Commercial egg farms rotate the old hens out after a year, but the drop in egg production is often hardly noticeable on a homestead scale till the birds are at least three years old. So you can save yourself the bother of raising new chicks for another couple of years. And if there is a rooster, you could always try to let a hen hatch her own. Some breeds are better than others at this, but if a hen goes broody....wants to sit on eggs and fusses at you if disturbed, that's a good chance that she is game to sit on eggs. Of
course, half the chicks will be roosters, but if you have
enough young hens, then you just eat the young roosters, along with the old hens, and then you're left with new hens. Since any rooster from this process will be related to the hens, it's best genetics-wise to bring in another rooster from somewhere else to keep the process going.