As things stand now, newer appliances are more energy efficient than older versions. The problem is that some of those old versions are just so darned hardy that they make these new ones look like toy soldiers. But once an appliance breaks, there are two main questions that come to the owner’s mind; should I repair or replace it?
If you have the money, and the appliance happens to be quite old, the decision is simpler for you, just buy a new one. If you do not have the money and the appliance isn’t quite old then you can simply repair it. If you do not have the money and the appliance is quite old then you are in quite a pickle. You can either repair it and hope for the best or take time off using it to save up and buy a new one? But what if it’s an everyday appliance?
These are way too many ifs and still, the answer may not be clear. To make matters a little bit easier, here are some qualifying questions that should sway you one way or the other.
Is it completely broken?
As humans, we tend to be surprising, even to ourselves. Before you start panicking and calling your accountant, make sure that the appliance is really broken. Check if:
Is your warranty still valid?
Most appliance warranties cover the labour and parts for a year or two. Check to see if it is still under warranty then you can just simply take it in for a service call instead budgeting for a new one.
Has it really come to the end of its life?
Every machine has a viable life cycle that determines just how useful and efficient the machine can be after a certain period of time. If your appliance is too close to the end of its life, then it is only wise to replace it rather than repair it.
Lifespan examples include:
Use the 50% rule
Take these two things into consideration. If the machine is more than 50% through its useful lifespan and the estimated cost of repair is going to be more than 50% the price of a new one, it is best to replace rather than repair. You will have to know the expected lifespan of the appliance and the estimated cost of repair including diagnostic trip charges. Simply calling the supplier will give you all this information.
If you are planning to sell your house or use AirBNB to make extra rental money, it is often best to have new and functional appliances. Take into account the entire situation surrounding your house, your finances and the where the appliance is currently in its lifecycle. Sometimes, however, you have no choice but to replace should the damage be irreparable…like stolen appliances.