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When Should You Replace and When Should You Repair?

Being a homeowner is a nice feeling; you have a place that you can call your own and you don’t have to pay any rent every month.  Indeed, you may have a mortgage loan to pay off, but at least the place is yours now and you can do to it whatever you want and however you want. There is no landlord over your head to add to your troubles. So while all this is good, there are instances when you may have to face additional costs which are not involved in tenancy. Most of these are related to repairs and replacements, which can accumulate to significant numbers many times.

According to a survey, nearly 83% of homeowners prefer a repair over replacement. This does mean less expense wise, but is still not always a best choice. When repairs become frequent, you are better off with a replacement.  So how do you decide what to do and when? Here is what the industry experts have to say.

Kitchen Cabinets

Should you remodel your kitchen? If you have lived in your home for a long period, this can be a good option, providing you with a new, fresh look. What about those old cabinets? A representative at a remodeling company told us that re-facing is an option for when you are not changing the layout or dealing with a tight schedule. However, if you want to completely remodel your kitchen, you can opt for replacing the cabinets. Just bear in mind that this is close to three times more expensive.

Exterior Siding

Ever found a loose piece of siding? This often happens when there is a severe storm. So what should you go for; repair or replace? If the sidings have loosened up from their places or are slightly damaged, you can go for repairs. However, if there are missing pieces, replacement can be a better idea because you may not find the same style or color in the market.

Water Heater

Does your shower not provide you with enough hot water or with water that is not hot enough? You might need to do something about the heater then. An electric water heater requires around $250 for repair, whereas replacement costs around $600 to $700. If you have used the appliance for over 15 years, go for replacement, otherwise you can do with a repair at half the costs.

Source: www.realestate.msn.com

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