Royal Lepage

Lakes of Muskoka Brokerage, Independently Owned & Operated

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Sit back and relax, we have you covered!

Know what to expect before you buy a home!

When buying a home, it is important to learn as much about the homes you are viewing , especially ones you really like. This way, you can know expectations up front when you decide to move forward with buying a particular home.

Knowing the age of home components can help youwithbudgeting for future updates and repairs . The following is a list of life expectancy of certain home components.Keep in mind that these figures are merely averages. If the seller of a particular property does not know how old a certain items is, a home inspector may be able to tell you.

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LIFE EXPECTANCY OF HOME COMPONENTS

Appliances -

Gas Range - 15 yrs

Dryers/refrigerators-13 yrs

Dishwashers and Microwaves - 9 yrs

Compactors - 6 yrs

Countertops -

Natural Stone - lifetime

Cultured Marble - 20 years

Decks -

20 years, depending on climate

Doors -

Exterior fiberglass, steel and wood - will last as long as house stands

Vinyl doors - 20 years

Screen Doors - 40 years

French Doors - 30-50 years

Faucets and Fixtures -

Kitchen sinks - 50 years

Faucets - 15 years

Shower Doors - 20 years

Showerheads/toilets - lifetime

Flooring -

Wood, marble, slate and granite - 100 years

Vinyl Flooring - 50 years

Linoleum - 25 years

Carpet - 8-10 years

Garage Doors - 10-15 years

Home Technology -

Security Systems- 5-10 years

Heat and Smoke detectors- 5-10 years

Heating, Venting, and AC -

HVAC Systems- 15-20 years

Tankless water heaters - 20 years

Electric or gas water heaters - 10 years

Roofing -

Slate, Copper and clay/concrete - 50 years

Asphalt-shingle - 20 years

Fiber-cement shingles- 25 years

Wood shakes- 30 years

Siding and Accessories -

Brick, wood, stone, and fiber cement- last as long as the home

Exterior Wood shutters - 20 years

Copper Gutters- 50 years

Aluminum Gutters- 20 years

Copper downspouts- 100 years

Aluminum downspouts- 30 years

Windows -

Aluminum - 15-20 years

Wooden- up to 30 years

Source= Study by National Association of Home Builders . Life expectancies listed above are general guidelines only. They should not be interpreted as a representation, warranty or guarantee regarding the life expectancy or performance of any individual product or product line.

Posted in Real Estate Post Date 02/20/2016


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Appraisal Overview

There are three approaches to value that we can consider – Income, Cost and Direct Sales Comparison. Depending on your property, we will gladly explain which approaches apply and can aid us in determining the market value, if that is the value that is sought after. There are many kinds of value that can be required, but, by far, market value is the most commonly required. This requires an in depth and firsthand knowledge of the local market place.

Common Myths

MYTH: An appraisal is the same as a Realtors Opinion of Value.

FALSE. An appraisal is an in depth view of the property with features and factors being compared to other properties with similar features and factors. The sales considered have to meet the definition of market value as laid out in CUSPAP. Appraisals signed by designated members have usefulness for financing and estate planning and settlement, whereas opinions of value typically do not.

Frequently Asked Questions

What is the cost of an appraisal?

That will depend on the purpose of the appraisal and the location of the property. How long will it take to complete the appraisal once an inspection takes place. Again, depending on the purpose of the appraisal, a typical re-financing assignment will be completed for the lender within 3 days. Referrals – our Clients have included Financial Institutions, Law Offices, The Federal Government, Private Lenders, Personal Property Owners, to mention a few.

 

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