When to Replace Your Household Appliances

When Is the Best Time to Replace Appliances

While replacing appliances isn’t always fun, unfortunately it’s sometimes necessary. The more you know about home appliance lifespans and when to replace them, the better prepared you will be.

Most appliances, from dishwashers to water heaters, last 10-15 years. Of course, this depends on the type of appliance and how often it’s used. For example, microwaves and other frequently used small appliances may need to be replaced within 8-9 years. Keep in mind though, even longer-lasting appliances have smaller components that will probably need repairs during their lifespan.

When to Replace Appliances

So how do you know when you should replace a component or when you should replace appliances entirely? It comes down to two major considerations:

  1. The average lifespan of the appliance

You may be able to fix a broken component on an older appliance, but many times that’s just the beginning of the issues.  However newer appliances may have many good years left. If you have a two-year-old refrigerator, it is probably worth replacing a single part. However, if your refrigerator is nine years or older, you’ll probably save money in the long run by replacing it, especially if the new part is costly.

  1. The cost of the faulty component.

Parts can be pricey, never mind the specialized labor often needed. Between a new component and cost of labor, you may be better off buying a new appliance. Make sure you get an estimate on both, so you can make an informed decision.

The Best Time of Year to Buy New Appliances

Appliance manufacturers have set times throughout the year when they introduce new products. To make way for these new products, retailers often mark down their current appliance stock. If you can plan your purchase around new product launches, you can often get incredible discounts on new appliance purchases.

Given the product schedule for many large and small appliance brands, here’s the best time to buy new appliances, based on the machine type and the time of year:

  • Refrigerators: May
  • Washers and dryers: September or October
  • Small appliances: November or December
  • Ranges or ovens: January
  • Dishwashers: September or October
  • HVAC appliances: Spring or Fall[1]

Of course, the right time for you to purchase a new appliance may not match with the above dates. For example, you should consider replacing appliances if the ones you have aren’t meeting their own standards. If your washing machine isn’t getting clothes clean, or if your dishwasher is leaking water, it’s time to go shopping.

Additionally, inefficient, or wasteful appliances can be costly in the long term and should be replaced. The same goes for if your machine is smoking or there’s a safety hazard – these should be replaced immediately, whether there are retail sales or not.

Should I Buy New Appliances Before Selling a House?

A good time to think about buying new appliances is before you put your house on the market. As a seller, investing in new kitchen or laundry appliances can add extra appeal for incoming buyers. It can also make your space feel updated. Overall, new appliances send a message to your buyers that you’ve taken good care of your property’s needs.

As a buyer, if your new home needs updates to appliances, there’s no better time than the present to buy new. Moving a new appliance in along with the rest of your packed things is much less disruptive to your daily life than waiting to buy.

Paying to Replace Appliances Unexpectedly

The need for new appliances doesn’t always happen at the most convenient times. If you’re in a financial emergency, LendNation can help.

Through LendNation’s online application process, you might be able to secure your online payday loan within minutes from the comfort of your own home. Not sure whether a cash advance or payday loan is the best solution for you right now?  Talk to an advisor at a LendNation location near you to learn more about options for your unexpected appliance purchase.