade associations and researchers to develop information about the longevity of housing components.

Many of the people interviewed emphasized that the life expectancy of housing components is greatly affected by the quality of maintenance. They also noted that changing consumer preferences can result in products being replaced long before — or after — the end of their practical life expectancy.

This article provides a synopsis of the survey results (Table 1).

 

Appliances

The life expectancy of a typical appliance depends to a great extent on the use it receives. Moreover, appliances are often replaced long before they are worn out because changes in styling, technology and consumer preferences make newer products more desirable. Of the major appliances in a home, gas ranges have the longest life expectancy: 15 years. Dryers and refrigerators last about 13 years. Some of the appliances with the shortest lifespan are: compactors (6 years), dishwashers (9 years) and microwave ovens (9 years).

 

Cabinetry and Storage

Kitchens are becoming larger and more elaborate, and together with the family room, modern kitchens now form the “great room.”  Great rooms are not only a place to cook, but also a space where people gather to read, eat, do homework, surf the Internet and pay bills. Kitchen cabinets are expected to last up to 50 years, medicine cabinets for 20+ years, and garage/laundry cabinets for 100+ years. Closet shelves are expected to last for a lifetime.

 

Concrete and Masonry

Masonry is one of the most durable components of a home. Chimneys, fireplaces, and brick veneers can last a lifetime, and brick walls have an average life expectancy of more than 100 years.

 

Countertops

Natural stone countertops, which are less expensive than a few years ago, are gaining in popularity and are expected to last a lifetime. Cultured marble countertops have a life expectancy of about 20 years.

 

Decks

Because they are subject to a wide range of conditions in different climates, the life expectancy of wooden decks can vary significantly. Under ideal conditions, they have a life expectancy of about 20 years.

 

Doors

Exterior fiberglass, steel and wood doors will last as long as the house exists, while vinyl and screen doors have a life expectancy of 20 and 40 years, respectively. Closet doors are expected to last a lifetime, and French doors have an average life of 30 to 50 years.

 

Electrical and Lighting

Copper plated wiring, copper clad aluminum, and bare copper wiring are expected to last a lifetime, whereas electrical accessories and lighting controls are expected to last 10+ years.

 

Engineered Lumber

Floor and roof trusses and laminated strand lumber are expected to last a lifetime, and engineered trim is expected to last 30 years.

 

Faucets and Fixtures

Kitchen sinks made of modified acrylic will last 50 years, while kitchen faucets will work properly for about 15 years. The average life of bathroom shower enclosures is 50 years. Showerheads last a lifetime, while shower doors will last about 20 years. Bath cabinets and toilets have an unlimited lifespan, but the components inside the toilet tank do require some maintenance. Whirlpool tubs will function properly for 20 to 50 years, depending on use.

 

Flooring

All natural wood floorings have a life expectancy of 100 years or more. Marble, slate, and granite are also expected to last for about 100 years, but can last less due to a lack of maintenance. Vinyl floors last up to 50 years, linoleum about 25 years, and carpet between 8 and 10 years (with appropriate maintenance and normal traffic).

 

Footings and Foundations

Poured as well as concrete block footings and foundations last a lifetime, assuming they were properly built. Termite proofing of foundations will last about 12 years if the chemical barriers put in place during construction are left intact. Waterproofing with bituminous coating lasts 10 years, but if it cracks it is immediately damaged. Concrete or cast iron waste pipes are expected to last 100 years or more.

 

Framing and Other Structural Systems

Framing and structural systems have extended longevities: poured-concrete systems, timber frame houses and structural insulated panels will all last a lifetime. Wall panels and roof and floor trusses will similarly last a lifetime. Softwood, hardboard, and plywood last an average of 30 years, while OSB and particleboard are expected to function properly for 60 years.

 

Garages

Garage door openers are expected to last 10 to 15 years, and light inserts for 20 years.

 

Home Technology

Home technology systems have various life expectancies. While a built-in audio system will last 20 years, security systems and heat/smoke detectors have life expectancies of 5 to 10 years. Wireless home networks and home automation systems are expected to work properly for more than 50 years.

 

Heating, Ventilation, and Air Conditioning (HVAC)

Heating, ventilation, and air conditioning systems require proper and regular maintenance in order to work efficiently, but even in the best case scenarios most components of such systems only last 15 to 25 years. Furnaces on average last 15-20 years, heat pumps 16 years, and air conditioning units 10-15 years. Tankless water heaters last more than 20 years, while an electric or gas water heater has a life expectancy of about 10 years. Thermostats usually are replaced before the end of their 35-year lifespan due to technological improvements.

 

Insulation and Infiltration Barriers

As long as they are not punctured, cut, or burned and are kept dry and away from UV rays, the cellulose, fiberglass, and foam used in insulation materials will last a lifetime. This is true whether the insulation was applied as loose fill, house wrap, or batts/rolls.

