Is your refrigerator aging? Perhaps it’s no longer offering quality service like it used to. Once you notice your refrigerator’s functionality diminishing, scheduling it for the best appliance repair service goes a long way in restoring your appliances top-notch performance. However, if you’re looking to upgrade your refrigerator, then it’s time to dispose the old one. Dumping it in the basement will only leave you with scrap metal that you still have to dump someday. Instead, consider selling the used refrigerator. You could use the extra cash to pay off for the new. Here are the factors to consider selling your refrigerator.
Feasibility
Typical refrigerators come with a 10-year lifespan with high-end ones offering up to 20 years of service. Determine how old your refrigerator is before reselling. Refrigerators less than 8 years old will sell quickly. Normally, potential buyers tend to avoid refrigerators older than 10 years as they tend to consume twice as much energy as newer models.
There are other factors to consider when thinking about reselling your fridge with the aim of upgrading. For instance, selling built-in refrigerators may require you to hire professional appliance services to safely uninstall it. Also, upgrading to a new refrigerator could compel you to rethink the entire kitchen layout, especially if you are upgrading to a larger model or an in-built one. Ensure you draft an entire plan with a feasibility report to determine if it’s worth it.
Its value
Before you decide to resell your refrigerator, you need to determine its value. High-end refrigerators usually last longer than others. This is because manufacturers invest in the best hardware for those specific models. They also come with special features such as French doors, which are not found in other refrigerators. This makes second-hand high-end refrigerators easier to sell as they offer more value to potential buyers.
Unfortunately for mid and entry-range refrigerators, getting value from a resale depends on its state. Broken parts, busted mortars, and leaking ice dispensers devalue a refrigerator. Hiring a professional appliance expert to fix the refrigerator should improve its resale value. You, however, need to determine the return on investment (ROI) before deciding if repairs are a viable option.
The market
To fetch a high ROI, sell the refrigerator in markets with a better chance of fetching high value. Local newspaper classifieds, used appliance stores and online shopping platforms such as eBay and Craigslist tend to fetch better resale value as compared to garage sales, thrift shops, and flea markets. Some manufacturers offer trade-in deals for old refrigerators. A trade-in deal, however, limits you to upgrade to a newer model only from the same manufacturer.
Also, consider the time period of the planned sale. The market purchase power varies depending on the time. Studies show that people are more likely to buy a used refrigerator in the first week or the last week of the month and during the period leading to big public holidays such as Thanksgiving.
Evidently, reselling your refrigerator for an upgrade requires adequate planning. Consider hiring a home appliance specialist for professional input on both the sale and the upgrade.