All the Hacks with Chris Hutchins cover image

25 Money Rules (and When to Break Them) with Brian Feroldi

All the Hacks with Chris Hutchins

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*Rule for replacing appliances *

The 850 rule provides a straightforward guideline for deciding when to replace major appliances. If an appliance is eight years or older or if the repair cost exceeds 50% of the replacement cost, it's advisable to buy a new one. This approach streamlines the decision-making process by encouraging homeowners to consider both the age of the appliance and the costs involved in repairs versus replacement. By obtaining an estimate for repairs and comparing it to the replacement cost, homeowners can make informed and efficient decisions, minimizing unnecessary debates over whether to repair or replace.

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