Repair or Replace? – The Secret Financial Formula
It’s the middle of summer and your air conditioner is getting plenty of use. But, you’ve noticed that it’s just not running as well as it used to. Maybe your energy bill has been higher than normal, or the AC runs longer than it used to. Now comes a decision that’s always difficult to make when it comes to appliances: should you repair your air conditioner, or replace it entirely? The team at Getzschman Heating and Air Conditioning knows that this is one of the biggest homeowner struggles. Which one makes the most financial sense? Well, wonder no more! Use this simple formula to help you make the smartest decision.
Related Read: 5 Unusual Noises Your AC Can Make & What Causes Them
The $5,000 Rule
We here at Getzschman Heating & Air Conditioning we have a simple method that we use to determine what the best course of action is in this situation. We call it the $5,000 rule. Take the age of your AC unit and multiply it by the cost of repair. If the final figure is more than $5,000, then it’s a better value to just buy a new one. Otherwise, repair is a great option for a poorly functioning unit.
Putting the Rule to Action
For example, if you’ve had your air conditioner for five years and repair costs around $600, 5 x $600 = $3,000. That’s well below $5,000, and therefore a repair is in order. On the other hand, if you’ve had your AC unit for 15 years and repair costs $450, your resulting total is $6,750 and you should probably just buy a replacement.
Related Read: The EPA’s Ban on Freon
Getzschman Heating & Air Conditioning Can Help
If you’ve noticed higher energy bills, more indoor humidity than normal, an AC that never stops running, or have had to schedule repairs or Freon replenishment annually for the past three years, it’s time for you to decide to repair or replace. Contact us at Getzschman Heating & Air Conditioning for a free quote on the cost of service and try the $5,000 test for yourself.