When shopping for a condo that's around 15 - 20 years old, what items typically should have already been replaced or would be need to be replaced in the near future?
Estimates of typical cost and lifespan for specific items would be especially appreciated!
2007-03-20 12:59:05 · 8 answers · asked by Michael 2 in Business & Finance ➔ Renting & Real Estate
I am particularly concerned about high cost items such as ac / heat pump, water heater, etc. and things such as roof and siding that I think would be covered under an increasingly more expensive condo fee.
2007-03-21 14:19:10 · update #1
Most appliances are at the end of their useful life. Appliances average 8-10 years. If maintenance has been handled properly, maybe longer. But you didn't ask about any external items. Condo's will need roof replacement, maybe exterior painting or remodeling. Those costs would be based on the area and the demand for the services. There is no way to estimate those costs. You should ask for the financial information on any condo or townhouse complex you may be interested in purchasing. The reserves should contain enough monies to handle all repairs and/or maintenance for the year, and some for emergencies. If you're using a Realtor, they would have given you this information. If you aren't I strongly urge you to have a Realtor represent you in such a transaction.
2007-03-20 13:06:25 · answer #1 · answered by Anonymous · 0⤊ 0⤋
usually with that time frame..the appliances would need to be replaced as well as plumbing fixtures....also an older model hot water heater, with the advancement in technology, the newer models are much more energy efficient and also in some states they give you a discount on your taxes for making your home more energy efficient. Also, if there is carpet in the condo...after 15-20 years...you probably want to replace that anyway! Appliances run all across the board..a good refrigerator side by side can range anywhere from $800-$1200 and then of course there are more high end refrigerators...Ranges can range anywhere from $300 for the older coil top range to $600/$1000 and up for a flat top/glass top range depending on features and I would suggest instead of a regular hood range, buy a microwave hood range combo..saves counter top space because the microwave is now above the range and you can find those as low as $200 I have Whirlpool appliances all stainless and my microwave rangehood was under $400. Dishwashers can range between $150 for a basic basic model to upwards of $1000 for the ultra quiet (you cant tell it is running) high end dishwasher. I would probably check at your local hardware store like Home Depot or Lowes and stay with a really reputable brand like Whirlpool (Good across the board) or you can go with specific brands that are better for each individual appliance, but for resale you should really stay with one brand and one color appliance.
2007-03-20 21:56:32 · answer #2 · answered by gatorgrad99_99 3 · 0⤊ 0⤋
Depending on the quality of original appliances and fixtures, nothing may need replacing yet. Many apartments and condos still have appliances from the 70s! Stoves, garbage disposals, ovens, sinks, cabinets, and counters may look outdated, but they may still function very well. So you shouldn't expect anything to be replaced, but you may want to do a little upgrading if appliances look like they could have been your grandmother's.
Usually in a condo you aren't responsible for outside walls, the roof, or anything else outside your four walls. So thankfully those things will be taken care of by the HOA.
2007-03-20 21:00:41 · answer #3 · answered by lizzgeorge 4 · 0⤊ 0⤋
A home inspector is your answer. He will specifically answer all your questions and also give you quotes on the cost of repairs. You with this in hand can check out prices for the items that have to be replaced. Also scratch and dent appliances for against wall installation where the area is effected will save you a lot of money.
I hope this helps.
2007-03-27 18:10:07 · answer #4 · answered by BELLE3 2 · 0⤊ 0⤋
If you haven't had any of your concerns updated/replaced, you should definitely consider it. However, if you are interested in selling, then you should not only consider placing the ac, water heater, etc. but upgrades to carpet and kitchen. Recent surveys has indicated that the kitchen is a major factor in selling your home. Depending on taste, a remodeled kitchen can cost up to $15k.
2007-03-27 09:53:52 · answer #5 · answered by Honeyluv 4 · 0⤊ 0⤋
Water heater..1500.
Heat pump/air..6000 plus..
Heating and air would be my biggest concerns!
2007-03-27 20:20:07 · answer #6 · answered by Anonymous · 0⤊ 0⤋
i would replace most appliances, like fridges and freezers and washing applainces. try kenmore things, thats what i have!
2007-03-20 20:16:01 · answer #7 · answered by wazzup catsup? 2 · 0⤊ 0⤋
Nothing is typical, get an inspection...
2007-03-26 19:11:37 · answer #8 · answered by Mark P. 5 · 0⤊ 0⤋