It is a well-known fact that it is usually far more cost effective if you can repair a household appliance to extend its lifespan and usefulness, but how do you know when it doesn’t make sense financially?
It usually comes down to age of specific household appliances, but here are some criteria to help you decide.
What is the cost?
The rule of thumb, whether it is a car or an appliance, if you are shelling out more than 50 per cent to repair it, compared to what it would cost to buy a new one that is usually an indicator that you should be looking at replacement over repair.
What is the problem?
Make sure that the appliance indeed is broken. Check power sources and cords- just to be safe.
It doesn’t make sense to repair some appliances because they have a limited lifespan, so sinking money in repairs is just throwing money away. For example, if your washing machine breaks down, and it is over 10 years old, it makes more sense to replace it. The same goes for a dishwasher (9 years old) and a dryer (13 years).
Have you had to repair it before?
Do you keep repairing the same appliance over and over again? If you add up cumulative repairs, it may not be the most budget-friendly idea to keep repairing it. It also could be the sign of bigger trouble.
Is it energy efficient?
You don’t just have to replace an appliance because it is broken. It’s a smart financial move to upgrade your appliances to energy efficient ones. They tend to have longer lifespans and will cost you much less in operating costs.
Do you have a warranty?
This one is a no-brainer. If your appliance is still covered by warranty, it is worth seeing if you can get it repaired.