 

Jobsite Equipment

Ladders are expected to last a lifetime, and life expectancy of lifts is about 8 to 10 years.

 

Molding and Millwork

Custom millwork will last a lifetime, and all stairs – circular and spiral stairs, prebuilt stairs and attic stairs – are expected to last a lifetime.

 

Paint, Caulks and Adhesives

Both interior and exterior points can last for 15 years or longer, however home owners often paint more frequently.

 

Panels

Hardboard panels and softwood panels are expected to last 30 years, while oriented strand board and particleboard have a life expectancy of 60 years. Wall panels are expected to last a lifetime.

 

Roofing

The life of a roof depends on local weather conditions, proper building and design, material quality, and adequate maintenance. Slate, copper, and clay/concrete roofs have the longest life expectancy – over 50 years. Roofs made of asphalt shingles last for about 20 years while roofs made of fiber cement shingles have a life expectancy of about 25 years, and roofs made of wood shakes can be expected to last for about 30 years.

 

Siding and Accessories

Outside materials typically last a lifetime. Brick, vinyl, engineered wood, stone (both natural and manufactured), and fiber cement will last as long the house exists. Exterior wood shutters are

expected to last 20 years, depending on weather conditions. Gutters have a life expectancy of more than 50 years if made of copper and for 20 years if made of aluminum. Copper downspouts last 100 years or more, while aluminum ones will last 30 years.

 

Site and Landscaping

Most landscaping elements have a life expectancy of 15 to 25 years. Sprinklers and valves last about 20 years, while underground PVC piping has a lifespan of 25 years. Polyvinyl fences are designed to last a lifetime, and asphalt driveways should last between 15 and 20 years.

Tennis courts can last a lifetime if recoated; most coatings last 12 to 15 years. The concrete shell of a swimming pool is expected to last over 25 years, but the interior plaster and tile have life expectancies of about 10 to 25 years.

 

Walls, Ceilings and Finishes

Walls and ceilings last the full lifespan of the home.

 

Windows and Skylights

Aluminum windows are expected to last between 15 and 20 years while wooden windows should last upwards of 30 years.

 

Table 1: Life Expectancy of Different Products/Items/Materials in the Home

Bostedo Appraisal Services – ‘Our Pittsburgh Appraisers’ specializes in divorce appraisals, bankruptcy appraisals, date of death appraisals, estate appraisals, pre-listing appraisals, pre-purchase appraisals and more throughout the Pittsburgh and 7 County region.

For more information contact us at (412) 831-1500, visit our website at PennsylvaniaAppraisers.com, or email us by clicking ‘Contact’ at the top of our page. You can also follow us on Twitter, YouTube, or “LIKE” our Facebook page as well. Also, make sure to check out our ‘Customer Reviews & Testimonials’ page and see what others are saying about Bostedo Appraisal Services – the ‘Pittsburgh Appraisers’

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7 Costly Mistakes First-Time House Flippers Make

March 25, 2017 by Bostedo Appraisal Services - Pittsburgh Appraisers

7 Costly Mistakes First-Time House Flippers MakePerforming a recent Pittsburgh appraisal, I thought a post on realtor.com was interesting. There was a recent realtor.com article 6 Costly Mistakes First-Time House Flippers Make. This article was interesting due to many of the situations I have seen considering we do work for many flippers. One in particularly that was NOT in the article which should have been and I will go over that later with a personal story.

I will include a link to the realtor.com article below. However, in the mean time, I will just briefly cover the 6 included and the 7th NOT included.

(more…)

How Fast Will My Home Sell? – Absorption Rate

January 2, 2016 by Bostedo Appraisal Services - Pittsburgh Appraisers

Absorption RateEver wonder how an appraiser knows how long your home will take to sell? Being an expert in your market makes us at Bostedo Appraisal Services the authority — the guys and gals everyone goes to when they have a complex question about real estate.

Well, allow me to introduce you to Absorption Rate. Before your mind wanders off into numbness, let me also tell you that this is one of the most practical metrics or measurements you can learn for your market or for you as a seller. Better than that, it will only take you a few minutes to learn it. It should be pointed out, although the manufacturing segment of the economy has been using this metric for decades, real estate, for the most part still doesn’t.

OK, so what is Absorption Rate? Simply put, (more…)

Pittsburgh Housing Trends

December 8, 2015 by Bostedo Appraisal Services - Pittsburgh Appraisers

Pittsburgh 3 year housing trendOver the years Pittsburgh housing trends have been fairly steady. In fact, it has been sort of a running gag when someone asks how much their home has appreciated the ‘off the cuff’ answer was always about 3% per year. It has been like this for decades. In fact, this phenomenon was one reason that Pittsburgh survived the housing bubble due to Pittsburgh housing trends not being in a bubble.

