If you’re in the market for a new furnace, then you’re undoubtedly wondering how much it is going to cost. Since every homeowner’s needs are different, it makes it impossible to give a “one-size-fits-all” price. Buying a furnace is similar to buying a car in that the price is truly affected by the “bells and whistles” that you decide on such as the size, the efficiency and the speed. On top of all of those, very few installations are exactly alike, creating another variable in the cost of a new furnace.
To get a better idea of how much your new furnace may cost, consider these important things:
It will come as no surprise that the bigger the house, the bigger the furnace you will need. Taking that one step further, the bigger the furnace you need, the more expensive it is going to be. Therefore, you should always consider buying the smallest possible furnace you really need.
Smaller furnaces also have a tendency to have a longer life cycle because there are less starts and stops, and they have better efficiency meaning lower gas bills. This is a classic case of less is more.
Furnaces today are much more efficient than the bulky boxes we remember from our childhoods. That means you have a variety of different options when you’re looking to purchase your new unit.
Although furnaces with higher AFUE ratings run more efficiently and therefore cost more upfront, they end up saving you money in the long run on your utility costs. Your upfront cost may be an additional $400, but if your gas bill shrinks by just $2 a month over the life of your furnace (12 – 18 years) then quick math says you’re way ahead of the game.
When you consider the speed of the fan in your furnace, you again have to think about long-term savings rather than the initial cost upfront.
The simplest furnaces, called single-stage furnaces, tend to be the least expensive but they end up costing you more in the long run. Because these furnaces give their all for shorter time periods, they tend to have shorter life cycles resulting in a replacement needed much sooner than a variable speed furnace.
Although variable speed furnaces do cost more initially, the gas savings can be huge over the years.
The final variable when it comes to determining how much a new furnace is going to cost you is the installation cost. This includes the time it takes to install the furnace, where it’s being installed, how difficult it is to install and whether or not new ductwork is needed. All of these factors greatly affect how much your installation cost will come out to.
Finding the right furnace and determining how best to save money on your energy bills can be a difficult process, especially when you consider all of the different factors that affect how much you’ll pay for your new unit and overall heating costs. As you begin your search for the perfect furnace for your home and budget, use the information here to help you make an informed decision.
If you need help during this process, or if you’re ready to discuss your options, contact our HVAC professionals today by giving us a call at 519-756-6888. Your comfort is our goal.