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 |
What are the ongoing costs of owning a washer and dryer?
Here’s where things get a little nuanced.
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Electricity/Gas Use: Dryers are the big power draw. Expect $0.75–$1.50 per load in energy costs unless you’re using a high-efficiency heat pump dryer.
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Water Usage: Front-load washers use less water than top-loaders. If you’re on a water meter, this matters.
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Maintenance: Cleaning lint traps, replacing hoses, or the odd repair—budget $50–$100 annually for peace of mind.
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Detergent & Extras: A few bucks a week depending on brand loyalty and how scented you like your linen.
Over time, these costs tend to be significantly lower than repeated laundry runs or laundry machine rentals.
Are laundry machine rentals ever worth it?
Yes, but only in specific scenarios:
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Short-term living: Moving often or living in a sharehouse? Rentals save you the hassle of transport, setup, and resale.
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Cash flow constraints: If a $1,200 upfront cost just isn’t viable, $50/month can feel like a smoother ride.
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Maintenance included: Some rental companies include full-service maintenance and swap-outs for faulty units, which lowers your risk.
But here’s the kicker—many renters end up paying for the machine several times over without ever owning it. It's a bit like leasing a car indefinitely. And if you're trying to save in the long term? Not ideal.
What’s the cost of not owning?
Let’s talk about the “invisible” costs of relying on laundromats or shared facilities:
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Time: A 3-hour weekly roundtrip adds up—roughly 150 hours a year you could’ve spent doing literally anything else.
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Privacy & hygiene: Anyone who's found mystery lint or leftover tissues in a communal dryer knows the pain.
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Flexibility: Midnight laundry during a heatwave? Not happening at your local laundromat.
And if you're the type who washes small loads frequently—sheets, gym gear, kid’s clothes—the costs can pile up even faster.
Are second-hand machines a good idea?
Definitely. Facebook Marketplace, Gumtree, and local appliance stores often have near-new units for half the price. Many were used in short-term rentals or showroom displays. Just be sure to:
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Check model reviews: Some brands last longer than others (hello, old-school Electrolux).
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Inspect hoses and drums: Look for rust, leaks, or bad smells.
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Test before buying: Ideally with a load of towels.
It’s a bit of a gamble, but one that often pays off—especially if you’re mechanically minded or don’t mind a DIY fix.
Do washer-dryers combos save money?
Not really. They’re compact and handy for small spaces, but:
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They tend to cost more upfront
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Drying cycles are longer and less efficient
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Repairs are more complicated (and pricey)
They’re a great compromise for apartments or solo living, but not the most cost-effective over time.
Are there any non-financial perks to owning?
Absolutely. There’s something grounding about having your own laundry setup. You control the products, the timing, the temperature—everything. No waiting, no queues, no lost socks mysteriously finding new homes.
Plus, for families or pet owners, the convenience can’t be overstated. When your toddler gets creative with spaghetti sauce or your dog discovers mud puddles, immediate laundry access is a life-saver.
FAQ
Q: Is it worth repairing an old washer/dryer?
If the repair cost is under half the price of a new machine—and it’s not over 10 years old—it’s usually worth fixing.
Q: How long do washers and dryers last?
On average, 10–15 years with regular maintenance. Dryers tend to outlast washers slightly.
Q: Do new models save more money?
Yes. Energy Star-rated appliances can cut electricity and water bills by 20–40% compared to older units.
In the end, while owning a washer and dryer does come with upfront costs, the long-term savings—and the lifestyle benefits—often outweigh the alternatives. And if you're currently weighing up rental options, this comparison of laundry machine rental costs might help ground your decision.
If nothing else, it’ll make you think twice next time you’re feeding coins into a laundromat machine while your socks spin in circles.
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