This post and the graphic to the left depicts only (more…)

Beware! Upside Down Builders

October 27, 2015 by Bostedo Appraisal Services - Pittsburgh Appraisers

 Beware! Upside Down Builders

upside down builders

I’m sure many of us have seen them and frankly, probably never gave it a second thought, the homes that were built upside down.

Well, upside down I guess is only a matter of opinion. You can call them just about anything, even contemporary will work. However, there is one thing you can’t get away from, why is there only 1 bedroom on the 1st floor and all the rest of the bedrooms are downstairs? (more…)

What Is TRID & How Will TRID Effect YOU!

October 6, 2015 by Bostedo Appraisal Services - Pittsburgh Appraisers

D-day is upon us. TRID-day that is.

Oct. 3 marks the effective date of the Consumer Financial Protection Bureau’s Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule or TRID.

Every residential real estate transaction now requires new loan documentation consisting of (more…)

Pittsburgh Appraisers Coal Town Find!

September 15, 2015 by Bostedo Appraisal Services - Pittsburgh Appraisers

Pittsburgh Appraisers Coal Town

As a Pittsburgh appraiser who services a 7 county region, when doing a Pittsburgh appraisal you run into many different things. Pittsburgh has such a rich coal mining history, in fact, so does all of southwestern Pennsylvania and West Virginia.

Over the years from the time when I was small, I was told about a bridge that spanned two hilltops where I use to live, and men use to push coal carts across. I was also told there (more…)

Pittsburgh Values: Single Family vs. Multi-Family

September 1, 2015 by Bostedo Appraisal Services - Pittsburgh Appraisers

Over the past number of years, I had the opportunity to appraise many 2-4 family properties in the Pittsburgh and surrounding areas for pre-listing, divorce, estate and other reasons. The reasons behind the appraisals are not the story; the story is why, and how, there was such a reversal of fortunes so to speak in the overall value of both single family residential, and multi-family (2-4 unit) properties. At this spot in the blog, I must point out that this is not only an issue in Pittsburgh, but the entire southwestern Pennsylvania region. (more…)

Don’t be fooled! Style vs. Ownership.

June 29, 2015 by Bostedo Appraisal Services - Pittsburgh Appraisers

Recently a Pittsburgh, Pennsylvania homeowner asked me to do a pre listing appraisal for them because a friend who is involved in Real Estate said they may have over improved their home, and they should see where they stand by getting an appraisal.

The property was a townhome style dwelling in condominium ownership. I arrived at the home and may I say, the property was beautiful, everything in it brand new and gorgeous. I will not go into great detail about the property because it will be coming onto the market and the actual renovations completed are a mute point.

(more…)

CMA vs. Bank Appraisal

April 27, 2015 by Bostedo Appraisal Services - Pittsburgh Appraisers

Much has changed in the Real Estate Industry since the financial crisis of 2008 & 2009. In this blog however, we will only discuss what has transpired with regard to how Banks want an appraisal prepared. This blog post will only go into some brief techniques that the Banks require within appraisal reports and I will stay away from any reasoning as to why. However, it is partly because of these requirements that values in many areas are not rising as quickly as some may want or think they should.

I will start by saying that, as an appraiser, (more…)

Absorption Rate – How Fast Will My Home Sell?

March 8, 2015 by Bostedo Appraisal Services - Pittsburgh Appraisers

Ever wonder how an appraiser knows how long your home will take to sell? Being an expert in your market makes us at Bostedo Appraisal Services the authority — the guys and gals everyone goes to when they have a complex question about real estate.

Well, allow me to introduce you to Absorption Rate. Before your mind wanders off into numbness, let me also tell you that this is one of the most practical metrics or measurements you can learn (more…)

How will CU affect the real Estate Industry?

December 29, 2014 by Bostedo Appraisal Services - Pittsburgh Appraisers

First, what is “CU”? CU is the acronym for Fannie Mae’s new in-house tool for examining credit risk called ‘Collateral Underwriter’. Fannie Mae is rolling it out to Lenders and, indirectly, to their AMC partners in January 2015. Their objective is to distribute CU to support more proactive management of appraisal quality by empowering lenders to address potential appraisal issues prior to loan delivery.

