Repair Vs. Replace: Appliances

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Photo credit © Helder Almeida | Dreamstime
By 98.5 KTK

It never fails that an appliance will break down at the most inconvenient time. When it does, there’s path you must choose: either repair the current unit or replace it with a new one.  While it's ideal to repair an appliance, it may not make financial sense. There are a few appliances that cost more than it’s worth to fix.  Such as your microwave. The average microwave repair bill is $195, which is much higher than purchasing a new one. The same for a freezer, which has an average repair cost of $350.  Depending on the size and model of your repair, you may find a cheaper one in a store or online. A couple weeks we talked about upgrading the appliances in your kitchen and the last one you should upgrade is your dishwasher.  Mainly because nothing has significantly changed in its technology over the past decade. The average cost to repair a dishwasher is $204, which isn't much.  But if your machine is older (such as manufactured in the 20th century), it may be cheaper in the long run to replace it.  If it is a newer model, repairing may be the way to go. The one appliance that is a tossup is the oven.  The average repair cost is $226, while new models start around $400. So it will depend on the situation and if you are ready to upgrade.  

SOURCE: Reader's Digest

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