Marshall And Swift -typical Building Lives

[Doug Wegener]

Where do they get this info from?

Average quality frame built houses have, according to them, a life expectancy of 55 years.

In the area of Los Angeles where I grew up the houses were built in the early 1950's. They are all still standing and going strong,probably will be there for at least another 20+ years.

In South Central L.A, you can find many houses built in 1920's and 1930's still existing.

I have appraised in Oregon and the same is true there. Many old houses still standing , quite a few over a 100 years old.

Wherever they get these typical life expectancy figures from, they seem quite divorced from reality.

 

[Tom Woolford]

I believe their estimates are based on minimal maintenance and no updating. I've seen 150 year old homes that appeared brand new, and had the rehab costs to prove it. Its all about the maintenance.

 

[normando]

Older age homes were constructed better than homes today. When my 80 years old house was remodeled, I was in awe of the beautiful redwood still in great shape. These days we have pressed and particle boards which I don't know how long they will last. I wanted to have new hardwood floors match with the original parquet floors, but the labor intensity was too much so I went with the typical strip floors. I love my banana stairs which you don't see now. After my remodeling, I find few homes as nice as mine. My standard for C3 has changed.

 

[CANative]

Where do they get this info from?

Average quality frame built houses have, according to them, a life expectancy of 55 years.

In the area of Los Angeles where I grew up the houses were built in the early 1950's. They are all still standing and going strong,probably will be there for at least another 20+ years.

In South Central L.A, you can find many houses built in 1920's and 1930's still existing.

I have appraised in Oregon and the same is true there. Many old houses still standing , quite a few over a 100 years old.

Wherever they get these typical life expectancy figures from, they seem quite divorced from reality.

Economic life and physical life are not the same thing. Per M&S "Typical life expectancies of single and multifamily residences are based on case studies of both actual mortality and ages at which major reconstruction had taken place."

Maintenance and modernization will extend the remaining economic life and reduce the effective age.

 

[Terrel L. Shields]

Your key is not the AGE of the building. It is the remaining life "as is"...I had a girl friend back in the 1970s who built a new house. She got a job offer a few years later that she couldn't refuse. So she sold it. I was by the place 15 years later and it was in poor shape. Recently was by there and if it lasts another 5 years...? No maintenance since except a roof (they put metal over the shingles.) It's out in the country and the city would have been on them long ago otherwise.

 

[Doug Wegener]

Your key is not the AGE of the building. It is the remaining life "as is"...I had a girl friend back in the 1970s who built a new house. She got a job offer a few years later that she couldn't refuse. So she sold it. I was by the place 15 years later and it was in poor shape. Recently was by there and if it lasts another 5 years...? No maintenance since except a roof (they put metal over the shingles.) It's out in the country and the city would have been on them long ago otherwise.

As I said, the neighborhood where I grew up and the adjacent neighborhoods contain thousands of home built in 1950's ,part of the post war housing boom and they are all still standing, most 60-65 years old now.

I think Marshall and Swift estimate of 55 years is low.

 

[Tom D]

i think it's lower for public housing. they don't even try to rehab them. tear them down, and build something new. our government at it's finest stewardship of our money.

 

[Gobears81]

As I said, the neighborhood where I grew up and the adjacent neighborhoods contain thousands of home built in 1950's ,part of the post war housing boom and they are all still standing, most 60-65 years old now.

I think Marshall and Swift estimate of 55 years is low.

It seems low because...

Economic life and physical life are not the same thing. Per M&S "Typical life expectancies of single and multifamily residences are based on case studies of both actual mortality and ages at which major reconstruction had taken place."

Maintenance and modernization will extend the remaining economic life and reduce the effective age.

 

[BRCJR]

M&S is based upon case studies. Is it absolute in accuracy? Of course not.
Is it widely accepted as producing, if properly completed, a credible cost approach? Yes, in my opinion.

 

[CANative]

As I said, the neighborhood where I grew up and the adjacent neighborhoods contain thousands of home built in 1950's ,part of the post war housing boom and they are all still standing, most 60-65 years old now.

I think Marshall and Swift estimate of 55 years is low.

The people who live in those neighborhoods like those houses just fine the way they are as long as they've been maintained and repaired as the years go by. They don't need new houses. The economic life is a function of quality and starts when new. M&S uses case studies to get a baseline. Your 1950's houses can still be remodeled to almost "like new" and when done the remaining economic life clock is reset some what.