It is always prudent to determine when it is time to replace your appliances. It can save you hundreds or even thousands of dollars, which you might end up spending on recurring appliance repair and maintenance. Here are some of the signs that it could be time to get a new appliance:
When the appliance is too old
The age of the appliance should be the first indicator that you should get a new one. Most appliances have lifespans of between 9 and 13 years, and depending on the specific appliance, once it has exhausted its lifespan, there is no use to continue using it. It becomes less efficient and more costly to run, and the best thing to do would be to replace it with a new one.
The 50% Rule
This rule states that if your appliance is half through its lifespan and it requires more than half of its cost for appliance repair, then it would be financially prudent to get a new one. Sticking to it will do nothing other than continue to gobble up your resources with very minimal benefits from the appliance.
A major breakdown
Suppose your appliance is not yet past half of its lifespan but it has experienced a major breakdown, which might require you to pay upwards of 50% of its original cost for appliance repair services. In this case, it is also advisable to consider purchasing a new one. Going ahead with such major repairs may work in the short run, but they may eventually recur and cause you to spend more money.
The same is also the case when you have to do constant repairs and maintenance on the appliances, even though they are relatively new. Constant repairs have a way of deteriorating appliances quickly, but also causing you to spend a lot more money in the process.