How Long Will an Appliance Last?

In real estate it is important to understand the life span of major household appliances. Did you know that your thermostat will last twice as long as your furnace? Did you realize that a tank-less hot water heater will last twice as long as a traditional water heater?

The report was published by the  National Association of Home Builders/Bank of America Home Equity Study of Life Expectancy of Home Components. As a baseline it is important to understand the age of major appliances (and when they are expected to give out) when you purchase a home.  To protect yourself against premature appliance failure i always recommend that my buyers take out a home warranty. For the price of an annual premium, and a reasonable deductible, the homeowner can get protection from mechanical failures that would otherwise cost thousands of dollars to replace.

Keep in mind that the life expectancy listed are  just a general guideline—depending on the model and brand of appliances you buy and how well you treat them, your gear might last longer or might need replacing even sooner. Thanks to Consumer Reports for the chart.