Most people think of buildings as permanent structures, and who can blame them? There might be buildings one or even two hundred years old in your city—sometimes much older.
Think Ahead
But buildings, like everything, degrade over time. That’s why they have to be maintained and occasionally renovated. Don’t wait for something to go wrong before you invest in your building. It makes better sense to get ahead of the problems a home, warehouse, or office space can experience.
How long will a Building Live?
The lifespan of each building is different, because of the very complex nature of its construction, purpose, use and environment. But the life of a building can be broken down into several phases:
Under 1 Year
This is the very start. Everything is fresh and new. There are many facets and appliances that have various warranties. Maintenance is generally focused on cleaning and occasional inspections.
1 to 18 Years
The owners have full responsibility for maintenance, repairs and renovations of the building. The owners should have a maintenance program in place with a rainy-day fund for major repairs.
18 to 30 Years
This phase will usually see the first instances of high-cost maintenance and renewal projects. At this stage, owners may have to reevaluate the projected costs of future renovations.
30 to 50
The biggest and most costly renewal projects have a tendency to arise during this stage in a building’s life. So a lot of money is required to keep the building working and functional.
50 and Older
At this time, all structures will have undergone at least one renovation or replacement. So, essentially, the owners just go back to the second stage. The cycle continues from there, repeating in this mode until the owners sell the property and/or it is demolished.
Want to know more about maintaining a building? Give MaintenX a call!
