Deciding whether to repair or replace broken appliances in your home can be challenging. When is the right time to say goodbye to your investment and spend your hard-earned cash on a new machine? How can you be sure you’ve gotten everything you can out of your old appliance?
Get a Professional Repair Quote
The first step in determining whether to repair or replace is to get a professional diagnosis of the problem. Find out why the machine is no longer functioning. Next, ask the repair person how much it will cost to fix. A quote can immediately help you to determine the financial burden of repairing versus replacing. If you don’t have a lot of money, taking the cheaper route might be the only way.
Research Warranty Coverage
Find your original purchase papers and review the warranty coverage. If the manufacturer is still liable for certain parts, you might not have to pay a cent for repair, though they may require you use company-approved technicians to carry out the service.
Account for Delivery and Installation Fees
If you’re leaning toward replacement, it is not only the sticker price of the machines you should consider, but the cost of delivery, installation and hauling away your old appliance. Factor those fees into the final price.
Consider Energy Efficiency
Assess how much energy your current appliance uses. If you already have an energy-efficient model, spending money on repairs will allow you to continue using an appliance you know keeps your utility bill low. However, if you could save significantly by upgrading, it might be worth the bigger cost up front.
Use the 50% Rule to Make a Final Decision
Many home improvement experts utilize the 50 percent rule when it comes to making an appliance-purchasing decision. If the machine is more than halfway through its expected life span and the cost to repair it would exceed 50 percent of the price of a new appliance, replacing it is the most cost-effective course of action. Otherwise, it may be better in the long term to repair.
You Can Always Buy Used
If you are torn between repairing and replacing broken appliances, always consider a third option: buying used appliances at a discount.
You can find certified used appliances from many reputable dealers that may not come with an original manufacturer’s warranty, but will come with an assurance from the retailer with a guaranteed window of service in case of any breakdowns. These appliances normally cost less than buying brand-new products, but you still get a relatively recent model.
Contact Peter’s Appliance for a quote on the expected repair costs of your broken appliance, along with professional advice on whether repairing or replacing is right for your situation and budget.