Every homeowner, at some time or other, has to replace their home's worn-out furnace with a new one. If you own a house, here's when to update your home's HVAC system by having a new heater installed.
When Your Old Furnace Needs Extensive Repair
If your home's furnace is older, you may not want to repair it if the furnace breaks down and needs major repairs that cost a lot.
Repairing a newer furnace usually makes sense because the furnace should have years of good performance left, but an older one is frequently less reliable. Instead of paying for repairs now and then dealing with another malfunction in the near future, you're better off buying a new furnace if your current one is old.
When Your Furnace Isn't a High-Efficiency Unit
If you have a furnace that's not a high-efficiency unit, you may be able to save a substantial amount of money by investing in a new one that runs better. A high-efficiency model will provide energy savings whenever you turn the heat on, and those savings will last for the life of the heater. Eventually, the new one will pay for itself as energy savings add up over time.
How quickly a new high-efficiency unit will pay for itself depends on your furnace's current efficiency rating, the exact efficiency rating of the new model, and your heating bill.
If the difference in efficiencies is 25 percent and you spend $2000 for heat over the course of a winter, you'll save $500 per year in reduced energy costs. These $500 annual savings can then be divided into the cost of a new furnace to determine what the financial break-even point is. In this example, a furnace that costs $6,000 would pay for itself in 12 years.
When Winter Is Over and Temperatures Warm Up
While before winter might seem like the natural time of year to shop for a furnace, you might get a better deal if you can wait until winter is over.
As the snow melts and temperatures warm up, homeowners will begin to focus more on air conditioning -- and HVAC contractors will want to get rid of their leftover furnaces so that they have room and capital to purchase central air conditioning units. Rather than keep a furnace for the summer, a contractor might sell that furnace to you at a discount from the normal price.
For more information and tips, contact a local heating installation service.