When investing in real estate, we usually focus on the price, location, square footage, or finishes. However, there is one factor that is often overlooked and can make a big difference in your investment: the useful life of a property.

What does “useful life” mean?

The useful life of a property refers to the period during which a building, house, or apartment can be used safely, functionally, and efficiently before requiring major renovations or, in some cases, complete reconstruction.

This concept is key because a property does not remain in the same condition forever: materials, structure, and installations all go through a wear cycle that will eventually affect both its value and the quality of life of its residents.

Factors that influence useful life

• Quality of construction and materials: buildings with solid finishes and durable materials tend to withstand the passage of time better.
• Preventive maintenance: a well-maintained property can extend its useful life by several decades.
• Environmental conditions: climate, humidity, or pollution can accelerate deterioration.
• Use of the property: for example, an office building usually experiences greater wear and tear than a family home due to higher usage intensity.

Estimated useful life

Although it depends on many factors, in general terms:

• Concrete or steel structure: between 50 and 80 years with proper maintenance.
• Plumbing and electrical systems: require renovation every 20 to 30 years.
• Finishes and coatings: usually need maintenance or replacement every 10 to 15 years.

Why is it important to know this before buying?

1. Resale value: a property with more remaining useful life will hold higher market value.
2. Maintenance costs: anticipating major repairs helps you plan your budget.
3. Safety: living in a structurally sound property is essential for your peace of mind.

At Camacho Bienes Raíces, we recommend that before investing in a property, you evaluate not only the location and price but also its useful life. This detail can save you unexpected expenses and ensure that your purchase is truly a smart investment.