Until you get one that dies outside the short warranty and wish you had paid extra for the new one with 5 year warranty. I have bought maybe 4-5 reconditioned over the years and only one has failed but the one failure was enough to motivate me to buy new thereafter. The savings gap has also diminished over time compared to the best sale prices on new stuff.
If you but from a place that "refurbishes" on their own, which is essentially verifying everything is in the box and turns on, then you will have 5yrs of warranty from date of manufacture. These are usually places that buy pallets of returned goods from HD.
Then you have certified refurbished, such as from CPO, that has been through a service center. These have limited warranties, and the serial # has been altered for this purpose, so it is actually limited.
Between the two, I usually go reference refurbished, but not from CPO. I bought a couple items off eBay that were "refurbished," but we're just store returns. Box looked like ****, but tools were fine. One was defective, but I warrantied through Milwaukee and had a new supersawzall in my hand 2 weeks later. I bought the kit for $230 when they had over 100 available at the time, zero now of course
SkinnyG, I PM'd you