Preparing to buy a new furnace? Fun! Here’s what you need to consider about the cost before you take the plunge.
What does a new furnace cost? Unless you’re actively researching furnace models and types, this is probably not information at the tip of your tongue. Of course, the cost of a new furnace will vary. On average, you can expect to spend $1,500 (in the low range) to $6,000 (toward the higher end of the scale) for a new furnace. When shopping for a new furnace, don’t forget to factor in the cost of furnace installation — hiring professionals to install and set up your unit is key to an efficient, long-lasting unit. It’s worth paying a trained HVAC crew to do the job.
Another benefit of consulting with the pros is that they can help you make the best decision for your family’s needs. But before you make the call, it’s a good idea to have a general understanding of what’s available to you. Here are the most common new furnace cost considerations.
Gas Or Electric Furnace
What costs more, a gas or electric furnace? And, just as important: Which is best for you? There’s no “right” or “best” furnace type (although some people may have strong opinions). Here are the major differences between gas and electric furnaces.
Gas Furnace Cost
Popular and widely available, many residential furnaces run on gas. On average, a gas furnace costs $3,000, though of course there is wide variance across different models (keep reading to learn about efficiency). These are most commonly installed in chilly climates that rely on furnace heat for a large portion of the year.
Electric Furnace Cost
If your home does not run on natural gas energy, the choice is made for you: You’re getting an electric furnace. Electric furnaces cost less than gas, but they often bring higher monthly bills. These are a smart option for homeowners who don’t rely on furnace heat for much of the year, or who experience temperate winters.
Furnace Efficiency Level
Furnaces come in two different efficiency levels: mid- or high-efficiency. The names may be self-explanatory, but it’s worthwhile learning a little more before making investing in the cost of a new furnace. Here are the major differences between the two — and who may benefit most from each type.
Mid-Efficiency Furnace Cost
Typically speaking, a mid-efficiency furnace starting cost is $1,500. These furnaces are less expensive to purchase and install than high-efficiency, although they do tend to have higher energy costs on a month-to-month basis. If you live in a warm climate, or perhaps heat your house with a combination of furnace and wood stove, you may find that a mid-range furnace meets all your needs. In this instance, you may choose to save on the up-front costs.
High-Efficiency Furnace Cost
A high-efficiency furnace will cost $3,000 or more. Although the higher price tag may be a barrier to some, homeowners see great return on their energy bills. If you live in a cold climate or use your furnace routinely for half the year or more, this is probably a wise option. Another reason this could be a smart investment for you is if you’re planning on staying in your home for the long-term, or are considering selling. If you’re staying, you’ll want to make a purchase with long-term returns. If you’re selling, this is an attractive upgrade for potential buyers.
Urgency Of Installation
Do you need a new furnace… yesterday? If you’re looking to replace a broken furnace immediately, you may pay more for emergency furnace installation costs. However, honest professionals won’t price gouge you for the unit itself. Be sure to ask for a breakdown of costs before committing to the unit and the work. And always ask questions! Any HVAC crew worth their salt will love sharing all of the details.
Many homeowners with a furnace on its last legs try to eke out as much use as possible before it breaks down. This is not a smart idea — consider it like taking a road trip with a car you know has issues. It’s just asking for trouble. To avoid a broken furnace during a cold snap and emergency furnace installation costs, schedule maintenance or a furnace replacement before your current one kicks the bucket.
There’s no question that a new furnace cost can seem overwhelming to homeowners. But with a little planning, you can rest assured that the purchase is a long-term investment in the resale value of your home — or simply, the comfort of you and your family.
Do you have questions about buying a new furnace? Is it time to schedule routine maintenance on your existing unit? For all furnace, HVAC, and plumbing needs in Fayetteville or Raleigh, NC, call Blanton’s Air at (910) 249-4898.