Repair or replace? Jean Chatzky shares what to do when costly home items break.

Do you have the sinking feeling your home is starting to fall apart? It may or may not be time for a new kitchen or laundry room appliance. The financial editor of TODAY, Jean Chatzky, has some important thing to consider about kitchen and laundry room appliance repair versus replacement when there is a breakdown.

Replace the refrigerator

Refrigerator repairs can often be very expensive, sometimes exceeding the cost of a brand new refrigerator. With newer models of refrigerators being far more energy efficient, it can be more economical to buy new. For example, replacing a 1999 model refrigerator with a new Energy Star model could save more than $300 over five years of use.

Replace your 10-year-old dishwasher

Is your dishwasher more than ten years old? If it breaks, skip the repair and go for the replacement. Most dishwashers have a nine year average lifespan, and you probably have already gotten as much life out of it as you can. If you buy an Energy Star dishwasher, you could pay as little as $400, while most repairs will be $250 or more.

If you do not have an automatic dishwasher, you should probably get one, if only for the financial effectiveness. Chatzky has figures that show hand washing of dishes costs $754 over ten years, while the ten year cost of running a dishwasher at $323.

Repair a 5-year-old electric dryer

If you have a five year old dryer, it has not yet hit the half way mark towards its average lifespan; it has plenty of life left in its thirteen year average lifespan. Typical dryer repairs are around $200, while a new dryer is often in the $600 range. Often problems with dryers can be cleared up by cleaning and clearing the dryer venting system, something in the skill set of most homeowners.

Call (770) 604-1699 to schedule an appliance repair appointment.