The brand and model of your refrigerator can significantly impact its resale value. Premium brands like Sub-Zero or Viking tend to retain their value better than less expensive brands. High-end brands: often maintain higher value due to durability and advanced features.
Adding a built-in refrigerator to your home improvement plans not only boosts your kitchen's appeal but also draws in potential buyers who value the added convenience and worth these appliances bring.
For an old refrigerator, you can expect to earn around $15 to $30 at a scrap yard. However, be aware that not all scrap yards will accept refrigerators.
While your old refrigerator may still look good and work well, if it is more than 15 years old, it's more than likely using a significant amount of energy -- in fact, more than twice the energy of a new ENERGY STAR certified model.
Depreciation per year: $750 / 15 years (expected lifespan) = $50 Life left: 15 - 5 = 10 years Value: 10 years x $50 = $500 If the refrigerator is in excellent condition and there's high demand in your area, you might price it around $500.
According to the 23rd annual portrait of the U.S. appliance industry, standard refrigerators usually last anywhere from 10 to 18 years, with an average life expectancy of 14 years. Compact refrigerator lifespan is even shorter, ranging from 4 to 12 years with an average life expectancy of 8 years.
To qualify for $50, the unit must be 10 to 30 cubic feet in size. To receive $20, the fridge or freezer must be under 9.9 cubic feet. Use our convenient measurement tool on this page to see if your refrigerator or freezer qualifies for appliance recycling.
Water heaters and other appliances that use plumbing for operation are especially worthy of collecting for scrap metal purposes. These types of appliances tend to feature valuable components that are in high demand, such as copper pipes and copper wiring.
You can determine a fair price for a used appliance by following a three-step formula: Initial purchase price / estimated life cycle of the appliance = Depreciation per year. Life cycle of appliance – Age of appliance = Life left in life cycle. Life left in life cycle X Depreciation per year = Fair price.
Depreciation schedule for appliances
Refrigerators depreciate at 10% pa in the Prime Cost schedule or double that (20%pa) in the Diminishing value schedule. Bar fridges and some smaller refrigerators may cost less than $1,000.
While some homeowners prefer selling a house without a refrigerator or other appliances, most people do include them in the sale. This is especially true if their new home includes them. Others may leave them if the appliances are older or if they don't want to go through the trouble of moving them.
Stainless steel is the standard. If you still have white appliances from the 1970s, it will be difficult to get top dollar for your home.
What appliances can stay? You can leave any appliance that is attached to the house. This is true for things like bathroom and kitchen fixtures and anything on the fireplace. Other appliances you may leave behind include smoke alarms, monoxide monitors, and security systems.
The five common household items that should be checked regularly for potential repairs before they break down completely are the refrigerator, washing machine, water heater, and air conditioning units.
Any size, brand, type, and age of refrigerator will have recyclable materials. Cohen will anything from mini-fridges to full, modern, double-door refrigerators. The larger refrigerators will typically provide you with more value for your scrap, due to the fact there is simply more valuable metal and plastic.
Radioactive and hazardous materials should never be recycled to the same standards as metals. That's because if a scrap yard melts any radioactive metal without knowing, it will end up contaminating the rest of the metal, the equipment that is used during the recycling process.
When you compare the embodied energy of a new refrigerator and the associated carbon emissions to the operating costs of an old refrigerator, it makes little sense to keep a fridge older than about a dozen years.
A scrap dealer, processor or recycler like Cohen can buy your old appliances at a scrap recycling center near you. Pricing changes at least monthly, based on the market values of metals, so call ahead and ask what they are paying for mixed iron if you'd like an estimate.
Which refrigerator brand is most reliable? All three of the appliance experts we spoke to for this roundup said Whirlpool and LG were the most reliable refrigerator brands due to their durability, reliability and ease of repairs. Samsung and GE were also mentioned by our experts as high-quality fridges.
If your 20-year-old fridge has been running well, and only needs minor repairs once in a while, then it is worth keeping it, instead of replacing it. Though, if it ends up needing a major repair, then you should think about replacing the fridge.
Our Top Pick: LG produces excellent refrigerators that perform well in our tests and receive high satisfaction ratings from consumers, including our survey participants. The Smart French Door Refrigerator with Dual Ice Maker stands out for its simple, user-friendly design and customizable features.