There will always be a time when replacement will be the most economical decision for your home or office appliances. But before you head to replace an appliance, you should do the cost and benefit analysis very carefully. In most of the cases, repairing an appliance to extend its usable lifespan is more beneficial than getting a new one. You don’t want to make a misguided decision of replacing an appliance when repairing it would be a more cost-effective decision. Consider the following five points to make an informed repair vs. replace decision.
- The Expected Life Of The Appliance
Get your appliance repaired if it’s not very old. Every appliance has its expected life. If yours has reached or crossed the mark of its expected life, you can replace it. But, if your appliance is relatively new, replacing it can prove to be a bad economic decision. So, you should check the expected life of a particular appliance before you start searching a new appliance to replace it.
- The Degree Of Risk
Most of the appliance failures are risk-free while some may pose serious health, security or environmental hazards. Did your appliance simply stop working and refuse to get re-started? Then it is not posing any serious health or security threat to you. In such cases, you should simply hire Expert Repairs and get your appliance repaired. If your appliance breaks down regularly and poses any high-degree risk such as fatal short-circuits, replacing it can be a good decision.
- Obsolete Parts And Technology
When the model of your appliance has become technologically obsolete, you might not have the option of repairing it. If finding the required part to be replaced is very tough or costly, it’s okay to replace your appliance. However, if the appliance is not obsolete and you can find its parts in the market, you should certainly go for the repair. It would be a sheer waste of money and resources if you replace an entire appliance when you could make it work as new just by replacing a small part.
- Cost Of Repair
You can opt for replacing your appliance if the cost of repair is really high. In order to know whether the cost of repair is high or not, you need to get an estimated quote from an expert. If the cost of repairing your appliance is half or less the replacement cost, then you should go for repairs. Generally, the actual costs can be a lot lower than the estimated quote. Repairing is the preferable option in such circumstances.
- The Level Of Performance
If your appliance performance level has degraded and no repairing can bring it on par with the expected performance, then replacement seems the best option. But in most of the cases, the performance of an appliance can be upgraded by simple repairing. So, get in contact with an expert who can assess the performance level of your appliance. If it can be upgraded, don’t choose to replace it.
Replacing a functional appliance is a bad decision not only for you in terms of money but also for the environment as a whole. So, think twice before replacing an appliance.