We rely on household appliances to make our lives more convenient and comfortable. However, when these essential items start to show signs of wear and tear or break down altogether, it can leave homeowners facing a tough decision: repair or replace? While repairing may seem like the most cost-effective option in the short term, it's essential to consider factors such as the appliance's age, condition, repair costs, and expected lifespan. As a general rule, if an appliance is more than halfway through it's expected lifespan and the repair is more than 50% of the cost for a new one, you should consider replacing it. Additionally, if the appliance is not energy efficient, upgrading to a newer model could lead to long-term savings on energy bills.

Below is a guide to help you to determine the lifespan of major appliances in your home:

1. Refrigerator: Expected Lifespan: 10-15 years

2. Washer and Dryer: Expected Lifespan: 10-15 years

3. Stove: Expected Lifespan: 10-15 years (Gas tending to last a little longer than electric)

4. Dishwasher: Expected Lifespan: 8-10 years

5. Microwave: Expected Lifespan: 9-10 years

6. HVAC System: Expected Lifespan: 15-20 years (for central air conditioning and heating systems)

7. Water Heater: Expected Lifespan: 8-12 years (for traditional tank water heaters, 20-25 years for tankless)

When faced with the decision to repair or replace a household appliance, it's essential to weigh the costs, age, and condition of the appliance against the benefits of investing in a new, energy-efficient model. While repairing may offer a temporary solution, replacing outdated or inefficient appliances can lead to long-term savings on energy bills and maintenance costs. Taking care of your appliances by regularly cleaning and maintaining them can also go a long way in preventing premature issues.