If you own a home, do you ever wonder why it seems you have to replace something every few months, and why your checking account is always running on fumes?
That's because everything in your home from the roof to the deck to the air conditioner has a lifespan, and it is not as long as it was back in the 1960's, when things seemed to last forever.
And that's why knowing when something is getting ready to go can be very helpful, because these home ownership surprises can drain your bank account in no time at all if you don't expect it.
Appliances Fail Sooner
Hoping to get 40 years out that new front loading washing machine, the way your mom got 40 years out of her old Maytag back in the 60's and 70's? Don't count on it.
Or what about Mom's old Kenmore wall oven with two knobs, which was old when you were a kid, and still works? Today's ovens won't last like that.
Todays' high tech and energy efficient appliances just don't last as long.
They use electronic control panels, which often starts to fail around the 10 year mark. And heavy duty steel has been replaced by plastic, which wears out.
The National Association of Home Builders says you may have to replace many home items much sooner than you think.
- Refrigerator: 13 years.
- Dishwasher: 9 years.
- Microwave oven: 9 years.
- Water heater: 11 years.
- Central air conditioning: 15.
- Gas furnace: 18 (Oil burners last longer due to more heavy duty parts).
- That low-e water saving washing machine? Just 10 years.
Your appliance MAY last a lot longer, especially if it's a microwave or dishwasher you barely use. If so, great, but just be prepared.
When You Ignore it...
And from the doesn't that stink file: What happens when you ignore something in an attempt to save money.
It can cause costly damage, which will have you saying "doesn't that stink?"
So the home builders group says set aside some money once a roof hits 25 years of age, and a deck hits age 20.
In fact, it's a good idea to always have an emergency fund, because that washing machine is going to quit when you least expect it. And if you hold off on a leaky roof, you will face thousands of dollars in rotted wood repairs.
So stay up to date on that maintenance so you don't waste your money.