Buying new appliances is fun. It’s always nice to add something new to your home! At the same time, no one wants to spend a lot of unnecessary money on refrigerators, ovens, and air conditioners.
The truth is that buying new appliances might not cost as much as you think. In fact, you could even end up saving money by replacing your old items.
If you’re not sure whether you want to add new appliances to your home, consider these three financial benefits.
You Can Lower Your Monthly Utility Bills
Today’s appliances are much more efficient than those made just a decade or two ago. According to the United States government, refrigerators made in 1974 used about 1800 kWh per year. The ones made in 2008 only use about 500 kWh per year.
Despite the improved efficiency, refrigerators have gotten larger and more affordable.
Old appliances can also start to become less efficient over time. The central air unit you bought 20 years might have worked great then, but the last two decades have taken a toll on it. You’re probably spending more money on utilities than necessary.
If you decide to get a new air conditioner or furnace, make sure you have a professional like the people at Keith Air Conditioning install it for you. The installation’s quality affects how efficiently the unit works. Since you want bigger savings, it pays to hire a real pro.
You Could Get Rebates
Retail stores know that they have to compete to get more customers. They can only lower their prices so much, though. After that, they usually offer rebates that can save you more money without taking profits from their businesses.
Whether the rebates come from a manufacturer or government agency, they can help you save hundreds of dollars on what you buy.
Energy Stay has a rebate finder that will help you find deals in your area. Before you commit to any new appliance, use it to make sure you are getting the best price.
You Can Get Tax Deductions
Image via Flickr by Rich Anderson
You could try to sell your old appliances through Craigslist or a similar website, but that usually means letting strangers into your house. It’s not a very secure way to get rid of those aging appliances.
Instead of letting potential thieves into your home, you can done your appliances to a charitable organization like Habitat for Humanity. If Habitat for Humanity can’t use your appliances in the new homes they build, then they can sell them at their ReStores. Sales go to fund future projects.
Since you donated to a non-profit, you can take a deduction when you do your taxes. Even if that old refrigerator is only worth a couple hundred dollars, at least that’s money you don’t have to give Uncle Sam.
Buying new appliances might seem expensive at first. When you shift your perspective, though, you will often find that spending a little money today can save you a lot of money in the future.