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5 key signs you need to replace your appliances – and the best ways to save money


5 key signs you need to replace your appliances – and the best ways to save money

©Shutterstock.com

©Shutterstock.com

It can be difficult to determine if your home appliance is broken. Unfortunately, the appliance often has to break down completely before you notice a problem. And of course, every problem costs money.

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Find out: 6 money moves you need to make if you want to be like the rich

To save you from a total breakdown, here are five key signs that you need to replace your appliances and the best ways to save money in the process.

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Sounds

An important indication that your device needs to be replaced is if it starts making strange noises.

“If you hear noises like humming or whistling, or excessive noise that is unusual, you should consider repair or replacement,” says Michael Clarke, founder of Pulled, a home management platform.

“Additionally, if the appliance won’t turn on and stops working, if water is leaking around the appliance, or if your electricity bill is higher than usual for the time of year, these are signs that your appliance needs to be repaired or replaced,” he added.

Check out: 6 Things Thrifty Baby Boomers Never Buy

rust

Another sign that a device should be replaced is rust or signs of wear.

Moniqueca Simms, owner of SSG Appliance Academy, explains: “Rust is a clear indication that your appliance needs to be replaced. In addition, other signs of wear and tear such as cracks can also indicate that it is time for a replacement.

“If you need to repair the appliance frequently, it may be more practical to replace it,” she continued. “Although almost all appliances can be repaired and this is usually the most cost-effective option, there are cases where the cost of repair is so high that replacing the appliance makes more sense.”

Old

Another indicator that your device should be replaced is its age.

“To determine if replacing or repairing your appliance is necessary, we recommend applying the 5-10-15 rule. According to this rule, it might be cheaper to repair your appliance if it is 5 years old or newer; if it is between 5 and 10 years old, it is a good idea to compare the cost of a repair to that of a replacement; and if it is 15 years old or older, it is usually best to replace it,” Clarke said.

Simms also said age is a warning sign.

“Newer appliances are designed to last 7 to 8 years, so depending on the age of your appliance, replacing it may be a good consideration. Older appliances tend to use more energy, so if you’re noticing a significant increase in your electricity bill, it may be due to an inefficient appliance that should be replaced with a more energy efficient model,” she said.

Security concerns

Worn or defective equipment can be dangerous.

“Safety concerns such as frayed cords, gas smells or electrical problems are important reasons to replace an appliance immediately,” said Simms.

Availability of parts

Finally, you want to find out whether you can still get spare parts for your device.

“If spare parts are no longer available, it may be necessary to replace the device to maintain functionality,” Simms said.

How to save on household appliances

Fortunately, there are several ways to save money when purchasing household appliances when you need to replace them.

“We recommend shopping during sales events such as Black Friday, Cyber ​​Monday and the holiday season when prices on home appliances can be significantly reduced,” Clarke said.

He also suggested looking at showroom models that may have “a few cosmetic issues” but are mechanically sound and come with a full warranty.

Simms recommends saving money by looking at slightly older models.

She explained: “If you want to save money, don’t buy the latest model. As newer models come out, the price of older models drops, and they often have the same features and performance. You can also find great deals on units that are still in their original packaging and still come with a warranty.”

The experts also recommended bundling or purchasing multiple appliances together to reduce costs, or looking for energy-efficient appliances that may cost more initially but are eligible for tax rebates and other incentives.

Find a reliable device

Both experts agree that when buying household appliances, you should rely on reliable brands.

“We recommend mid-range models from a good brand rather than a high-end model from a less expensive brand. They often have comparable performance to higher-end models and better performance than lower-end models without being overpriced,” Clarke said.

Simms recommends sticking to the basics.

“Most appliance repair technicians prefer basic models because we know which ones are the most reliable. I stick with brands like Whirlpool, Amana, Maytag, Frigidaire and GE. These are inexpensive appliances that last a long time and don’t break as often,” she said.

She also recommended purchasing an extended warranty for new appliances as it is worthwhile and can help reduce repair costs.

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This article originally appeared on GOBankingRates.com: 5 major signs you need to replace your appliances – and the best ways to save money

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