4 Factors That Influence the Cost of Replacing Your Furnace
In these days of online shopping, we’re used to researching a product we need, finding the lowest price, adding it to the cart, then having it show up a few days later. However, when it comes time to replace your furnace, the buying process isn’t as simple as a few clicks.
Purchasing a new furnace is a big investment in your home, so you want to make sure you get the best equipment at the fairest price. Understanding how the process works will help you make a smart decision and know you’re getting the best deal possible. Here are five important factors that determine the cost of a new furnace.
1. Energy source of furnace
There are three main types of furnaces available – natural gas, electricity, and oil. All will heat your home but they work differently and come with different price tags. In general, electric furnaces are the least expensive upfront but can produce the highest monthly energy costs. Oil furnaces are the most expensive, but they are not as common today so supplying it with energy may be trickier. Gas is the most popular type of furnace because they’re moderately inexpensive and come with the lowest energy costs.
2. Size of the furnace
You probably won’t be surprised to hear that the bigger the unit, the higher the cost. This is true. But what you really should be looking for is the right size of furnace for your home, otherwise, you may be wasting money for a long time.
A furnace that is too small will have to work extra hard to heat your home, which can shorten its service life. On the other hand, a furnace that is too large will also not run as efficiently and effectively as it should. That’s why it’s important to have your HVAC technician perform a Manual J load test to calculate the appropriate furnace size for your specific home.
3. Energy efficiency
With today’s technology, furnaces can be incredibly energy-efficient, which can save you money in the long run. You can compare furnaces by their Fuel Utilization Efficiency Rating (or AFUE). Higher AFUE units will be slightly more expensive but you can look forward to lower energy bills for years to come.
4. Installation costs
Furnaces are complicated pieces of equipment that should be installed by HVAC experts, not necessarily DIY homeowners. How much professional installation will cost may depend on the furnace model, how complicated the installation is, how existing venting is set up, the condition of the ductwork, and other factors. Keep in mind that proper installation is key to ensuring that your furnace is set up correctly and safely.
Furnace installation in Buffalo, Minnestoa
Investing in a new furnace isn’t an expense that homeowners enjoy. But by knowing what goes into the cost of a new system, you can make an informed decision that will keep your household comfortable for many years.