I cannot tell you how many times we have faced this question with homeowners in the Ozarks. It is nearly almost the same, we are called in to repair an appliance or HVAC system and discover that a costly repair is needed to get things running again.
Maybe it’s an old system or appliance, and the owner feels it’s almost at the end of the road, or maybe the cost of repair seems to outweigh the benefit. Sometimes it is obvious, with overwhelming numbers to make it easy but more often it’s a bit more difficult to figure out which path makes more sense.
Today we are going to offer some help on how you can decide between repairing or replacing a broken appliance or HVAC system. While each situation is unique, we hope these tips help you come to the decision that is right for you and your family.
Age matters, and if your appliance or system is older than seven years, you may want to replace it. This is especially true if the cost of repair is significant. A new appliance will be more efficient and easier repair, get parts for and finding qualified technicians will be easier. You might set a monetary limit, such as if the repair of the older appliance is 1/3 of its value, then you might be time to replace.
Cost is an important factor when considering the difference between repairing and replacing. A good rule of thumb is that if a repair cost approaches 50% of what it would cost to replace the unit and have a new, fully functional item,then you might want to lean towards replacement. Keep in mind, however, that cost typically shouldn’t be the only factor in your decision.
Does your appliance or HVAC system seem to break down often? Does it adequately perform its function or are you always needing more from it than it can give? If you are unhappy with the performance of the item, or you are tired of it breaking down, you may just want to replace it. Over time you may find out that it was running poorly all along, frustrating you and costing you money due to wasted energy.
As a home owner you have to decide what is best for you. Nobody is better qualified to make this decision since nobody knows your budget and needs like you do. These guidelines can offer some help when you’re faced with a difficult decision, so weigh your options carefully so that you’re happy with whatever choice you make!