Deciding whether to repair or replace broken things includes many factors to consider. If your appliances, car, or electronic equipment breaks down, you need to calculate repair costs first. You also need to consider if simply replacing the item is more cost effective. It’s not always easy choosing to repair or replace a product, but we offer some guidelines to help you decide.

Warranty Status

If any of your things breaks down, you should check if it’s under warranty. If your item is under warranty, simply check the warranty guidelines to have your item fixed or replaced. In case that you purchased a warranty from a third party, contact the warranty provider to check on the conditions and terms. It’s usually cheaper to fix an item under warranty than to attempt a DIY repair or buy a new one.

Repair Costs

Before you make any decisions, you should check the total price of a repair against replacement costs. Since some repairs may cost fairly little, it’s important to get a quote from a professional first. Depending on the extent of the damage, you may get away with a minor fix at a low cost. You simply won’t know how much a repair will cost until some research is done. Check forums for your specific product or the manufacturer’s website for assistance and repair cost estimates.

Check Life Expectancy

You should check the average life expectancy of products before deciding to either replace or repair them. You can check on Consumer Report’s website for information on the life expectancy of appliances and electronics, as an example.

DIY Repair

It doesn’t hurt to try some DIY repairs on your broken items if you check DIY instructions for your specific product. You should avoid any hazardous repairs, but easy DIY fixes should be ok. You can basically save the most money by doing a DIY repair. Just make sure to follow repair manuals as instructed.

Is the Repair Worth it?

 To further assist you in determining if a product should be replaced or repaired, check out the following four things:

1. Quality: Classic or unique items might be worth the repair if it’s a high quality product.

2. Power Cost: If you have a device or appliance that consumes too much energy in comparison to similar products, it might be the right time to replace it.

3. 50% rule: Experts suggest that if a repair cost exceeds 50% of the value of a new item, replacing it would be better.

4. Technology: If you have an outdated device like a computer, consider replacing it based on current technology.

Deciding to replace or repair broken items is a personal choice with many factors to consider like finances, costs, technology, and overall value of the product.  Check repair and replacement costs to make an informed decision. In the end, it all depends on how you feel about the things you own.