A recent study conducted by the National Association of Home Builders (NAHB) found that homes constructed within the past decade are significantly less expensive to maintain than properties that were built a generation ago. On average, the combined annual maintenance and utility costs of a home that was built in or after 2008 is roughly $241, while the same yearly price to live in a home built before 1960 is $564 a year. There is also a noticeable variance in the average operating costs of houses built during these two periods - properties constructed more recently only have operating costs of roughly 3 percent while those built before 1960 averaged 5 percent.
A large factor is the kind of plumbing, wiring and overall utility setup of a given property. Over the past several decades, streamlined construction methods and an overall "greener" sensibility among shoppers have led to the development of more energy conservative appliances and layouts that cut monthly power and plumbing costs.
For example, the federal government offers homeowners a tax credit when they replace older appliances with Energy Star-approved ones. The results are savings in both the short term, with the immediate rebate most suppliers offer, and long term when monthly utility savings are taken into consideration.
Even manufacturers must meet higher efficiency standards today than in the 1960s whether or not they are looking for an Energy Star certification.
If you live in an older home, you can still take steps to improve your house's wiring and plumbing to make home ownership more affordable. By contacting John C. Flood, an experienced Fairfax, Virginia plumbing and electrical service, you can set up an appointment with one of our contractors to evaluate what upgrades you can make to your property.