When you’re comparing home costs, you think about the mortgage, the utilities, perhaps even renovating things. Odds are, you don’t think about the true costs of being a homeowner. Before you make an offer on a home you really can’t afford, review the hidden costs of homeownership.
Roof replacement
Asphalt roofs cost around $10,000 to replace, though these can go higher in some markets. Roofs usually last 20 to 30 years, provided they were installed correctly. Metal roofs cost three times that amount, but should last three times as long.
Deck
A deck lasts up to twenty years on average, provided it’s cared for. If an old deck needs to be rebuilt, expect to pay up to $2,500, depending on the extent of the damage.
Flooring
Wall-to-wall carpeting might last a decade, whereas hardwood floors will last a century. Flooring costs vary widely by materials, which means you can expect to pay anywhere from $100 to $1,000 to get floors repaired or replaced in a given room.
Central air conditioner
Central air conditioners should be replaced after 15 years, and the good news is replacing an old central AC means cheaper utility bills from a more efficient unit. Budget around $5,000 to $7,000 to replace your central AC.
Refrigerator
As far as home projects go, this is a more affordable one. For a new fridge, expect to pay $500 to $1,000. Refrigerators last 13 years on average.
Furnace
Furnaces generally last 18-20 years, with gas furnaces conking out sooner. Expect to spend $1,000 to $2,000 to replace your furnace, depending on the unit size and type.
Stove
Stoves vary widely in cost, from $200 to $3,000, depending on the size and model. Stove conversions – from electric to gas, for instance – increase the cost of the job.
Washer and dryer
A washer lasts around 10 years, while a dryer may last 13 years. Replacing these as a set, you’re looking at around $1500. If you know your washer and dryer will need replacement soon, try to buy on a holiday weekend, when stores are likely to discount large appliances.
If you decide to take the plunge, get the most value for every home improvement project by buying the best you can afford and working with licensed professionals. Brandstetter’s KangaRoof offers comprehensive roofing services. To get a roofing estimate, contact us today.
