Posted by Mike Smith :: May 18, 2009 @ 6:51 amAs families look to stretch fewer dollars further, the will – and perhaps the need – to get more out of things they already own rises as well. While it’s certainly noble to make some repairs yourself, or employ a professional, the repair versus replace debate actually becomes more difficult when you practice other frugal habits.
Repairing a worn out item that you bought new at full price might make sense if you would replace it with a similar purchase. If you were to find a significantly discounted replacement at a local thrift store or use a combination of sales and coupons, repair may not actually save you any money. Spending $25 to repair a $100 pair of shoes seems like a smart move unless you got those shoes for $5 second-hand. Should you base your decision to repair or replace based on the worth of the item or the price you paid? Is the repair cost versus replacement cost a better metric for making the decision?
Another factor is that repairing traditionally has the added benefit of not creating the waste of discarding your current item, but that too may be more complicated depending on your lifestyle. If you plan to donate your item, rather than discard it, you aren’t really wasting the current item. Also, replacing it with another used item (that’s either in better shape or a better fit for your needs) doesn’t require a new product to be produced.
With frugal and environment-friendly lifestyle choices, the debate between repairing and replacing items gets more complicated. Though it might be more difficult to make a decision, the good news is that both choices are probably good ones. Either choice has the potential to be cost-effective with limited waste, meaning that you really can’t go wrong.
How do you decide whether to repair or replace an item?
2 Comments
Usually, when the repair option is found to be too expensive, it's due to labor. My washing machine (aging model, out of warranty, a leftover from when we bought the house) recently died, and I was looking at $100-$200 to have it repaired.
Financially, I can easily afford this. However, giving up so easily offended my engineering sensibilities. So I decided to give it the old college try. A few hours later, I discovered the errant sock which had jammed and damaged the drain pump. A quick web search and $30 later, and I had a working washer again. Even better, I learned a lot about the innards of a washing machine.
Personally, I think we, as a nation, need to learn more about how things work and take less for granted, but that's probably a soapbox for another time.
That said, this strategy has backfired on me occasionally. The first time I had to replace the brakes on my car, I also gave it the DIY try. The front disc brakes were easy. A day later, though, and the rear drum brakes still didn't fit right, and I still seemed to have parts left over. Finally realizing I was out of my depth and risking safety, I swallowed my pride and shelled out $300 for the tow and repair shop work to fix the horrible mess I had made.
Most expensive DIY job ever.
One other consideration is the efficiency of the new item vs. the old item. For example, if your fridge or washer are more than 5 years old it's probably worth replacing them for the cost in electricity.
Leave a Reply