
We can easily look up when a house was built... but that only tells us the actual age.
What about the effective age?
By that, I mean... the how old it feels based on its condition, updates (or not), and the status of the major systems.
For example...
A 29 year old house with an original roof, original HVAC system, and all original flooring and fixtures is very different from...
A 29 year old house with a two year old roof, two year old HVAC system, updated bathrooms, refreshed kitchen, new flooring, and fresh paint.
These two homes have the same actual age, but very different effective ages.
Here are a few more examples:
A 15 year old home with worn carpet and deferred maintenance can feel older than it is.
A 40 year old home with new windows, updated systems, and a renovated kitchen can feel much newer than many 20 year old homes.
So, if you are buying a home... when deciding what to offer, let's think beyond the year the house was built... and also consider the age of the roof and HVAC system and any major updates that have been completed or will be needed soon.
And, if you are getting ready to sell your home... we should consider the effective age of your home. If you have replaced major systems and updated the interior, your home may compete better than we might otherwise expect with newer properties. If many elements of your home are original, the pricing should reflect that reality.
Two homes can be the same age on paper but feel very different in person.