Woman buying refrigerator appliance
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Planning ahead can save tons of money and lots of headaches when a beloved appliance finally taps out. By taking a more proactive approach, homeowners can take advantage of special sales to buy the very best appliance possible at the best price.

Don’t wait until you’re headed for the laundromat or without a stove before you buy that much-needed planning. With some careful planning, you can find the best time to buy appliances for your home.

Average cost of new appliances

The cost of a new appliance depends on more than just the kind of appliance you are buying. The price will also reflect things like manufacturer, size, and what types of technology it offers.

The average costs for a new appliance:

  • Refrigerator: $450 to $3,000
  • Gas stove: $350 to $3,000
  • Range hood: $200 to $3,000
  • Oven/Cooktop: $3,000 to $5,000
  • Dishwasher: $400 to $700
  • Microwave: $200 to $500

Washers and dryers can be sold separately, running between $275 and $2,500 each, but the best deals are usually when they’re bought in a set.

The cost of an air conditioning and heating system will depend on what kind of system chosen. Beyond the typical window unit, there are also systems like split air-conditioning and packaged central air. These can vary significantly in price and also incur high installation costs.

Small appliances, like blenders, toaster ovens and coffee makers, can run anywhere from under $100 to several hundred dollars, depending on the brand and features.

In addition to the cost of a new appliance, do not forget to budget for installation costs, which can add significant costs for larger items like refrigerators, washers and dryers.

When to buy appliances

It’s always a good idea to get maximum use out of your appliances, but that doesn’t mean you can’t be prepared. Use the current state of your appliances to develop a plan for their replacement. That way, you not only start exploring your options early – and before the best time of the year to buy appliances — but you can begin saving for them, too.

Check with the manufacturers of your current appliances to obtain an idea of your model’s lifespan and when it might be time to buy a new one.

Most manufacturers release new models in September and October, leaving room for massive savings and closeout sales on previous models. Refrigerators get released in the summer, so spring is typically the best time for deals. Holiday and year-end deals can also be impressive, with both holiday and clearance sales to clear out remaining inventory.

If possible, take the time to shop for a new appliance. Many stores will even offer price matching so that you can get the best deal from your favorite store.

Tips to save on new appliances

Don’t forget about warranties. This can add more to your final bill, but it will save you hundreds, if not thousands, of dollars on a replacement when you can use your policy instead for repair.

New energy-efficient technology can cost more upfront, but these machines are designed to save money on utilities in the long-run.

Refurbishing and liquidation centers often have fantastic deals with machines that have been professionally repaired or are leftover from liquidation and overstock sales.

Minor imperfections like a small scratch or dent can translate to big savings on your new appliance. Stores will not offer these items for regular sale, so you may be able to grab one of these machines for cheap. It may not look perfect, but it will still do the job.

You also have the option to purchase a used machine from sites like Craigslist, Facebook Marketplace, and Letgo. You buy at your own risk because there are no warranties or returns, but many people report fantastic deals from these sites. Installation, however, is your responsibility.

New appliance financing options

Not everyone has thousands of dollars to drop when an appliance breaks, and you can’t exactly wait when you have a broken refrigerator full of groceries that are going to spoil. You also won’t want to wait for next month’s paycheck when your home is nearing 90 degrees Fahrenheit in the summer, so financing can be a lifesaver.

Personal loan

A personal loan is usually an unsecured loan, meaning collateral is not needed to guarantee the loan, and terms typically range from 24 to 60 months. You will, however, need to show good credit to prove your trustworthiness.

Home equity loan

If you have less than stellar credit or you simply prefer to use a secured loan, you can use a home equity loan to finance new appliances. A home equity loan delivers funds in one lump sum, so you can use them to put your shiny new appliance and then pay it off over time with interest.

Home equity line of credit

A home equity line of credit (HELOC) uses your home’s equity to give you a loan, but instead of just one loan, this gives you a revolving line of credit that works much like a credit card. You will have a certain amount of money available, and as you pay off your loan, those funds then become available.

The bottom line

Knowing the difference between a good loan and the right loan can save a ton of money in the long run. If you are just buying a washing machine that you are going to install yourself, a personal loan might be the best bet for you. On the other hand, if you are planning to renovate your entire kitchen, a home equity line of credit could provde the funds needed for several purchases.

The best thing to do is to plan. Don’t wait until an appliance dies. If you find your refrigerator running warmer than usual, or your food is not cooking properly, begin the buying process now.