In extreme cold, a new furnace is a great addition to your home HVAC system. An efficient furnace can save tons of money since it’ll be consuming less energy and give maximum output. Besides, you don’t have to call an HVAC professional regularly when you get a brand new furnace. For your furnace replacement, you should consult with a furnace installation professional.
In this article, I’ll talk about the costs associated with furnace replacement.
Furnace Installation Cost
Furnace installation cost varies from city to city, brands, warranty, efficiency, and so on. You should replace the furnace with the same fuel type furnace. For example, if your previous furnace uses gas as a fuel, you should buy a new furnace which uses gas as a fuel. It’ll save you from additional expenses because you already have an existing structure to support the furnace. However, you can change the fuel type, and there can be many reasons like – size of the house, efficiency, cost-saving, etc. Most of the homeowners in the US uses gas furnace in their home, but if you go to the northern states, they use oil, and in rural areas, they use wood.
If you want to buy a gas furnace, it’ll cost $1,100 to $3,500, for electrical furnace it’ll be $800 to $1,800, for oil furnace it’ll be $2,000 to $6,000. So, the average price of furnace lies in the range of $3,000 to $6,000. So, buy the furnace which matches your budget and fulfills all your requirements. It’s recommended that you should buy the same fuel type furnace that you used before. It’ll help you to save money on rebuilding the furnace structure.
Now, I’ll talk about the factors that affect the furnace installation cost.
Factors that affect the installation cost of Furnaces
1. Size of the Furnace
Size is a huge factor in furnace replacement cost. A right-sized furnace will save you hundreds of dollars every year. Many people think that the bigger is always better, but it’s not always true for furnaces. The price of the furnace depends on the size. If you buy the bigger furnace, you’ll have to spend a significant amount of money. Also, you’ll have to pay more on electric bills as it’ll consume more energy to provide you heating. That’s why it’s important to know the right size of the furnace according to your house. To determine the right size, you should ask your contractor to do the load test. This load test is important to find the right size of the furnace.
The furnace energy source has an impact on the increase in furnace size. For example, if you buy a gas furnace, a small furnace will cost you additional $350 to $400 for 20,000 BTU (British Thermal Units) capacity increase, and a large furnace will cost you additional $1,000 to $1,200. But when you use the oil furnace, with this same 20,000 BTU capacity increase, you’ll have to pay an additional $400 to $700 no matter what size you buy.
2. Furnace Efficiency
As technology is developing every day, the efficiency of the furnace is also increasing. A more efficient furnace means you’ll have to spend more money on buying a furnace. But a higher energy-efficient furnace will help you to save money on electric bills, and you’ll understand later that those extra bucks while buying let you save hundreds of dollars.
If you buy a higher energy-efficient furnace, it’ll cost you $500 to $1,000 more than the medium efficiency furnace depending on the size and the source of the fuel. A higher energy-efficient furnace will provide continuous service for a long time, and you won’t have to call an HVAC professional to repair your furnace regularly. This definitely eliminates a big headache from you.
See the summary of this content in this infographic – Factors Affecting Furnace Installation Cost [Infographic]
By the way, are you looking for an HVAC system for your home?