13 August 2019
White wear… and tear: when it’s time to update your appliances
It finally happened: your old trusty washing machine died. It wasn’t a shock, you knew it was coming; the 10 years of service, three breakdowns, and the violent noise it was making whenever it went into a spin cycle, were obvious indicators. And now you are fiscally spent, without the ability to buy a new one.
To make sure you’re not left in the lurch and to help you through your decision-making process while your appliances are still alive, we’ve created a simple guide to identify how often you should replace the major appliances in your home.
Home appliance lifespan
Age is an important factor to consider when replacing your major appliances. Although there is no standardised lifespan, any appliance does have a general life expectancy.
If you’re not one of the lucky few who’s able to buy new, you’ll need to look for the manufacturer’s label to gage the general age. For this, find a torch and be prepared to use a little muscle, as you’ll need to look around the appliance.
Life expectancy varies with usage, weather, installation, maintenance and
To repair or replace, that is the question
Popular 21st century opinion assumes appliances don’t last as long as they used too. And, in this instance, the age-old question of whether you should repair or replace is a tough one. To help you decide whether it needs to be replaced start by asking yourself:
- How much will it cost to repair?
- What is the cost of repairing in contrast to the cost of buying new?
- Has it broken-down before and will it again?
Regular maintenance can extend the life of an appliance, but often is an expense that not many people want to invest in. If in doubt, follow the 50% rule: if the appliance is 50% through its lifespan and the cost of repair is more than 50% of buying new, replace rather than repair.
Old vs. new appliances
Let’s be fair, most of us wait until our major appliances completely die before we consider replacement – squeezing every last load, cycle, wash or meal out. But, what are the benefits of buying new before your appliance reaches the end of its lifecycle:
- Save on operating costs: Everything wears out over time, and with ongoing use it can be more energy efficient to replace your appliances.
- Take advantage of sales: If your appliance was to die today, could you afford a replacement? Christmas, Easter and Black Friday are great times to get a bargain.
- End the frustration: Instead of directing your energy and frustration into appliances that are no longer working efficiently, get your hands on a new appliance that will have a warranty.
Selling with appliances
Investors or home sellers, we haven’t forgotten you. If you’re looking to place your home on the market, whether you should repair or replace can be subjective, and dependent on market conditions.
As a general rule of thumb, if an appliance doesn’t work you should think about replacing it. If your home is in good condition and all your appliances are in working order, then the answer is a little more wishy-washy and we’d recommend discussing your potential return on your investment with your Real Estate Salesperson.
There’s no set answer
By knowing more about your appliances, there are steps you can take to understand when they will need to be replaced. If you have any queries about what Lugtons can do to help you, contact one of our Property Management team today. They will be happy to discuss your home and appliances