Most homes have appliances that are kept around for years because they still run. Maybe they don’t run quite as good as they used to, but are still functional and can come through for you in a pinch during entertaining. But when is it time to replace those appliances? Maybe they don’t seem that old to you, but there are always new models with new bells, whistles and tricks that you wish you had. Not to mention the new energy efficient models.
A good rule of thumb to follow is if the appliance is more than three-quarters its life expectancy and any type of repairs would cost you one-third or more of the purchase price of a new appliance.
But what are the life expectancies of an appliance? On the website www.appliance.net it gives these guidelines on some items throughout your home:
- 6 years – trash compactor
- 9 years – dishwasher, microwave
- 10 years – clothes washer
- 11 years – freezer, electric water heater
- 12 years – garbage disposal
- 13 years – refrigerator, clothes dryer, electric range
- 14 years – range hood
- 10-15 years – gas range, kitchen faucets
- 20+ years – water heater (tankless)