If an appliance has lasted more than 50% during its useful life and if the cost of a repair is more than 50% of the cost of buying a new one, you should replace it instead of repairing it. To do the calculations, you'll need to know the typical lifespan (see above) and get an estimate of the repair. Royce Palmer, president of Columbia Appliance, a retail store in Columbia, Missouri, says that you should consider replacing an appliance if the cost of repairing it is more than 50 percent of the cost of a new one. The cost and availability of replacement parts are also an important consideration when deciding whether to repair or replace appliances.
You should consider replacing an appliance if the cost of repairing it is more than 50 percent of the cost of a new one. The decision to repair or replace appliances is up to you, but consulting this list before you decide can help you spend your money wisely and get the results you value most. We evaluate the scale and consider all the possible causes, benefits and disadvantages of replacing or repairing your appliance. If the appliance is less than a year old, it probably still has a warranty that covers parts and labor, so repairing it might not cost you anything.
Know these rules and you can avoid repairing your appliances this year only to replace them next year. However, you also have to consider the cost and logistics of installing a new appliance, says Anthony Arroyo, owner of the repair shop. According to Asurion, it's also in your best interest to repair your faulty appliance if it breaks down constantly. Appliance Doctor Inc states that one of the main causes of damage to appliances is the lack of proper cleaning.
Some appliance repair companies go door-to-door offering free or cheap inspections, and then use that opportunity to claim that they need expensive work. The bright yellow and black EnergyGuide label placed on all appliances in the sales room is a useful tool for estimating how much it will cost to operate an appliance. That's why, boring or not, it's important to know what you're doing when it comes to repairing or replacing your appliances. If you're deciding when to replace appliances, you can apply the 50 percent rule to the age of your appliances and the cost of repairing them, according to HouseLogic, a website of the National Association of Realtors.
You may be able to postpone repairing or replacing an appliance if you adopt some good maintenance practices. Plus, if your appliance is still under warranty, you can always cover all repair costs or get a big discount, Assurant says.