Should You Replace or Repair Your Furnace?
Imagine waking up in the middle of frigid night. You go to crank the thermostat but there’s no response—no sound of the furnace firing up and no warmth coming out of the air vents. It could be a simple problem that’s quick and inexpensive to fix, or it could be a problem so big and costly that it makes more sense to replace your furnace than repair it. To help you make the best choice, here are some tips from a furnace repair and installation company in St. George on deciding between replacing and repairing your furnace.
Consider the Typical Furnace Lifespan
A study by the National Association of Home Builders (NAHB) and Bank of America found that the typical forced-air furnace systems last an average of 15 to 20 years. The average lifespan for hot-water boiler systems is 13 to 21 years. If your furnace is nearing the end of its lifespan, schedule a thorough inspection with a furnace professional in St. George to determine whether it is better to replace or repair.
Assess the Costs of Repairing vs. Replacing
The costs of repairing versus replacing play a pivotal role in deciding what to do with your furnace. Depending on the size of your house and the brand of equipment you choose, a new hot-air furnace typically costs between $1,500 and $4,000. As a rule of thumb, consider replacement if your furnace is beyond three-quarters of its life expectancy and repairs are expected to cost more than a third of the replacement cost.
Factor in Additional Energy Savings
If your furnace is more than 15 years old, you could save a lot of money by replacing it with a new, energy-efficient model. The minimum Annual Fuel Utilization Efficiency number (AFUE) on new furnaces is 80%. In addition to saving money on your energy bills, you may also qualify for federal tax credits, local tax incentives, and manufacturer rebates if you install a super-efficient furnace system. Your furnace installer in St. George can help you select the model that is right for your home.