Is your house getting so old that you frequently need repairs? It would be better if we could just replace the entire house but that does incur costs and sometimes isn’t in the cards, so let me talk a little bit about options. According to industry experts, you should save at least 1% of your home’s price for repairs on an annual basis. If the repair is way too costly, you will be better off with a new one. Another thing that you should practice is taking preventive measures before something actually breaks down. Trust me, in the long run, this is going to save you significant amounts and you will be so thankful for this tip.
Here is a list of key components in your house and their replacement costs as well as the time when you should replace them. Obviously, the actual amounts do vary with the quality you opt for and the region you live in. However, for right now, the averages will do just fine because they will still give you a fairly good estimate.
Furnaces and Boilers
A furnace has an expected life between 15 and 20 years, and for a boiler, this range is between 13 and 21 years. The total cost of a forced air furnace is around $1,600 and $2,000, and for a split system, it can go up to $2,300. As for the replacement, do it when your bills start increasing, repairs become regular , the system produces a lot of noise, or does not function well enough.
Windows
The expected life of aluminum windows is up to 20 years and vinyl windows can last around 30 years or more. A single window costs around $400 on average. So when should you replace your windows? When they become fogged, the frames suffer from excessive wear and tear, and opening or closing the windows becomes difficult because they often appear to be jammed.
Roof
If you have asphalt shingles roof, it will do well for 20 years under normal circumstances. In case the roof becomes cracked or the shingles go missing, replacing is a better option instead of repairing. The same can be said if your attic starts demonstrating wet spots or you come across peeling walls or discolored plaster. The average cost incurred will be $5 to $7 for an area of one square foot.
Source: www.realestate.msn.com
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