Your appliances are essential for your everyday life, but they don’t last forever. Eventually, they will break down and need to be repaired or replaced. In fact, these days it seems as though appliances do not last as long as they used to. But how do you know when it is time to call an appliance repair company and when it is time to buy a new appliance? In the past, Consumer Reports advised replacing products when the repair exceeded 50% of the cost of buying a replacement. Nowadays, they have produced an interactive tool that takes into account the appliance’s purchase price, age and the cost of repair. In other words, the more expensive the appliance is, the more likely an appliance repair recommendation is given. Of course, it is important to determine what the typical useful life for your appliance is. In the event that you are at the end of that useful life, it may likely make more sense to replace the appliance.
Average useful lifespan of appliances
In 2019, The Association of Home Appliance Manufacturers estimated the average useful life span of various appliances were as follows:
- Gas range: 14.2 years
- Electric range: 11.6 years
- Top-freezer refrigerator: 14 years
- Side-by-side refrigerator: 11.1 years
- Dryer: 13.4 years
- Top-load washer: 11.2 years
- Front-load washer: 9.1 years
- Dishwasher: 12 years
Of course, the above life span estimates seem to be a bit optimistic. In particular, it seems as though post-pandemic, we have seen an increase in quality control issues with many appliances.
Factors to consider for an appliance repair or replacement
- The age of the appliance. Older appliances are more likely to break down than newer ones. If your appliance is more than 10 years old, it’s probably time to start thinking about replacing it.
- The cost of repair. If the cost of repair is more than half the cost of a new appliance, it’s usually not worth it to fix it.
- The severity of the problem. If the appliance is only minorly broken, it may be worth repairing. But if the problem is major, it’s probably best to replace it.
- Your budget. If you’re on a tight budget, you may want to try to repair your appliance instead of replacing it. However, if you can afford to replace it, you may be better off in the long run.
- The energy efficiency of the new appliance. If you’re replacing an old appliance, you may be able to save money on your energy bills by buying a newer, more energy-efficient model.
- The warranty on the new appliance. Many new appliances come with a warranty, which can give you peace of mind in case something goes wrong.
- The features of the new appliance. If you’re replacing an old appliance, you may want to consider buying a new model with features that you don’t have now, such as a self-cleaning oven or a Wi-Fi-connected refrigerator.
Summary
Ultimately, the decision of whether to repair or replace an appliance is a personal one. There is no right or wrong answer, and the best decision for you will depend on your individual circumstances. Of course, sometimes a simple internet search can be quite helpful in determining if your appliance is known to have a particular problem and whether others recommend repairing or replacing it. Lastly, energy-efficient appliances have become a more popular selling feature in recent years. If you are planning on selling your home in the near future, this may be another factor to consider and may favor a replacement.
Are you looking to buy or sell property in the South Florida area? We can help! Contact Natasha at Live South Florida Realty, Inc. today! Also, be sure to download the free Florida Home Search app for your mobile device today!
