Part of financial planning is having a good sense of how much it will cost to replace your possessions when they break down or wear out. But many of the big-ticket consumer products may cost more to replace and wear out sooner than you think.

An essential part of financial planning is to budget replacing some of these items each year. To help you do this, here are some common big-ticket items, how long they tend to last, and how much it may cost to replace them.

Home Appliances

Lifespan

Price

Window air conditioner

5-7 years

$250

Dehumidifier (basement)

8 years

$300

Dishwasher

9 years

$750

Sink waste disposal

12 years

$200

Clothes dryer

13 years

$800

Washing machine

5-15 years

$800

Refrigerator

9-13 years

$500+

Microwave oven

9 years

$150

Oven

15-17 years

$500

Home Features

Lifespan

Price

Central air conditioning

7-15 years

$5,000

Boiler

40 years

$4,000

Furnace

15-20 years

$4,250

Garage doors

20-25 years

$1,000

Wood decks

10-30 years

$7,000

Composite decks

8-25 years

$7,000

Asphalt driveway

15-20 years

$4,500

Water Heater

6-12 years

$1,000

Source: Home product lifespan estimates come from the International Association of Certified Home Inspectors. Midrange price estimates come from various sources including Consumerreports.org, Angieslist.com and HomeAdvisor.com, and do not include installation costs. Actual costs may vary.

Electronics

Lifespan

Price

Flat panel television

7.4 years

$250

Desktop computer

5.9 years

$650

Video game console

5.7 years

$250

Laptop computer

5.5 years

$700

Tablet computer

5.1 years

$500

Smartphone

4.6 years

$550

Source: Electronics lifespan estimates come from a 2014 Consumer Electronics Association survey of consumer habits. Midrange price estimates come from market research firms IHS and NPD Group, and online retailer research. Actual costs may vary.

Remember, each of the items noted above can vary greatly in price depending on your tastes and willingness to spend more. For instance, a high-end refrigerator can cost well over $7,000, vastly more expensive than the $500 noted above.

Smart budgeting idea

When creating an annual budget, review your appliances and note how old they are. Then develop a five-year plan to replace some items each year. Use the values noted above, or estimate your own costs with a little research.

This process can help reduce the risk of an unplanned expense if one of these costly appliances or electronics fails when you least expect it.