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It depends. Use the “50% rule” to help you decide. For example, you should consider replacing the appliance if it is halfway through its lifespan and the repair will cost more than 50% of the price of a new one. Contrary to popular belief, repairing a major appliance is more wallet-friendly than purchasing a new one. While the cost of new home appliances can run as high as $8,000, the average cost to repair them is $170. If the appliance you’re trying to get rid of isn’t too old, consult a local appliance repair expert to see what can be done to restore it.

Refinishing an appliance is often less expensive than buying a new appliance. But if your appliance is heavily dented, refinishing it won’t cover that damage. Also, for old appliances that aren’t in good working order, a coat of paint won’t help. It’s a safer long-term solution to replace old, faulty appliances

You might also consider refinishing your appliances if you want to achieve fun colors. For example, you might not be able to find a cobalt-blue refrigerator for the funky, retro kitchen of your dreams, but refinishing the fridge can help you achieve that aesthetic.

Small appliance repair costs around $150 on average, but you could pay between $50 and $400 for your repair, depending on the type of appliance, the brand, availability of the replacement parts, and the extent of the damage. Here are some average repair costs based on the type of small appliance:

• Microwave: $250

• Toaster: $150

• Blender: $150

• Food processor: $150

• Garbage disposal: $175

• Coffee maker: $100

• Range hood: $200

• Countertop ice maker: $125

• Wine fridge: $225

Kitchens often see refrigerators, ovens, and dishwashers commonly refinished due to high visibility and frequent use impacts.