Oil furnaces and natural gas furnaces should last you 15 – 20 years. Electric furnaces enjoy an even longer average life expectancy, lasting 20 to 30 years. To get the most life out of your furnace, annual maintenance is essential. An experienced HVAC professional will be able to identify issues before they have a chance to develop into larger problems to keep your system running for years to come.
Should I Repair or Replace My Furnace?
When you’re having trouble with a furnace that’s more than 15 years old, you should consider whether to repair or replace it. If it starts making new noises or you notice your energy bills rising, those are both signals that you should repair or replace your furnace.
Even if your furnace can be repaired, replacing it will often save you money in the long run. Think back to any other repairs you’ve had to do in the past few years. Older units often continue to have issues and those repair costs can add up quickly. That’s why we often recommend replacing units that are more than 12 years old if they have an issue that will be expensive to repair.
It’s also important to think about how long you plan to stay in your current home. If you’ve settled in and have no plans to move, a replacement probably makes sense. But if you’ve got one foot out the door, repairs may be more logical. Although a new furnace will raise the value of your home, you may not be able to recover the full cost of the new system.
How Much Does a Furnace Cost to Replace?
Between the cost of the unit and labor costs, furnace replacement will likely set you back anywhere from $1,800 to $6,000 or more. The average furnace replacement cost is just under $4,000.
While that might be more than you’re looking to spend, keep in mind that modern furnaces are far more energy efficient than older models. With an ENERGY STAR qualified furnace, you can save up to 20% off the cost of heating your home. Depending on the size of your home and your ideal temperature, that can add up to hundreds of dollars of savings on energy costs every year.
Although we’re happy to help with furnace repair in Irvington and the surrounding areas, the repair costs aren’t always worth it. If we diagnose a problem with your heating system, we always provide options for moving forward. And when your system is nearing its average lifespan or the repair would be especially expensive, replacing it almost always makes more sense than repairing it.
Speak to an Expert
If you’re having trouble with your HVAC system, it’s always best to consult an HVAC contractor. Every system is different and without inspecting your specific unit, it’s hard to say whether it makes sense to repair or replace your furnace. If you live in the Northern Neck or Middle Peninsula of Virginia, we’re more than happy to investigate your problem. Give us a call today at (800) 323-7478 to schedule an appointment.