Starting January 26, 2015, all lenders and lender agents will have full access to the program which includes the CU risk score along with the risk flags (more…)

Data Flaw In Regional County Assessments

December 2, 2014 by Bostedo Appraisal Services - Pittsburgh Appraisers

If you live in, or own a Split Level, or Split Entry/Bi-level style dwelling within Allegheny, Beaver, Butler, Fayette, Somerset, Washington or Westmoreland Counties, be forewarned.  Your property may be assessed at a higher value than the property should be due to a lack of uniformity. The lack of uniformity is what created the court ordered re-assessment process in Allegheny County and (more…)

How to Prepare For a Real Estate Appraisal

November 6, 2014 by Bostedo Appraisal Services - Pittsburgh Appraisers

If you are like most and haven’t had an appraisal done on your home recently, one of the first things that may come to your mind is, “What do I need to do to get ready for the appraiser?”  Here are some things you may want to consider prior to the appraiser coming to your home. (more…)

Cheap Appraisers – Should I Risk It?

November 5, 2014 by Bostedo Appraisal Services - Pittsburgh Appraisers

Well, the short answer is no. However, we will go into the subject in more detail and explain with the long answer.

If you haven’t worked with an appraiser before or it’s been a long time much has changed. You may not realize that all appraisers are NOT the same and can be as different as night and day depending on their experience, education, and familiarity with your market area. This was exasperated in the early 90’s with the advent of Appraisal Certification. (more…)

Why hire a technically advanced appraiser?

November 5, 2014 by Bostedo Appraisal Services - Pittsburgh Appraisers

We all know them. The guys with pounds of silicon hanging from their belts. Every new gadget that has hit the market in the past 10 years has done time around their waist. Call them geeks. Call them nerds. Call them what you will, but by all means, give them your appraisal business. Why? I’m glad you asked. (more…)

How To Build Home Equity FAST!

October 21, 2014 by Bostedo Appraisal Services - Pittsburgh Appraisers

One of the best ways to increase the market value of a home is to make structural improvements or add features such as a deck or an extra room. I do want to emphasize if your plan is to enlarge your home, there are some things you may want to consider in your planning. Make sure to read the (more…)

Zillow vs Certified Appraisal

September 12, 2014 by Bostedo Appraisal Services - Pittsburgh Appraisers

Zillow vs Certified Appraisal. Let us first start out by explaining what is Zillow? Zillow is what is known as an AVM an Automated Valuation Module. Locally in Pittsburgh, Allegheny County and next, the surrounding Counties, we are all too well familiar with an AVM although we don’t know it. This is the same type of computer program that has and is creating each and every properties’ assessed value and we all know how that is turning out. (more…)

Do I need a Pennsylvania Certified Appraiser?

August 10, 2014 by Bostedo Appraisal Services - Pittsburgh Appraisers

There are four kinds of appraisers in Pennsylvania

Pennsylvania Certified General — These appraisers have met their education and experience prerequisites and passed the general certification exam. They can now appraise virtually all types of property: residential, commercial, both federally related and non-federally related. Pennsylvania Certified General Appraisers work primarily on commercial appraisals which include rental units of 5 or more in a building.

Pennsylvania Certified Residential — These appraisers have also met their education and experience requirements, passed their exam and can appraise all categories of residential property, federally and non-federally related. Pennsylvania Certified Residential Appraisers work primarily on residential appraisals which include single family homes and rental units of 4 or less in a building. (more…)

PUD, Condo, Town, Row, HOA The difference is?

August 5, 2014 by Bostedo Appraisal Services - Pittsburgh Appraisers

Well, we will start with the easy part. What is the difference between a Row House and a Town House? In a word, nothing. A town house or town home and a row house or row home are the same. The names are only STYLES or DESIGNS of a type of residential dwelling. Both town and row are (more…)

Common Pittsburgh FHA Appraisal Repairs

July 15, 2014 by Bostedo Appraisal Services - Pittsburgh Appraisers

Some of the most common Pittsburgh FHA appraisal repairs many homeowners are not aware of nor that these common Pittsburgh FHA appraisal repair items will be needed to be addressed with an FHA appraisal for an FHA loan.

The FHA has three main concerns, for FHA  appraisers, they are called the three S’s. The three S’s are Safety, Soundness and Security. A property must meet these three main criteria to qualify for a FHA loan. The most common repair items (more…)

Why & Where Of Carbon Monoxide Detectors.

June 22, 2014 by Bostedo Appraisal Services - Pittsburgh Appraisers

Everyone seems to have heard of carbon monoxide, but not many people seem to know much about it other than hearing about it in a tragic accident on the news. This is a colorless and odorless gas that is produced whenever a fuel source is burned. These fuel sources can consist of many different things including natural gas, kerosene, oil, wood, charcoal and even paint thinner.

The problem is that carbon monoxide cannot be detected without the use of a monitoring device; carbon monoxide if not detected can very easily cause death. Not to mention even smaller amounts can still cause carbon monoxide poisoning, which can lead to serious health issues from lethargy and amnesia to psychosis and even Parkinson’s disease.  Considering the (more…)

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