When a major household appliance breaks down, homeowners are faced with a difficult question: Is it worth repairing, or should you cut your losses and buy a new model? Follow these industry guidelines to make the best decision for your wallet.
The 50% Rule of Thumb
A simple guideline used by appliance professionals is the 50% rule: If the cost of the repairs exceeds 50% of the price of a brand-new, equivalent replacement appliance, and the unit is past the midpoint of its expected lifespan, it is generally wiser to replace it.
Average Appliance Lifespans
Understanding how long your unit is built to last helps evaluate the investment:
- Dishwashers: 9 – 12 Years
- Washing Machines & Dryers: 10 – 14 Years
- Refrigerators: 11 – 15 Years
- Ovens & Ranges: 13 – 16 Years
The Hidden Costs of Replacing
Remember that purchasing a new appliance often includes additional expenses like delivery fees, professional installation, removal/disposal charges for the old unit, and potential cabinetry modifications to fit new dimensions. Repairing is almost always the faster and more cost-effective option for minor-to-moderate faults.
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