When you have an old appliance that starts having issues or stops working, it’s very easy to just throw it away and replace it, right? How do you know when to repair or replace an appliance?
Should You Repair That Kitchen Or Laundry Appliance?
Often times, an appliance breaks and you think, okay, it’s dead now. However, before going straight to the appliance store, check and make sure that the appliance is plugged in, that the circuit breakers are working properly, or that filters are unclogged.
Check your warranty program to see if the company will cover labor and parts. Most programs offer one or two years of warranty coverage. If your warranty is already expired try calling the service hotline and see if they may honor an extended warranty for you on special circumstances; most programs have decent customer service.
Check the appliance’s life cycle to determine if yours has prematurely malfunctioned. Most general appliances last between 10-15 years before being replaced, so if you have had that appliance for a similar number of years, then it may just be easier to replace it.
You can also determine whether to repair or replace by following the 50% Rule. If your appliance is at more than half of its typical lifespan years, and if the repair costs are more than 50% of buying a new appliance, then it’s time to replace.
Of course, if you’re a bit handy with appliance machines and their parts, you can also save some money by fixing it yourself. This is strongly advised to only be performed with every safety measure to reduce risk of injury and that you are capable of successfully fixing the issue (rather than making it worse).
What’s the “Real” Cost of Replacing That Appliance?
If all arrows point you toward replacing the appliance, then there are still a few steps to cover before making the final purchase.
- When you begin to search for an appliance, ask questions about delivery or installation because that may be an extra cost that they do not put on the price tag.
- You also want to ask questions about any further steps needed for the appliance, such as if it needs to be electric versus gas powered in your home. This will probably also cost more as you will benefit from paying for labor during installation.
- Don’t put style over functionality, as the trending appliance that you see everyone buying may not be the one that you actually need or would use, causing a further waste in money.
- Lastly, make sure that any appliance that you purchase is going to fit neatly in your home – you wouldn’t want something like a fridge not fitting in your kitchen.
Whether you choose to repair your appliance or invest in a replacement, make sure that you go through every step to ensure the best price for you.