Is it cheaper to have your own washer and dryer?
Owning a washer and dryer might seem like a luxury, but when you crunch the numbers over time, it could be a financially savvy move—especially when compared to laundry machine rentals or trips to the laundromat. Let’s unpack the real costs, the hidden perks, and the trade-offs you might not have considered. Is it actually cheaper to own a washer and dryer? In most cases, yes—owning is cheaper in the long run. But it's not black and white. Here's a quick breakdown: Option Upfront Cost Ongoing Cost (per month) Total After 3 Years (est.) Owning (new) $1,500–$2,000 ~$10–$20 (energy/water) ~$1,860–$2,720 Owning (used) $300–$800 ~$10–$20 ~$660–$1,520 Renting $40–$80 Included in rental fee ~$1,440–$2,880 Laundromat $6–$10 per load $50–$150 (avg. use) ~$1,800–$5,400 While renting may look affordable up front, it typically ends up more expensive over a few years. The tipping point is usually around 12–18 months, depending on your washer-dryer usage and rental terms. What are the o...