What are some of the key factors to consider when deciding whether to repair or replace a component of your home, and how do you make this decision?

ANSWER: When deciding to repair or replace a home component, consider its age, efficiency, and repair history/cost. If the item is near the end of its expected lifespan, frequently breaks down, or repair costs are more than half the cost of a new one, replacing is often better. Factor in potential energy savings with newer, efficient models. For less severe issues or newer items, repairs might be more cost-effective. It's also essential to consider safety; if there's any risk involved with repairing, replacement might be the best option. Assess the long-term benefits and costs of each choice.