You have saved for a down payment. You have qualified for a mortgage. But can you really afford that house you want to buy?

Like everything else, the appliances and systems that keep your home running have a certain life span. When you’re considering the cost of buying a home, you need to plan for the unexpected. What if the heater conks out in January? What if the washer stops washing? What if the roof springs a leak? Will you have the money to cover the repair or replacement costs?

It’s impossible to predict when looking at a house whether a refrigerator that is cooling just fine today will be cooling as well once you own it. However, the folks at Freddie Mac have developed a consumer home inspection kit to help you gauge what you might lie ahead. Their Schedule of Normal Life shows how long typical house components are likely to last.

If you’re lucky, the house you want to buy might be stocked with appliances that just seem to keep going and going -- even if you would like an excuse to retire that avocado green energy-user in the kitchen. When it comes to appliances, refrigerators and stoves have the most staying power. Freddie Mac estimates they will last for 15 to 20 years. Washers, dryers and water heaters average 8 to 12 years. In the case of dishwashers and disposals, you might be looking for a replacement in 5 to 12 years.

Freddie Mac finds that most components of a home’s heating, air conditioning and plumbing systems last around 8 to 12 years. Roofing, gutters and downspouts clock in at about 15 to 20 years.

For buyers concerned that a home’s systems and appliances are living on borrowed time, a limited home warranty is an option to consider when looking at existing homes. These plans sound somewhat like insurance policies but they're actually service contracts. With a typical plan, if something breaks down during the first year you own the house, you pay a small service call fee, and if covered the troublesome unit is repaired or replaced. Some sellers buy these warranties to give their properties an edge in the market.

Existing home service contracts can help with such matters as a broken hot water heater or a clothes washer that goes boom. However, they do not protect against structural problems -- if you have a foundation crack that will be outside the scope of a typical existing home warranty.

For new home buyers, the situation is different: New homes usually come with a 10-year warranty that provides protection against workmanship and materials problems in the first year, systems problems such as wiring and plumbing in the first two years, and structural protection during the program's 10-year term. In addition, new home systems and appliances have separate warranties from manufacturers.

Consumer advocates argue that warranty policies have numerous exemptions and provide less coverage than buyers might expect. Homeowners for Better Building, as one example, provides a detailed look at new home warranties.

Even if everything is in perfect working order, you still have to pay those utility bills to keep the energy flowing. Freddie Mac advises buyers get an estimate of monthly costs for each system from the present owner or the local utility company -- gas, electric, and water. The Freddie Mac web site provides a chart to help you organize the data and estimate your overall costs.

If the home you’re considering is a bit of a fixer-upper, Freddie Mac also has compiled a list of typical costs for remodeling and repairs. For instance, if you would like to remodel a bathroom, plan to spend $7,000 to $12,000. Kitchen remodeling jobs start at around $8,000 and go up from there. Does the carpeting need replaced? Freddie Mac suggests you budget $3.38 to $6.61 per square foot.

Weighing all of these factors can give you a much more realistic idea of the costs associated with owning a particular home. You may not get the answer you want, but it beats unpleasant surprises down the road.

Carol Ochs is a Washington-based reporter who covers new home trends.

Published: May 1, 2001

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