April 20, 2006
What It Costs To Maintain A Home
What It Costs
Housing economist Robert Sheehan calculated major repair and replacement costs on an upscale hypothetical brick house over 30 years. The analysis assumed the home was priced at $38,300 new in 1968 and is worth $250,200 today. Mr. Sheehan used standard industry sources to estimate the lifespan of various components as well as the cost of labor and materials.
Total Out-of-Pocket Costs
Bathroom update: $ 26,194
Kitchen update (minor): 7,743
Kitchen update (major): 29, 767
Exterior paint (trim only, three times): 911
Interior paint (four times) 9,161
Carpet replacement (three times): 10,201
Furnace/air conditioning: 3, 088
Water heater: 642
Roofing: 2,082
Insulation: 68
Window replacement: 9,796
Door replacement and garage-door openers: 1,861
Deck addition and replacement: 18,905
New light fixtures: 191
Six ceiling fans: 1,323
Smoke detector: 105
Washer replacement: 466
Dryer replacement: 348
Finish basement and one update: 17,934
Total: $140,786
