Letting go of possessions you’ve owned for a long time can be hard. It can feel like you’re saying goodbye to an old friend. However, there always comes a time when it makes far more sense to replace something rather than repair it.
Whether you’re exploring repairs versus replacement for a business or personal purchase, here’s how to know it’s time to go shopping:
Repairs Cost More
If you’re weighing up the pros and cons of buying a new or used machine for your business or keeping the one you currently have, consider repair costs. For example, you might compare grape harvesters for sale and their costs to what it would cost to repair your current grape harvester.
If repairs cost more than 50% of what you would spend replacing it, replacement is usually the better choice.
It’s Past Its Expected Lifespan
Nothing lasts forever, no matter how well you care for it. Whether it’s a machine, furniture, or your favorite garment, you will eventually need to replace it. If something you own is nearing or past its expected lifespan, replacement can be better than repairs, depending on the item.
For example, you may be less likely to repair your 10-year-old refrigerator when the United States Department of Energy says they only last an average of 12 years. Repairing it will still mean you’ll need to replace it in the near future.
It’s Not Efficient or Performing Well
Repairing something doesn’t mean it will work as efficiently or perform as well as it used to. For example, patching your favorite pants may extend their lifespan, but they won’t look or feel the same as they once did.
Older technology can also fall into this category. Old appliances and electronics can cost more to operate and be less efficient, making replacement often a more worthwhile option.
You’re Struggling to Find Parts
Manufacturers don’t always produce parts for all their products forever. After several years since they last sold something, they can eventually phase out parts production because there’s no demand for them. As a result, it can become harder and harder to find parts to repair your appliances, machines, and electronics with. In the end, you have no choice but to purchase a new or used item.
You’re Repairing Something Too Often
Reliability is important when you have a machine, electronic, or appliance for business purposes. Even for home use, you want everything you own to serve its purpose well. As things get older, you can find yourself repairing them more often than not.
Multiple repairs can become costly, especially if you have to hire an expert. Replacement can quickly become a more economical option.
It’s Not Safe
Safety can be a significant concern when you have older appliances, equipment, and electronics. Alongside the risks of hazardous materials like asbestos that were once commonplace in manufacturing facilities, you also have to consider wiring and a lack of safety features.
If you notice safety risks like frayed electrical wiring, outdated safety standards, and structural weaknesses, replacing them sooner rather than later can be crucial. The longer you own such an item, the more at risk you and other users can be.
The sad reality is that our possessions don’t last forever, as much as we would like them to. If you’re unsure whether you should repair or replace a business or personal possession, consider these factors above. They may just make the decision-making process much more manageable.
