Modern-day appliances just don’t last as long as they used to. In fact, four in five homeowners said they plan to replace an appliance this year, according to American Home Shield. The homeowners report said they expect the cost of these appliances to be thousands of dollars.
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Although appliances are expensive, there are several ways to save money on the cost. The time of year people purchase appliances matters, as well as the number of appliances they purchase at once.
Here is when homeowners should plan to buy new household appliances (and when they should absolutely avoid it).
Best Times To Buy
According to a U.S. News & World Report, the best time to buy appliances is at the beginning and end of the year, as new models typically arrive in November. For this reason, retailers often try to clear out old stock at a discount before new pieces arrive.
Consumers can also get good deals during specific holiday sales such as Presidents’ Day, Memorial Day and the Fourth of July. The popular savings website The Krazy Koupon Lady reported that appliances at Home Depot are the lowest during Black Friday sales.
During these sales, homeowners can often purchase appliances for 20% to 50% off retail prices. For expensive items like appliances, these discounts can translate to hundreds or thousands of dollars of savings.
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Extra Savings Tips
In addition to knowing the best time to shop for appliances, here are a few other tips that can help consumers save, especially if they need to purchase appliances in the middle of the year, which is the worst time to buy.
- Shop secondhand: Many people sell their appliances on Facebook Marketplace and other resale websites because they’ve upgraded to newer models. As long as consumers can confirm the appliances work, this is one way to get appliances at a deep discount.
- Shop floor models: The Krazy Koupon Lady noted that after big sales, all the display appliances at Home Depot go on sale. These are floor models or scratch and dent models that are new, yet have been out for customers to look at for months.
- Bundle purchases: Many major retailers, like Costco, offer discounts and credits when customers buy multiple appliances at once. This is helpful for those building a new house or renovating one.
Ultimately, appliances are one of the most expensive items homeowners have to purchase, and maintaining them is costly. For that reason, it pays to shop around and save as much as you can initially, even if you have to wait until the end of the year to get the best deals.
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This article originally appeared on GOBankingRates.com: Don’t Buy New Appliances Yet — The 2 Best Times To Shop Are Approaching Fast
