This research work presents an overview of the existing literature about service life. Initial approach to the service life prediction methods has been described, based on a study which analysed degradation of facade claddings in Portugal. Natural stone claddings, rendered facades, painted surfaces and ceramic tiling systems were analysed. This research work provides description of applied methodology and criteria adopted in the definition of the degradation condition of the facade claddings as well the estimation of the overall condition of the claddings analysed. It was pointed out the importance of defining the maximum acceptable degradation level, which determines the end of service life of building elements. Description of the deterministic models based on regression analysis is also provided. Building maintenance plan for period of 30 years is made for business building in Osijek. Maintenance plan aims to predict all maintenance activities including maintenance and operation cost. All groups of preventive and reactive maintenance cost are described including overview of activities with associated cost for each group. Using the net present value (NPV) method, the net present value of all future maintenance and operation cost of the building was calculated. Results of the cost analysis (both nominal and net present value) are shown in graphical and tabular form. The sensitivity analysis has shown the influence of the critical variables variation on the net present value of the cost.