Frederick Jace
Refrigerators are designed to last. However, they are not meant to last forever. So, as your refrigerator grows old, it starts to break down frequently and consume more power than usual. Now, this is when you have to decide whether to replace or repair your old refrigerator. However, it’s important to understand that there are numerous factors that influence the decision of whether to repair or replace your old refrigerator.
The major factor, in this case, is the age of the refrigerator. The average lifespan of an old refrigerator is 10 – 20 years. So, the older your refrigerator is, the higher the repair costs. However, if the refrigerator is less than 8 years old, repairing it would be the best option. But, the 50% rule comes to play in this case. That is, if the repair costs are more than 50% of the original cost, a replacement will be the best option.
Here are other factors to consider when determining whether to replace or repair your old refrigerator.
Your utility bills are increasing
Have your energy bills spiked in the last few months, and yet your power usage hasn’t changed? If that’s the case, there’s a chance that your appliances are becoming inefficient—and your old refrigerator might be the culprit. That means you must replace it with a new one.
Today’s refrigerators come with an Energy Star rating, which makes them more energy efficient compared to older refrigerators. An energy-efficient fridge is not only good for your wallet, but also for the environment.
So, when replacing your old refrigerator, you need to consider the type of fridge as well as the features that come with it. For instance, refrigerators with a manual defrost option are more energy-efficient than refrigerators with automatic defrost so long as they are maintained well. Also, refrigerators with freezers on the top use less energy than their counterparts with freezers at the bottom.
You find a better deal
If you have an old fridge, and you come across a modern refrigerator with a better deal, you should consider purchasing it. Doing so will make it cheaper to replace your old fridge. However, you should make sure that you have the money ready and have done proper research before purchasing the new refrigerator.
Most people might consider this a waste of money. However, it’s good to remember that your old refrigerator is susceptible to frequent breakdowns, which can cost you money, not to mention high energy consumption. So, staying with your old refrigerator can be quite an inconvenience when it breaks down.
According to the experts from Tampa appliance repair, Hartman, instead of waiting for your old refrigerator to break down at the most inappropriate time, it’s always a good thing to take advantage of discounts and promotions when you come across them. Otherwise, you might not come across such deals when you finally decide to replace your old refrigerator.
If your old refrigerator is still in a good condition, you can still sell it—even if it’s at a throw-away price. This will still help you return some of the cash you used when purchasing the new appliance. However, you should let the buyer know how old the refrigerator is. And, if you cannot find a buyer for your old refrigerator, make sure that you recycle it properly. This is a very important process, which most people don’t think is possible. Most old appliances like fridges and other kitchen appliances have hazardous materials that require proper and safe disposal, rather than being tossed in a landfill.
Your repair costs are ever-increasing
If your old refrigerator is close to the end of its lifespan, repair and maintenance-related issues will increase, and so will the associated costs. So, rather than spending most of your money repairing your old refrigerator, you should replace it with a brand-new one. While this might cost you some fortune upfront, it will save you a lot of money in the long run. With a new and modern refrigerator, your utility bills will definitely come down, and you will not need to worry about repair costs anymore.
How much does it cost to replace a refrigerator?
Although repairing an old refrigerator might be cheaper than replacing it, there comes a time when replacing the refrigerator is the best option. So, when is that time?
The average lifespan of a refrigerator is around 10 – 15 years. However, your refrigerator can last up to 20 years with the right care and maintenance. So, if you’ve had your fridge for the last 20 or so years, it’s the right time to replace it.
However, it’s important to understand that replacing a new refrigerator is not cheap. It can cost you anywhere around $500 to $3,000 when replacing a refrigerator. So, when planning to replace your old fridge, you must be financially prepared to avoid unwanted surprises.
