If you own an older air conditioner, an unexpected failure may leave you deciding whether to fix the equipment you already have or replace it with a new system. As both repair and replacement have their upsides and downsides, the right choice for your home and family depends on the age of your system, its efficiency and your current financial situation. Taking the short- and long-term costs of each option into account will help you choose correctly.
Counting the Cost of Repair and Replacement
The decision to fix or replace your air conditioner is not entirely financial, but cost is front and center among the concerns it raises. In general, the higher the cost of repairs relative to the cost of replacement, the more financially reasonable it is to get a new machine instead of fixing the old machine. The repair cost, of course, varies greatly depending on the situation. If the air conditioner just needs a few minor adjustments, the repair will likely be inexpensive, but if it needs several replacement components, it may be more economical to just replace the entire machine.
After finding the difference between the cost of repairs and the cost of a new machine, consider the age of your existing equipment. If your air conditioner is already eight or more years old, repairs are probably unwise unless they are extremely inexpensive. The machine is probably nearing the end of its useful lifespan anyway, and a repair now will likely only give it an extra year or two. On the other hand, air conditioners that are less than a year old are usually worth fixing unless the cost of repair exceeds the cost of replacement. For air conditioners that are around the middle of their effective lifespans, consider the ratio between the cost to fix and the cost to replace. If the repairs will cost more than half the replacement, the latter is probably your best option.
Improving Energy Efficiency
One of the biggest advantages of investing in a new air conditioner is improved energy efficiency. You may pay a little more to upgrade now, but if you replace your existing model with a more energy-efficient machine, the long-term savings will likely offset the cost of installation. For instance, if it costs $400 more to get a new system that is projected to save you $30 monthly on your utility bills, the new machine will pay for itself in just over a year. Keep these savings over time in mind when deciding whether to fix or replace your air conditioner.
At Indoor Solutions, we repair and replace all makes and models of air conditioners throughout the Auburn GA area. Our air conditioning experts will work with you to assess the damage to your current system and show you the short- and long-term cost differences between repair and replacement. If your air conditioner is failing, give us a call right away to discuss your options.