Repair or Replace Appliances - How To Decide?

When your home appliances are ailing, you may struggle with that perennial question: Repair or replace? Here are 5 questions to ask yourself before you make any decisions.

  1. How old is the appliance – General rule of thumb is ripe old age of 7 or more, it’s probably time for a replacement.
  2. What will the repair cost – It’s probably wise to replace an appliance if the repair is going to cost more than half of the price of a new one.
  3. How involved is the repair – Sometimes the type of repair can dictate whether you need a new machine or a fixed up one.
  4. Would a replacement save money in the long run – You’ll want to consider how much it costs to operate the appliance in addition to the purchase price.
  5. Could your old appliance benefit someone in need – Your old appliance may not be thrown away – it could benefit someone in need.

           *Courtesy of Realtor.Com