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Factors to Consider in the Cost of a New Furnace

cost of new furnace SLCYour furnace is one of the most vital pieces of equipment in your home, especially during the winter months. After years of use, your furnace may start to show signs of wear and not function as efficiently as it used to. An aging furnace won’t heat your home as it should and will cause an increase in your energy bill. It may need frequent, costly repairs or compromise your family’s health by dispersing dust or other allergens into the air.

It may also stop working altogether and leave you rushing to find a replacement. When faced with the need to replace an aging furnace, the first question on your mind is likely to be, “How much does a new furnace cost?” The cost of replacing your furnace is determined by a number of important factors, and it’s also important to weigh the cost of purchasing a new furnace against money lost over time by an inefficient one.

 

Signs a Furnace Replacement is Necessary

While it is at times tempting to try to save money by waiting as long as possible to replace your furnace, there are certain signs that let you know your furnace is no longer functioning properly and needs to be replaced as soon as possible. Replacing it before it fails completely saves time, money, and headaches in the long run. It also ensures your environment stays healthy and safe for you and your family. Here are some important factors to consider when determining when a replacement is necessary:

Age of your furnace

If your furnace is over 10 years old and is beginning to require more frequent maintenance to keep it up and running, purchasing a replacement is likely to save you money over time.

Increasing energy bills

If you see a steady rise in your energy costs, your aging furnace is probably to blame. An older furnace needs to work harder to produce the same results it did when it was newer.

Uneven heating

If you’ve noticed that some rooms in your home are warm while others remain cold, it may mean your furnace is no longer able to distribute heat evenly throughout your home and may also be a sign of out-of-date ductwork.

Your furnace is noisy

If your furnace is making excessive noise in the form of rattling, banging, popping, humming, or squealing, it likely needs either a part or the entire unit to be replaced.

You see soot or dirt around the registers

This can be not only annoying but also hazardous to your health. An older unit may blow out dust, dirt, or rust particles into the air and negatively impact your health.

 

Electric, Gas or Oil Furnace Replacement Cost

When it comes to the cost of a new furnace, the type of energy being used is the most important factor to consider. Energy type has a significant impact on cost, with electric furnaces typically costing the least and oil furnaces costing the most. Cost and installation will vary depending on what city you live in, cost of living, and other factors, but in general, the average cost based on energy type is broken down between the three types as:

  • Electric: $1,925
  • Gas: $2,100
  • Oil: $2,885

Furnace Efficiency

If you’re considering a high-efficiency furnace, the initial cost of purchase and installation will be higher, but the long-term savings offset the higher cost of the unit. The same factors that influence the cost of a standard-efficiency unit still need to be considered, just with a higher average cost for each type of unit. The pattern remains the same, however, with an electric furnace costing the least, an oil furnace costing the most, and the gas furnace replacement cost landing in the middle of the two. The average cost based on energy type for a high-efficiency furnace is:

  • Electric: $4,410
  • Gas: $4,625
  • Oil: $6,480

When considering whether to purchase a high-efficiency furnace, there are several factors to consider. A furnace with a higher Annualized Fuel Utilization Efficiency (AFUE) rating has many benefits, including being better for the environment. High-efficiency furnaces tend to last longer than standard units due to more economical on-and-off cycling and being built to withstand chemical build up. In addition to a higher level of performance, high-efficiency furnaces produce better airflow and have better air filtration systems that remove more mold, dust, and other allergens from the air. Of course, one of the greatest advantages is money saved over time from the lower operating costs of the furnace.

 

Switching Furnace Types

As you’re thinking about replacing your furnace, you may be wondering if you can or should switch from one type to another. This will also affect the cost of replacement and could make the cost more or less depending on what type you would like to switch to. If you currently have a gas or oil furnace, switching to an electric furnace saves on purchase cost and installation. Electric furnaces are both easier and cheaper to install, as well as being easier to maintain. They are also safer, quieter, and can last up to 30 years. Electric furnaces are often a good choice for warmer climates that don’t experience extreme cold in the winter.

There is probably little need to switch from a gas furnace to an oil-powered unit due to the similarities between the two, but it may be beneficial to switch from the less common oil furnace to a gas furnace. Both are easily capable of handling cold temperatures and are able to produce a significant amount of heat. Oil furnaces require more maintenance and cost more over time than their gas counterparts. It’s also possible to switch from an electric furnace to a gas furnace, but in general, it’s not necessary unless an electric furnace wouldn’t be capable of producing the desired heat levels.

 

Furnace Size

Size plays an important role in the cost of purchasing and installing a new furnace, and buying the correct size for your home assures that you won’t overpay by purchasing a unit that’s too large or end up with one that fails to adequately heat your home due to being too small.

Whipple Service Champions performs a manual J HVAC load test to determine the proper sized unit for your home. This is a great time to have a unit installed that’s the perfect size for your home, especially if you’re living in a home that is currently mismatched to the furnace size. Having a heating unit that is just the right size makes a significant difference in not only the comfort level inside but also on your overall energy bill. An oversized unit wastes energy and won’t heat your living space any better than a smaller unit that has been determined to be the best size for your particular home.

 

Furnace Installation Cost Factors

Many factors can potentially influence installation cost, such as time, location, the difficulty of installing the unit, and if ductwork is required. Although unexpected expenses are rare, it’s still a smart idea to budget for them in case the need arises.

Each situation is unique, and the pros at Whipple Service Champions walk you through the process and help you understand what your options are for replacing your furnace with a new up-to-date system. Enjoy the savings of having an efficient unit as well as better air quality, less noise, and the peace of mind of knowing your new furnace will last for years to come.

Call Today: 801-355-4433

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