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.
| Appliance |
Life Expectancy (years) |
| Air Conditioners (room) |
10 |
| Air Conditioners (central) |
15 |
| Boilers (electric) |
13 |
| Boilers (gas) |
21 |
| Compactors |
6 |
| Dehumidifiers |
8 |
| Dishwashers |
9 |
| Dryers (electric and gas) |
13 |
| Freezers |
11 |
| Furnaces (electric warm air) |
15 |
| Furnaces (gas warm air) |
18 |
| Furnaces (oil warm air) |
20 |
| Garbage Disposers |
12 |
| Humidifiers |
8 |
| Microwave Ovens |
9 |
| Range/Oven Hoods |
14 |
| Ranges (electric) |
13 |
| Ranges (gas) |
15 |
| Refrigerators |
13 |
| Refrigerators (compact) |
9 |
| Thermostats |
35 |
| Washing Machines |
10 |
| Water Heaters (electric) |
11 |
| Water Heaters (gas) |
10 |
Many people are wondering where their money will be safest during these uncertain economic times. Investing in your home still pays off.
NATIONAL ASSOCIATION OF REALTORS® statistics show that home prices have fallen by an average of 7 percent nationally in the past year. But the value of home owners’ investment in remodeling projects has declined only 3.86 percent on average between 2007 and 2008, according to Remodeling’s 2008–2009 Cost vs. Value Report.
Remodeling produces the Cost vs. Value Report each year in cooperation with REALTOR® magazine. REALTORS® responding to a survey in midsummer said home owners could expect to recoup a national average of 67.3 percent of their investment in 30 different home improvement projects. At the height of the housing boom in 2005, home owners could expect to recoup a national average of 86.7 percent on projects.
For more specific information on how much you can recoup on select home improvement projects. Please click here.
As we settle into winter everyone we know is thinking about their heating bill. We gave tips about winterizing a home in Cincinnati in a previous post, and hope everyone took that advice. If you are still interested in energy savings you could get a home energy audit from a company like Energyque in Cincinnati 513-319-7382.
Energyque spends one to two hours doing a thermal scan of your home and can provide you with some in depth knowledge about how you can improve your home’s energy efficiency. Making certain can save significant amounts of money over the long term. Their pricing starts at $95 for homes up to 1,500 square feet, $145 for home up to 3,000 square feet, and $195 for home up to 4,500.
A recent New York Times Article discusses the fact that some granite counter tops have been found to emit radon gas. The article was prompted by an incident that occurred in New Jersey where a family’s summer home was found to have high levels of radon gas in a routine home inspection. Radon Gas is the second most frequent cause of lung cancer, after cigarette smoking, and radon-induced lung cancer is thought to be the 6th leading cause of cancer death overall.
Allegations that granite countertops may emit dangerous levels of radon and radiation have been raised periodically over the past decade, mostly by makers and distributors of competing countertop materials. The Marble Institute of America has said such claims are “ludicrous” because although granite is known to contain uranium and other radioactive materials like thorium and potassium, the amounts in countertops are not enough to pose a health threat.
The Environmental Protection Agency has received many calls from concerned homeowners and radon inspectors looking for guidance on this issue. The end result is that there are over 900 different types of granite available in the United States from around the world. While it is still unknown what levels of radon exposure cause cancer, the EPA standard since 20034 pCi/L in indoor air.
As foreclosed property sales continue to increase in Hamilton County there is one piece of advice that we
have to give. Get new locks! We recommend this to all of our buyers but stress it even further with foreclosed and bank owned property.
When so many people have access to the home keys over the course of the numerous transaction it is important for the new home owner’s security. Moreover, some institutions have been known to key all of their properties the same to simplify their property manager’s job. One key – many homes.
So if you are planning on buying a bank owned or foreclosed house use some of the money you save buy new locks. We have done business in Cincinnati with Larry’s Lock and Acme Lock.
Experienced home inspector Wayne Jones provides the following information so that you can properly care for your foundation in the upcoming summer months.
It’s not too early to create a support plan for your house foundation. Remember how dry it was last summer? Foundations and footers cracked and failed because of dry clay soil conditions. Watering your basement foundation (keeping the soil damp) is a good way to help reduce foundation/footer movement during dry conditions. Foundations with shallow footers, such as garages and crawl spaces can settle and crack first. Placing a soaker hose about a foot or so away from the foundation and letting the water trickle for several hours helps keep the soil damp. Remember, if you wait too long, it may take almost a day of watering for the moisture to reach down deep to the basement wall footer. Be aware that normal foundation wall cracks can seep or leak if the water is applied too fast or too close to the walls.
