Whenever an aging appliance starts making a new sound or no sound at all the immediate question is often whether to replace or repair it. Getting the right answer is a matter of assessing several factors, including:

Determining the life expectancy of the specific appliance – Life expectancy of appliances vary widely with trash compactors averaging about seven years and freezers lasting over twenty years. In between the outside ranges are dishwashers at 9 years, ovens/cook-tops at 14 years, washers/dryers at 13 years, and refrigerators at 15 to 18 years. If an appliance approaching the end of its life expectancy requires anything more than an inexpensive repair, going the replacement route will be the most cost-effective choice.

– Life expectancy of appliances vary widely with trash compactors averaging about seven years and freezers lasting over twenty years. In between the outside ranges are dishwashers at 9 years, ovens/cook-tops at 14 years, washers/dryers at 13 years, and refrigerators at 15 to 18 years. If an appliance approaching the end of its life expectancy requires anything more than an inexpensive repair, going the replacement route will be the most cost-effective choice. The amount of maintenance that has been performed on the appliance – Appliances that have been on a consistent maintenance schedule have a much better chance of reaching and exceeding their average life expectancy than appliances that have not been maintained. Once the average life expectancy of the appliance requiring a repair has been determined, subtract a couple of years if you haven’t done any maintenance and add a few if you have done regular maintenance to get a better picture of how much longer the appliance is likely to last after the repair.

– Appliances that have been on a consistent maintenance schedule have a much better chance of reaching and exceeding their average life expectancy than appliances that have not been maintained. Once the average life expectancy of the appliance requiring a repair has been determined, subtract a couple of years if you haven’t done any maintenance and add a few if you have done regular maintenance to get a better picture of how much longer the appliance is likely to last after the repair. Weighing the cost of the repair versus the purchase price of an equivalent replacement – The line in the sand regarding the cost of appliance repairs is 50 percent of the purchase price. At this level a new replacement is a better bet than staying with an older appliance that is having major issues. There are, however, potential exceptions to this rule which include repairs that are covered under an extended warranty and doing repairs on specific types of appliances. For example, the commoditization of counter-top microwave ovens has reduced prices to the point where anything beyond a cosmetic repair should have owners looking to replace rather than repair.

– The line in the sand regarding the cost of appliance repairs is 50 percent of the purchase price. At this level a new replacement is a better bet than staying with an older appliance that is having major issues. There are, however, potential exceptions to this rule which include repairs that are covered under an extended warranty and doing repairs on specific types of appliances. For example, the commoditization of counter-top microwave ovens has reduced prices to the point where anything beyond a cosmetic repair should have owners looking to replace rather than repair. Factor in the energy savings from of a new appliance – One result of doing a repair on a twenty year old refrigerator is that you’ll be paying up to $100 more per year to run it versus a new model. In many cases, the sum of adding five years of higher energy expenses to the cost of the repair can be within a few hundred dollars of a new model.

Oftentimes going with the less costly option of repairing an appliance can become expensive quickly. By running the above-listed calculations, you’ll be able to determine the most cost-effective choice between doing a repair and buying a replacement.

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