When you buy foreclosure or bank-owned properties, you buy it 'As-Is' conditions. There are times when we previewed properties we saw that there is practically nothing in the kitchen: it's a blank slate! Oh, how about a house with no flooring. Seriously, we've seen those, too.
So, knowing how much it's going to cost you to replace the appliances and average useful life helps to place priorities on your budget on which one that have longer vs short useful life, style, etc. And you can use this as a starting point to compare whether it's spending thousands of dollar in cash buying a cheap foreclosure vs. buying a house that's already move-in condition. According to REALTOR , the true longevity of any household material depends on maintenance, use, quality of installation, and climate conditions (based on NAHB report on life expectancy of home components).
Some of the things house related with their average useful life, via REALTOR.
Brick siding: Lifetime of the home
All wooden floors: Lifetime of the home
Up to 50 YEARS
Kitchen Cabinets: Up to 50 years
Modified acrylic kitchen sinks: 50 years
Vinyl floors: 50 years
Thermostat: 35 years
Wooden windows: 30 years
French interior doors: 30-50 years
Aluminum windows: 15-20 years
Asphalt shingle roofs: 20 years
Faucets, kitchen sinks: 15 years
Gas ranges: 15 years
Cultured marble countertops: 20 years
Dryers and refrigerators: 13 years
Air conditioning units: 10-15 years
Lighting controls: 10+ years
Interior and exterior pains: 15+ years
Electric or gas water heaters: 10 years
Air conditioners: 10-15 years
Furnaces: 15-20 years
Security systems: 5-10 years
Heat and smoke detector: 5-10 years
Dishwashers: 9 years
Microwave ovens: 9 years
Carpet: 8-10 years
Read full report here.