This is the house my Moms bought in 1974. If she died here in 2023, she had never owned, nor lived in, any house for this length of time, and from her wedding day forward to 1974, she had lived in five homes over 26 years. On average, she lived in a house for just over five years. So she never really had a long term idea of "repair and replacement". Once I'd been established here for nine years, I began arranging to "catch up" on maintenance or replacement. I paid half of these expenses, for instance a new air-conditioner in 2009, new dishwasher and refrigerator, new furnace and water-heater.
Moms had put in the current wool (wall-to-wall) carpet probably before 1990. We shampoo it periodically. Some parts have been affected by sunlight -- with slight change of color or fading. But there are no threadbare spots, and no holes.
I'm just living here in my sunset years. I've replaced most of the windows with double-pane-argon-filled, and renewed kitchen and bathtub fixtures. I see no reason to replace the wool carpet.
If I feel flush enough to schedule a fish-and-duck soiree for the entire neighborhood, I might hope to have replaced half the carpet. But -- no fish-and-duck soiree.