Deciding when to repair or replace appliances can be a tricky decision. But there are some general guidelines that can help you make the right choice. If your appliance is close to its expected expiration date, it may be wiser to replace it rather than repair it. On the other hand, if the appliance has broken down multiple times in recent years, it may be time to consider a replacement.
Notini from the Appliance Manufacturers Association suggests that if you plan to stay in your home for 10-15 years, upgrading appliances is a good idea. This means replacing an appliance that is more than half its expected lifespan and requires repair work that represents more than half of its original cost. The configuration and age of the refrigerator are also factors that determine whether you should repair it, consider a repair, or buy a new one. According to HouseLogic, a website of the National Association of Realtors, you can apply the 50 percent rule to the age of your appliances, as well as the cost of repairing them. If you're into DIY fashion and want to go down the repair route, keep in mind that there are some home repairs that you should never do yourself.
This is because repairs will help you get more out of the appliance and this means greater value for money. The cost of repairs is probably not worth it for many smaller, lower-cost appliances such as vacuum cleaners. If the appliance is less than a year old, it probably still has a warranty that covers parts and labor, so repairing it will cost you nothing. If the appliance is only a couple of years old and the warranty has just ended, it is likely to be cheaper to repair it. That said, if you're on a tight budget, you may have to opt for repairs if the cost is lower than the price of a new appliance.
You may be able to postpone repairing or replacing an appliance if you adopt some good maintenance practices.