One thing you never want to have happen is to spend a few hundred dollars or more on repairing an old furnace in your Moore, OK, home, only for it to completely fail not all that long afterward. Unfortunately, this is something that happens more often than you may think. Waiting too long before replacing your furnace can lead to it failing in the middle of winter and leaving your house without heat. If you have an older furnace that isn’t working properly, the following factors are the main things to consider when deciding whether furnace repair or replacement is the better choice.
Furnace Age
Furnaces can potentially last for 20 years or more, but typically they’ll end up failing after 15 years or so. That means before deciding to go ahead with paying to repair whatever issue your furnace has, you should always make sure to consider how old it is and how many more years you can reasonably expect it to continue working. If your furnace is already 12+ years old, you’re probably better off opting to replace it unless it only needs a minor repair, such as replacing the igniter, pressure switch, flame sensor, etc. Even then, replacement may still be the best option considering that a new furnace will almost certainly provide more effective heating and be more energy efficient than your current unit.
If your old furnace is already starting to fail, there’s an even greater chance of it suddenly failing during an extreme cold spell when it must run more and work harder. This is an especially major concern since it will likely take at least a full day to install a replacement. That is, if you can find an HVAC company that can start immediately. Either way, going without heat for more than a few hours in freezing temperatures creates a massive risk of your pipes freezing and part of your home getting flooded. That’s why you should be careful that you don’t wait too long to replace your furnace.
Type and Cost of the Repair
If your furnace stops working or isn’t working effectively, the first thing you should do is get an inspection and estimate to see what the issue is and what the necessary repair will cost. If you’re facing a steep repair bill, it can be helpful to consider how much the repair is compared to how much you paid for the furnace and how many years of life it may have left.
If the necessary repair will only cost a few hundred dollars and your furnace likely has at least five years left, it’s probably worth repairing it. On the other hand, let’s say that you have a 10-year-old furnace that you originally paid around $4,000 for. If you’re looking at having to pay $1,000 or more to get the furnace working again, you’re better off just replacing it. After all, there’s no guarantee that you’ll get another 5+ years out of it. This is especially true if your furnace already doesn’t work all that well and often must run continuously for a long time. In this case, you can be certain that it has already experienced quite a bit of wear and tear and may not last for more than another few years.
Energy Efficiency
You should always consider how energy efficient your current furnace is. A substantial percentage of homes still have conventional gas furnaces that are only about 85% efficient, which means they waste quite a bit of the energy they use. Upgrading from an older conventional furnace to a new high-efficiency condensing furnace can easily lower your annual heating costs by 10% or more. That’s because all condensing furnaces are at least 90% efficient, and some are as high as 98.5% efficient. The money you would have spent to repair your old furnace can be used for a new model. This can help to reduce your heating bills and save you quite a bit of money over the next decade or more.
Furnace Installation Incentives
Whenever it comes time to replace your furnace, it’s worth paying more for a high-efficiency unit. This is especially the case if you choose to install an ENERGY STAR-rated furnace. In this scenario, you’ll automatically be eligible to earn a federal tax credit that covers up to 30% of the total purchase and installation cost worth a maximum of $600. Let’s say you need to pay $500 to repair your old furnace, but you instead choose to install a new high-efficiency unit. In this case, you can put the $500 toward installing a new unit while also earning an additional $600 to help offset what you own on your next year’s federal income taxes.
If you upgrade to a high-efficiency furnace, you may also be eligible to earn a direct rebate from your natural gas provider that will help you save even more. For instance, Oklahoma Natural Gas offers all its customers a $550 rebate for installing a 95% efficient gas furnace. If you’re converting from an electric furnace to a gas unit, you can receive a $1,950 rebate no matter how efficient your new unit is. If you switch from electric to gas and your new furnace is at least 95% efficient, you can receive a $2,500 rebate. When you consider these available rebates and tax incentives, it may be a much smarter financial decision to replace your furnace instead of repairing it, even if you think it has more than a few years of life left. We can help you determine what the smartest investment is that considers the different incentives that are available. A unit that you may think is outside of your budget may actually be an option when you add up all the potential savings.
Our Expert Services
With over two decades of experience serving Moore and the OKC Metro area, Home Comfort Solutions is the HVAC company to turn to for your heating and air conditioning repair and replacement needs. If you’re having any issues with your furnace, our technicians can perform a full diagnostic inspection to determine what the problem is. Our team will always take the time to ensure you fully understand what it will take to fix your unit and give you advice to help you decide between repair and replacement. If you choose to install a new furnace, we’ll also explain all your options so that you can make a more informed decision on which unit is the best choice.
We carry an extensive selection of new furnaces as well as air conditioners, heat pumps and mini-split systems, and we only work with the top brands in the HVAC industry. We also offer financing options on approved credit so that you can get the new unit you need now without having to pay for everything upfront. If any emergency issues arise, you can count on us for prompt, reliable service any time of the day or night. We also work on commercial HVAC systems, address indoor air quality needs, service electric air handlers and more. To schedule a furnace repair, inspection, or an installation consultation, contact our expert team today.
