Listen for changes in the way the fan sounds during operation. If it makes grinding, crunching or other unusual noises, debris or age may be affecting its productivity.
Look for signs up debris buildup on the grill. You might see gray fuzz hanging from the bottom and notice that the air vents in the grill is full of dust. This indicates that cleaning is the next step.
Note how long the fan has been in use. Simply because a fan is old does not necessarily mean it needs replacing. If you use the fan every day, it's more likely to wear out before a fan that does not get used as often
Attempt to clean the fan before replacing it, as this may help you get more life out of it. The Housekeeping Channel recommends detaching the grille from the fan housing and using a vacuum cleaner with a brush attachment to remove any buildup that might hinder the fan from doing its job. You can clean both the grill and the housing unit with the brush attachment on the vacuum cleaner.
Determine if the fan is still too noisy after cleaning. If it is, then it might be getting too old to function as it should, in which case it needs replacing.