Ever been in this situation? You’re about to start cooking dinner — you gather all of your ingredients, you begin working on the recipe, everything is going great until you try to turn your stove on, and it won’t heat up.

Appliances can be costly to replace, but sometimes repairing them can make nearly as big a dent in your bank account. What to do? If you aren’t sure whether to repair or replace that broken-down oven or washing machine, Bruce Sellery shares some helpful tips.

There are two major things to consider when making this decision:

1. Time: You should consider how long you’ve had the appliance for. The benchmark is four years — older than that, and you’ll want to give serious thought to replacing rather than repairing.

2. Cost: If the repair cost (including parts and labour) is going to be more than 50% of the value of your appliance, scrap it.

Bruce’s tips on buying an appliance:

• Go for “good enough.” If you’re in the market for a new stove, but you’re not a huge home cook, do you really need that top-of-the-line range with all the bells and whistles? Probably not.
• Consider a floor model for appliances that do not play a significant role in the aesthetic of your home. For example, you may want to spend more on a (highly-visible) stove, however, an appliance such as a washer or dryer will most likely be behind a closet or in the basement, so a floor model would be appropriate.
• Pay more for items you will use daily; this saves time. If you’re a coffee drinker, spend a bit more for a good name-brand appliance that will last you years (rather than a bargain brand that could break down within months).
• New appliances tend to be more high-tech, with intricate features that can be harder to repair. Look for items that cover the basic functions, and be wary of brands with complicated features that might break.
• Are you a confident DIYer? Try watching DIY repair videos before calling a professional — perhaps the problem is one you can troubleshoot yourself.

When to buy appliances, if you have the luxury of time:

• September and October are the best months — new models are released around this time, which means older models will likely be on sale.
• Holiday weekends — these are usually when retailers put sales on.
• If you shop online, you can get deals at all different times of the year.
• When you go into stores, many sales people have maneuvering room. Don’t be afraid to haggle and ask for discounts.
• Shopping on weekdays is a plus because employees have more time to help you.
• Shop toward the end of the month — retailers want to meet their quota at this time, so you are more likely to get a discount if you ask for one.