A dripping faucet does not automatically mean you need a new one. A $5-$25 cartridge or washer replacement fixes most drips and extends the faucet's life by 5-8 years. But at some point, repeated repairs on an aging faucet cost more than a new one. The breakpoint depends on the faucet age, repair history, and whether the finish and style still match your kitchen or bathroom. Here is the cost math for both options.