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Is it Time to Repair or Replace Your Appliance?

These days, our home appliances have become such an integral part of our lives that we often don’t know what to do when they malfunction. Considering that many of them represent significant financial investments, it is tempting to always first seek the services of a qualified appliance repairman instead of purchasing a new model. In some cases, that is exactly the right decision, but in others, it is actually more cost-effective in the long run to buy a newer, more energy efficient machine. Read on to learn about some of the appliances in your home to learn which is the better option: replacement or repair.

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Your Refrigerator

This can be one of your more costly kitchen essentials, which might lead you to opt for the appliance repairman, but think again. Depending on the age of your refrigerator, it can often cost as much to repair your old fridge as it would to buy a new one. For example, you are quite likely to pay over $320 to fix your old model, which is roughly what you would save in five years if you replaced your 1999 side-by-side with a new Energy Star version.

Your Dishwasher

Should you spend around $250 to repair your 10-year-old dishwasher or should you buy a new one? The bottom line is that dishwashers usually last about nine years, which means you have probably just about come to the end of your machine’s lifespan. Instead of trying to fix it, spend about $150 more for a new Energy Star dishwasher instead. Chances are, it will be quieter and much more efficient. If you’re someone who has put off buying a dishwasher because you believe that hand washing your plates, cups, silverware and pans is more cost-effective, think again. Statistics show that you will pay around $754 to hand wash your dishes over ten years, as opposed to $323 to run a dishwasher.

Your Furnace

A furnace should last anywhere from 15 to 20 years, with a new energy-efficient one costing at least $1,600. Given these considerations, if you believe your furnace is young enough and that repairs are sufficiently inexpensive, your best bet is to get it fixed instead of replacing it.

Your Electric Dryer

If this appliance is five or even 10 years old, it probably still has a lot of working years in its future; the average lifespan of an electric dryer is 13 years. When the appliance repairman comes, he will generally charge you roughly $200 for the work, which is about one-third of the cost of a new dryer. Before you even make the call to bring the pros out to fix your dryer, make sure all of the vents are clear as well as the lint trap. This single trouble-shooting step might actually fix the problem with no outside intervention needed.

As you can see, the decision of whether to repair or replace depends on several factors. These include the age of the appliance, the extent of the problem and the average lifespan of the given machine. Before making any kind of decision, it’s always best to get the opinion of a certified appliance technician. Knowing this information can help you to remain within your household budget by only getting new appliances when you truly need them.

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