Healthy home maintenance — is your home healthy?

5 home items you may have not thought about but should check up on ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [Better] [Better]( This week's mortgage rates [Rate chart] [Rate chart]( Source: US average mortgage rates from [FreddieMac]( --------------------------------------------------------------- Better Mortgage Interested in today's rates? [See Better Mortgage rates]( --------------------------------------------------------------- #FundFact 👷 Last year, homeowners spent an average of $6,000 on home maintenance and repairs.¹ Things to know Healthy home maintenance — is your home healthy? Healthy home maintenance — is your home healthy? As we move into autumn and begin to ramp up for the winter, we’re bombarded with messaging on maintaining our health and boosting our immunity. It’s a nice reminder that these upcoming seasons are also a good time to consider your home's health. The National Center for Healthy Housing defines a healthy home as one that is constructed, maintained, and rehabilitated in a manner that is conducive to good health.² There are multiple items that you should check up on your home on a weekly, monthly, and annual basis. This week, we’ve put together a list of 5 items that may not be top of mind, but might be worth thinking about: - Household appliances — Average lifespan: 9-15 years³ Upgrading household appliances can be looked at as a long-term investment because of the savings they can afford you in the long run. In 1992, the US Environmental Protection Agency launched Energy Star to promote products designed to use less energy and reduce recurring costs for consumers. Since launching, Energy Star and its partners have [helped save the typical household about $450 on their energy bills each year](. Saving on energy costs is more important than ever, with the average electricity bill increasing 13% from 2021 to 2022.⁴ - Windows — Average lifespan: 15-30 years⁵ It’s a good time to start thinking about replacing windows at the 20-year mark for the average home.⁵ Aside from the enhanced curb appeal, installing Energy Star-certified windows can improve your home’s energy efficiency and maximize energy savings. Windows manufactured with low-e coatings typically cost about 10% to 15% more than regular windows, but they reduce energy loss by as much as 30% to 50%.⁶ Plus, if you replace your windows before selling your home, you can expect to recoup about 70 percent of your investment in increased home value.⁵ - Electrical wiring — Average lifespan: Varies based on home age Half of the homes built before 1973 don’t have updated electrical wiring,⁷ and around 35% of owner-occupied homes in the US were built before 1970.⁸ If your home is more than 40 years old, you should have a licensed electrician inspect it to make sure the wiring in your home is safe. On average, homeowners spend $7,000⁹ to rewire their home. Depending on the size of your home, you can spend as little as $1,100⁹ or as much as $13,000⁹ and the investment can help you prevent an unnecessary disaster. According to the most recent Home Electrical Fires Report published by the National Fire Protection Agency (NFPA), electrical failures or malfunctions were the second leading cause of electrical home fires from 2015 to 2019.⁷ - Smoke and carbon monoxide alarms — Average lifespan: 10 years¹⁰ Smoke and carbon monoxide alarms can save lives; if they’re present and functional. The NFPA published its most recent Smoke Alarms in US Home Fire Report in 2021 — findings from this report show that risk of fatality in reported home fires is 55% lower in homes with working smoke alarms than in homes with no alarms or none that worked.¹¹ It also found that 41% of properties had no smoke alarm and 16% of properties had smoke alarms that failed to operate.¹¹ The NFPA recommends that homeowners test their smoke alarms monthly and replace them every 10 years. - Roofing — Average lifespan: 15-20 years¹² Your roof is one of the most important components of your home so it’s important to be aware of the age of your existing roof. Asphalt shingles are the most common types of roofing. In fact, they’re installed on over 70 percent of all homes in the US.¹³ If you have another type of roofing, the lifespan may vary. Regardless of the age of your roofing, it’s generally recommended to get your roofing inspected annually and make routine repairs to avoid running into bigger issues later down the line. An average of 2.3 million single-family, detached homes per year will require a roof replacement over the next decade.¹⁴ Luckily for these homeowners, the National Association of Realtors’ 2022 Remodeling Impact Report found that among exterior home projects, new roofing recovered 100% of the project costs.¹⁵ --------------------------------------------------------------- Better Mortgage Tap your home equity with a HELOC to help boost your home health [Apply today]( --------------------------------------------------------------- Press play Follow us on social to stay up to date with the latest mortgage tech, tips, and tools: Watch on [TikTok]( • [Instagram]( • [YouTube]( • [Facebook]( --------------------------------------------------------------- Better Mortgage Questions? Connect with a mortgage expert now [Apply today]( --------------------------------------------------------------- Quiz What is the highest form of mortgage pre-approval? - Pre-qualification - Pre-approval - Verified approval - Conditional approval [Better] [Better] [social]( [social]( [social]( [social]( [social]( ¹ Source: [CNBC]( ² Source: [HUD.gov]( ³ Source: [Statista]( ⁴ Source: [EIA.gov]( ⁵ Source: [Quality Window & Door]( ⁶ Source: [Energy.gov]( ⁷ Source: [Nationwide]( ⁸ Source: [National Association of Home Builders]( ⁹ Source: [Forbes]( ¹⁰ Source: [National Fire Protection Association]( ¹¹ Source: [National Fire Protection Association]( ¹² Source: [Today’s Homeowner]( ¹³ Source: [Classic Roof Replacement]( ¹⁴ Source: [Energy.gov]( ¹⁵ Source: [National Association of Realtors]( © 2023 Better Home & Finance Holding Company and/or its affiliates. Better is a family of companies. 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