One of the most common questions we get is, “What is the cost of a new furnace?” Many people have never replaced a furnace before. The answer, unfortunately, is that it depends. In any heater size there are many different models with various features, efficiencies and warranties available.
One feature that many people think about is energy efficiency. Like miles per gallon in a car, it measures how much heat you get for the fuel burned. You can spend more up front and get a high-efficiency furnace that will cost you less to operate for years. Or you can spend less at the time of purchase and get the lowest rated efficiency furnace available, which is currently 80%. That type of furnace will cost you more to operate over the life of the unit. Depending on how long you expect to own the home, the lower efficiency unit may end up costing more in the end with the higher utility bills.
Which leads to another question, how long does a furnace last?
Appliance Magazine published a report on the life expectancy of HVAC equipment that said a gas furnace lasts on average 17 years. If you are trying to make a decision between repairing or replacing your heater, that is important information to consider.
Another important feature to consider is who is installing the new furnace. According to Energy Star, the most important factor in whether your furnace performs well is the quality of the installation. A reputable company that invests in well-trained technicians and follows all applicable building codes is worth paying more for.
Finally, what are the warranties or guaranties that you receive with the new unit? Some things to consider are:
- What guarantees do the major components have (heat exchanger, etc.)?
- Is there a money back guarantee?
- What is the guarantee on workmanship?
- Is there a guarantee on the performance of the new unit?
So what is the answer? You should expect to see the price of a new furnace between $2,500—$6,000, depending on the size and the features you choose. This is for a forced warm air unit, boilers that use radiators/baseboards can be more expensive.
Since these units last a long time and can be expensive, it is important to make the right decision. Good or bad, you will be living with your decision for a long time. If you have further questions about the cost to replace a furnace, contact the experts at P.K. Wadsworth Heating & Cooling. We have been partnering with Cleveland area homeowners since 1936.
Kim Nemecek works at P.K. Wadsworth Heating & Cooling. After growing up in Cleveland, she lived in Florida for many years, working at an air conditioning company there. Kim has four grown children, two grandchildren and two spoiled dogs. She lives in Solon with her husband, Todd.
The opinions and statements contained in this article are for general informational purposes only and are not instructions. Only trained, licensed and experienced personnel should attempt installation/repair. The author assumes no liability for the opinions/statements made in this article. Any individual attempting a repair or installation based on this article does so at their own risk of loss.