Engineers, from one of Canada's best known engineering firms, have conducted over 50,000 home inspections and haven't found the perfect house yet.  Since perfection is not an option, what should purchasers expect in a home?

Normal maintenance

  If you strip away the cosmetics, a house is made of the structure, roof, exterior envelope and the systems of the house. The systems are things like heating, plumbing, electrical and cooling. All components and systems eventually wear out. Fortunately, they don't all wear out at the same time. Different components have different life cycles.  Houses tend to settle into what you might call a normal maintenance pattern.

The 1% Rule

  When you consider the life cycle of every component of a house, a reasonable annual estimate of the cost of normal maintenance is 1% of the value of the house.  One year you may replace the furnace; a few years down the road you may resurface the roof.  Throw in the odd unexpected repair in between and you average 1% a year. It's incredible, but this rule is not far off even for very expensive and very inexpensive houses.

What's the message here?

  A homebuyer should arrive at the home inspection with realistic expectations.  If you are buying a 12-15 year-old home, let's face it, you may need a new roof covering.  If you are buying a 60 year-old home, you may have to update some plumbing. Don't let this scare you away from a perfectly good home.

  Homeowners on the other hand should not expect to receive more money for their home because they have replaced the worn out shingles for example.  That is part of the normal maintenance of your home.  What it will do however, is help to sell your home faster and be more competitive in the marketplace.