If your old furnace is constantly breaking down and costing you money, chances are it might be time to upgrade. There isn’t much worse than having to repair an old furnace over and over again, and when you weigh up the costs of repair against a new one, it can leave you nothing but disappointed.
So, is it time for a new furnace for your home? A new furnace of course will cost you a bit in outlay. It will of course be a solid investment, because who likes to be shivering throughout the night? A new furnace, although costly to purchase, and costly to have installed, will save you money in the long run. If your current durance is aging, chances are even when it is running at its best, it might not be very economical or efficient, so installing a new one, with modern technology will save you more than any repair costs you can imagine in the next 5-10 years.
There are a few things you should consider before replacing however, and here are a few of the main ones.
Know whether to replace it or fix it
If you have had your furnace for more than three-quarters of its original life expectancy,it might be time to replace. If your furnace repairs cost more than one third of the replacement cost, it might be time to replace.
Most furnaces last around 15 to 20 years, so if yours is over 10 years old and it is staring to rack up the bills against its name, it might be time to move on.
How’s your efficiency?
If your system starts to cost noticeably more to run it might be time to replace. Efficiency should be very good if you keep it regularly maintained, so if you notice a big spike in your energy bills, there could be some issues that cannot be justifiably rectified with a repair that’s going to cost an arm and a leg. If you notice that the system does not heat like it should then there could be other underlying issues also. It doesn’t necessarily mean you must replace the unit though, because some of the easiest and cheapest repairs on furnaces can fix the issues with efficiency.
Are your ducts all in a row?
One of the most common reasons for an inefficient system is ducts that may have faults or broken ducts. Broken ducts can let warm air escape into the ceiling space, or rooms where it isn’t needed. If your ducts aren’t in good condition, you could be losing up to half of your heat unnecessarily.
Lower your heating requirements
One of the best ways to ease the strain on your furnace is by installing insulation into your home. Insulation can cut your furnace usage by up to half, lowering your bills, and the runtime of the system, meaning less maintenance and a longer furnace life.
How is your budget?
Replacing versus repairing your furnace can come down to the simple issues of what you can afford at the time it fails. Quality furnaces are not cheap, so replacing them will need a decent investment to ensure you are not in the same situation in a few years’ time.
The best way to find out whether your system needs replacing, or can be repaired for an affordable price, is to have a professional out to assess it and quote repairs vs replacement costs.