Homeowners depend on their kitchen appliances to run smoothly every day. But when the washing machine begins to overflow and the fridge won’t keep things cold, it might be tempting to replace the machines with newer models. Before shopping around, here are a few tips from retailers Lowe’s and Kellum Appliances to determine whether to repair or replace, keeping in mind age, repair costs and energy efficiency.
First check the owner’s manual. If the appliance is relatively new, the warranty should cover the cost of replacement parts. Contact the appliance manufacturer or retailer where the item was purchased. They may be able to diagnose the problem and offer solutions.
Next, figure the cost of repair and compare it to the cost of purchasing a new appliance. If the appliance is relatively new, replacing a part may be more practical than buying a new machine. But if the repair cost is more than half of the purchase price, replacement is a better option.
Many of today’s models with the ENERGY STAR label are more energy-efficient, so upgrading to a newer model will save more money in the long run. Replacing a dishwasher manufactured before 1994 will save more than 10 gallons of water per cycle and about $30 to $40 per year in utility bills, while ENERGY STAR washers use 37 percent less energy and more than 50 percent less water than standard models.
If finances dictate upgrading only one appliance, start with the refrigerator. Because it runs continuously every day, it uses more electricity than other appliances, so a replacement will see immediate savings in utility bills.
Your Home Newsletter, October 2012