There are many things to consider when dealing with faulty, malfunctioning home equipment and devices. Should you try and fix the issue? Is it more finically prudent to just purchase a new product instead? Read on to learn whether repairing or replacing appliances is more affordable and which option is best for you.
Repairs Are Almost Always More Practical
While it’s very tempting to ditch your worn home appliances for the newest devices and gadgets, this solution is often significantly more expensive. Newer machines are costly—the average washer and dryer combo can set you back anywhere from $700 to $5,000 and more! Meanwhile, most washer and dryer repair services cost under $250 per device, depending on the specific model, brand, and condition/technical issues.
And most home appliances under 3 years old are still covered by a company warranty, meaning repairs cost you absolutely nothing. Additionally, even “older” appliances boast an impressive life span of 10–20 years. So if your equipment is under 10–15 years old and fixable, consider hiring professional services and saving some cash. As a bonus to saving money, choosing to repair an item rather than replace it significantly helps reduce environmental waste and curb the effects of climate change.
Situations Requiring Replacement
Now, there are situations in which replacing your faulty appliance is a financially smart move. To determine if buying new equipment is practical, use the 50 percent rule. If your device is older than half of its expected life span, then it’s recommended that you replace the outdated unit. This is also true if the repair services cost over 50 percent of the cost of simply purchasing a new appliance.
So how long does each instrument typically last? Washers and dryers usually run strong for 10–15 years, a refrigerator might last 9–14 years, and a dishwasher is good for up to a decade. You can speak with a professional appliance repairperson to determine whether your equipment is ready for retirement.
DIY Repairs Can Be More Expensive
If you decide to proceed with repair services instead of replacement, it’s best to avoid a DIY project. Sure, skipping the use of professional services does save you on labor costs. However, the risk of exasperating the issue and causing further problems makes DIY repairs very risky and potentially more expensive.
Plus, these businesses and individuals have better access to home appliance parts and components. When you hire an expert, you can rest assured that their experience, knowledge, skills, and specialized tools will ensure a smoother, faster, and more effective repair process.
Usually, repairing appliances is far more affordable than replacing them, so always consider salvaging your piece of equipment before purchasing a new one. When in doubt, consult a professional and/or home appliance business to find the most effective and financially practical solutions for your problems.