In general, homeowners must follow the “fifty percent” rule, which simply means that if their appliance lasts more than 50% of its lifespan or the repair of the appliance is going to cost more than 50% of what it would cost to replace it, then replacing the appliance is often the most cost-effective. The 50% rule helps determine if repairing or replacing a broken appliance makes more financial sense. Suppose that the cost of repairing an appliance is estimated to be more than 50% of the cost of buying an equivalent new appliance. In this case, it may make more sense to buy a replacement. If you can afford the difference in cost, it might be worth replacing a vital appliance instead of waiting for it to be repaired.
It might also be worth repairing a cheaper appliance if, in return, you get several more years of use, he says.
