The following is a list of factors and information to consider when your home appliance is not working or is starting to malfunction.
Warranty
The first thing to check is whether your appliance is still under warranty, either by the original manufacturer or under one of the extended warranty options by the retail seller or programs like American Home Shield, and others. If it is, you may be able to get the replacement of major parts or the entire unit covered by the manufacturer or the retailer.
Cost vs. Repair
Another important factor is the cost of repair versus the cost of buying a new appliance. A general rule of thumb is: If an appliance is more than halfway through its lifespan and the repair costs more than 50% of the price of a new one, you should consider replacing it. But if fixing it is less than half the cost of buying something new—and it’s not that close to the end of its life, a repair is probably the better option.
Below is a list of common appliances and their average lifespan.
- Dishwasher: 9 years
- Refrigerator: 13 years
- Range: 13 to 15 years
- Cooktop: 13 to 15 years
- Wall oven: 14 years
- Over-the-range microwave: 10 years
- Washing machine: 10 years
- Clothes dryer: 13 years
Energy Efficiency
Another factor to consider is the energy efficiency of your appliance. Many of today’s models are more energy efficient than older models, which means they can save you money on your utility bills and help the environment. You might also receive a tax credit for purchasing an energy-efficient appliance.
You can compare the energy efficiency of different appliances by looking at their Energy Star ratings, which indicate how much energy they use compared to standard models. The higher the rating, the more efficient the appliance.
Personal Preference
You may also want to consider your personal preference and needs when deciding whether to repair or replace your appliance. For example, you may want to upgrade your appliance if you are remodeling your kitchen or laundry room, or if you want to have more features or capacity. Or you may want to keep your appliance if you are attached to it or if it matches your decor.
If after conducting the research noted above you decide to repair your appliance, you will be better prepared when talking to an appliance repair company. It should be noted that some appliance repair companies are quick to recommend replacement. Be aware and be prepared.
