Major home appliances involve bigger expenses that represent a large part of your home investment. According to the National Association of Home Builders, new home buyers often have the highest total appliance spending at over $3,094 than the $1,889 for current home buyers. The largest expense in the appliance budget often goes to refrigerators, computer hardware, washers/dryers, and yard equipment.
This is a contributed post and does not necessarily reflect the opinions of Meet The Harris Family.
That is why when a homeowner encounters a series of machine breakdowns, stress will immediately follow. Although repairs can extend the life of an appliance, time will come when you need to compare an appliance’s life expectancy and repair costs. If the price and life expectancy aren’t on the same page, there’s a bigger chance to get a replacement.
If you’re a cost-conscious buyer, you want to maximize the life of your home appliances and pick the best opportunity for replacements. To help you decide whether to replace or repair your appliance, this article will discuss important considerations before making a huge purchase decision.
HVAC systems
Proper maintenance on central air conditioning can add over five years of life to your current unit. Do this by replacing filters once every three to six months. For bigger repairs and annual maintenance, leave the job to a professional HVAC repairer. Maintenance inspection includes checking for leaks, drain lines, coolant levels, coils, and fan blades.
If the unit is still working well and one of its mechanical parts breaks down, fix the problem immediately to avoid more issues. But if the problem lies in the broken compressor, deteriorated coils, or leaking coolant, then it is time to replace it.
Washer and dryer
While the washer is one of the most important components of household appliances, it isn’t a very costly investment. Regardless of the damage, it is more reasonable to buy a brand-new washer than spending money on repairs, especially if the warranty doesn’t cover the problem.
The life expectancy of a washer can range from 10 to 13 years, where a unit can cost $450 to $1,300. Meanwhile, repairs can cost $50 to $300, depending on the issue. Some repairable problems may vary from loud noises or vibrations, slow-filling washers, and broken washer doors.
The same rule goes for the dryer. A replacement will cost $450 to $1400, while repairs range between $50 to $400. If the dryer reaches more than 50% of its lifespan (10 to 15 years), then buying a brand-new unit is reasonable. More often, homeowners prefer to replace their dryer and washer at the same time to score deals or bigger discounts.
But if the warranty still covers the repair, give it a chance for longer use. Some fixable issues include loud thumping and heating issues. Observing proper maintenance is also helpful in prolonging a dyer’s lifespan. Do this by checking and cleaning the exhaust duct, hose, and lint trap.
Kitchen appliances
When it comes to the stove, it is natural to encounter minor issues that require quick fixes, but if the problems keep piling up, consider getting a replacement. A clear sign of an aging oven is when the interior begins to show signs of rust. To avoid food contamination, it is better to get a replacement.
A new range stove may not be necessary for rare and minor issues. These include cracks in the glass door or ceramic top, which you can remedy by swapping out new ones, or issues in the heating element which only require a gasket replacement. The usual repair cost is between $100 to $250 only, while a brand-new stove ranges from $550 to $2000.
Refrigerator
Moving on to the refrigerator, this appliance probably has the shortest lifespan among the rest. While a refrigerator can last up to 15 years, consider replacing it if the old unit is over eight years. An old and beat-up refrigerator will only incur high energy bills, costly repairs, and spoiled food. You will notice this if you place a thermometer inside and the temperature goes up at more than 40 degrees.
One of the signs that your fridge is worthy of an investment if there are only minor repairs that need fixing. These include replacing its door seal, installing a new light bulb, or changing its water filter. The cost of repair is around $100 to $400.
Dishwasher
A dishwasher can save time by cleaning all the dirty dishes, but if your glassware comes out dirty, it is about time to replace it. A dishwasher can last up to 10 to 12 years, where a brand-new unit costs $300 to $800. It may be impractical to settle for an old one since a single repair costs $100 to $300. If you’ve been paying for a couple of repairs, the total cost is almost equivalent to a new dishwasher.
Replacing home appliances is a costly expense for homeowners with a tight budget. If you find yourself torn between repairing or replacing an appliance, consider all our suggestions above to make cost-effective decisions on your finances. While the choice is up to you, choose the path you will value the most.
Thanks for elaborating on how sending an appliance for repair is an option after it stops working. I heard from my uncle that he’s interested in getting a new refrigerator for his home. I’ll be sure to relay the idea of consulting a repair expert once his new unit breaks down.