Deciding whether or not to replace or repair a broken appliance can be a tricky decision, and many people end up opting to trash their broken appliance for a newer, fancier model. This logic may seem practical when considering the cost and hassle of repairs; however, upon further examination, springing for a new washer, fridge or dryer can be wasteful and cost you more in the long run.
You don’t replace your car every time it needs a new headlight or an oil change, so why would you throw out a perfectly-good dishwasher that may only need a new part or a small repair? Read on to find out why repairing your broken appliance is the best choice in most cases.
Stick to your budget
The most important reason to consider a repair instead of a replacement is to save you and your family money! When deciding to repair or replace, experts say to follow the 50 percent rule. According to this simple rule, you should replace the appliance if it will cost more than half the price of a new model to repair it, and vice versa. So basically, if it will cost you less than 50 percent of the price tag on a new model, a repair is your most fiscally-responsible choice.
“When deciding to repair or replace, experts say to follow the 50 percent rule.”
According to Angie’s List, repairs are usually only 20 to 30 percent of the cost of buying a brand-new appliance, so in most instances it will be cheaper to stick with the appliance you have rather than purchasing a new model.
Reduce your contribution to landfills
In addition to saving you money, repairing your appliance is an easy way to reduce your environmental impact. Choosing to stick with your existing dishwasher, refrigerator or washing machine, rather than tossing them into the trash, will minimize your waste production, and decrease your contribution to landfills that are brimming with perfectly good appliances that simply need a small repair.
Don’t forget about hidden costs
If you are considering replacing your current fridge, dishwasher or dryer you are probably only considering the cost of the appliance itself. However, it is important to remember that there will be other costs associated with a new appliance purchase.
For example, if you are purchasing a gas stove, but do not currently have gas hookups, you will need to factor in the additional costs of a gas line installation. Maybe you have your eye on a flashy new refrigerator with an ice maker and extra space, but be sure to also consider the extra energy costs associated with a bigger and better model.
Are you considering a new dishwasher, over-the-range microwave or wall oven? These built-in appliances will most likely require professional installation, which can cost up to 25% of the price of the appliance, adding a pretty major increase to the original price tag.
Is one of your appliances acting up? Chances are you are better trying to repair it, instead of wasting money on an expensive replacement. If you need a repair or are not sure if you should repair or replace an appliance you can always give us a call and we will be happy to come out and offer our expert advice!