Your washing machine is NOT an investment

[Matt]

That’s right bozo. It’s not an investment. You can’t expect to put money into washing machines and later make a profit. First off, they lack liquidity (other than what you put in them) have you ever tried to sell a washing machine? Not easy. Actually I have a washer and dryer in my garage right now that I’m thankful that I can even give away to someone since they are so damn heavy to move.

However, I think we all remember that kid from college (or prison should you have elected that path) who decided that clothes can be worn for weeks on end without requiring a wash. So, the reality is you need to wash your stuff, or else scar your neighbors for life.

So – do you rent or buy?


Renting a washing machine is a wonderful notion. You basically take a bunch of quarters and schlep across town to the laundry mat, sit around aimlessly for a few hours to prevent the crack heads from stealing your clothes, and go back to your caravan to pack them away again.

Buying a washing machine is very different, you’d need space to put it, which means an upgrade to an apartment or perhaps a house, plus it would come with costs. Things like energy, water etc. What about maintenance to keep it operational? All these things you’d avoid if you just rented it.

Washing machines depreciate in value quickly. The resale market is getting savvy to it, and you’d likely have a hard time getting 1/3 of your purchase price back. This ‘How to Buy Used‘ guide doesn’t help matters, as it advises paying no more than $200 (and more like $50-100!) So with that in mind, why would anyone want to buy a washing machine?

Ask a New Yorker, and one of their top 3 features (I made up that number)for inside the apartment is a washing machine. Why is it desirable? Because it offers convenience perhaps. It certainly offers a tangible benefit to a renter, and likewise for resale value. It’s these little things that shape the vision of the home, and closes deals.

So it’s not an ‘investment’ in the sense that it isn’t traded on the stock market… but it offers value beyond its price, and there are some arguments in its favor. Ultimately, there is a ‘clean need’ which correlates to the shelter need we see within the Rent/Buy of home ownership, so is there any difference here?

Are you one of those people who refuses to buy a washing machine because it is a bad ‘investment’?

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[smittytabb]

While they may not be an investment, buying a reliable brand can pay off. I have been in the same home long enough to pay off the mortgage and still have the same washing machine that I moved in with. Indeed I have only owned two washing machines in 35 years and both were Maytags. I would probably think twice before buying another kind.

Apartments seem to have them much more commonly now inside each unit. I remember going to the laundromat when I lived in an apartment, and in my first home the washer was in the garage, not inside the house. Now it seems like a much more common inside amenity for both houses and apartments.