A recent article suggests that the United States is in for a Great Appliance Replacement Boom caused by the stagnate housing market. Because so many people are forced or choosing to stay in their current, aging homes, the home systems are poised to begin wearing out soon. Appliance and home system manufacturers are well aware of the life expectancy of their products and are just chomping at the bit for it to begin. The question is, are you ready?
Planning For Home System and Appliance Replacement
If your home is less than 15 years old, there is a good chance that the appliances and home systems are as old as your home. Once these go beyond a certain point, there is no doubt that they will begin to require repair or replacement. Being able to foresee these events, will allow you to prepare for the inevitable cost that comes with owning a home.
Replacement of items such as refrigerators dishwashers, hot water heaters and laundry equipment can be evaluated and predicted as the start to show signs of age near the end of their life cycles. It is a good idea to have them evaluated periodically by a service technician. Make sure to ask if there are any regular wear issues that can proactively addressed to prolong the life of the unit. Things such as the replacement of belts and motors are relatively easy fixes if caught early and can help prevent more extensive damage.
Home systems are very similar. Heating and air conditioning systems, water heaters and even siding and roof replacement can be avoided by taking proactive maintenance measures. Remember, in the overall picture, it is less expensive to maintain these things than it is to replace them.
Put A Budget In Place
The real fact is though, all home systems and appliances will have to be replaced at some point. Budgeting for the inevitable replacements will reduce the shock and financial hardship that can come from a major home appliance or system replacement. Take time every few years to obtain a price estimate on these items so that you are able to adjust your budget accordingly. With the increase cost in the home industry over the last few years, knowing current pricing will prevent any surprises when replacement time comes.
The costs that come with owning a home are fairly predictable with a little foresight. Don’t be caught off guard by home system and appliance replacement, find the resources you need with HomeNav!