With the New Year approaching, some of us begin to take inventory of what we need to fix or replace in our homes. One of those things is our appliances. Here are a few guidelines to help you determine if you just need to fix what you have or if it's time to get something new!
How Old Is It? - As a general rule of thumb, if your appliance breaks down a lot and is over 8 years old, it may be a good idea to replace it.
Cost of Repair VS Cost of Replacement - If the cost of the breakdown is minimal compared to the cost to replace it, it might be better to fix it for the time being then work on saving up to replace it based on other criteria.
Fixed it Once, or More? - Does the appliance break down with the same issues over and over again? It might be time to replace it. If it has only had one issue in a long period of working hard, maybe it's an easy, less costly fix than buying a new appliance!
How Necessary is the Appliance? - Do you need this appliance immediately and it working well is something that affects your every day life? You may want to consider replacing it. If not, maybe wait until it can be repaired or until you have a little extra in your budget to replace it.
Energy Costs - A lot of us work hard at watching how we use appliances to keep our energy costs lower, however, some newer appliances are made specifically to help save energy and therefore are more efficient as well. This may be another consideration when you are on the fence as to whether you should replace or repair.
Is It Under Warranty? - If you have a warranty on your appliance, then you should look into having it repaired. You may have it repaired for less if it meets the warranty specifications and it might be the best bet over replacing the item.
Of course, as with all things, you know what you like and what works for you so these are just guidelines. Some appliances work for years, others not so much. Use your best judgment to see when you need to repair or replace that appliance!