Winter is still several months away and you probably won’t be thinking about a new furnace now. However, this is the right time to repair your furnace or start looking for a new one if you want to be ready before the chill and the snow arrive. Where something as important as a furnace is concerned, it is never too early to start. Too many people wait until the last moment and end up paying a higher price for emergency service or replacement. But how much does a new furnace cost?
The answer really depends on what type of furnace you are looking for. There are gas fired furnaces, oil fired furnaces and electric furnaces and several variations of each type. Each has its pros and cons, and each has its starting price tag. Here is a brief look at each type.
- Gas fired furnace: There are several types of gas furnaces and most of them use an induced draft system to regulate the flow of air to the burner and promote more complete combustion. Mid-efficiency gas furnaces have an efficiency rating of approximately 80% whereas the new superefficient condensing types have a rating of up to 97%. In Canada, the minimum efficiency furnace that can be installed today is 90%. These types of furnaces can cost as little as $2,000 and the superefficient ones can have price tags upwards of $10,000.
- Oil fired furnace: An oil fired furnace has a flame retention burner designed specifically for this fuel source. Oil furnaces have the same efficiency ratings as gas furnaces but because the dirtier combustion byproducts, this efficiency begins to decrease with usage, requiring much more maintenance in order to mitigate. They too have starting prices from $2,000 and the superefficient varieties can cost as much as $10,000 or more.
- Electric furnace: Since electric furnaces convert the entire electricity into heat, they have an efficiency rating of 100%. They are the cheapest to install and usually cost anywhere from $1,000 to over $3,000. However, they are also the most expensive to operate in most geographies due to the ever increasing price of electricity.
This is also the right time to upgrade your HVAC systems as the weather is just right to do all the repairs, maintenance and installation work. But before upgrading, you should ask the following 3 questions:
- How old is my HVAC system? Most new HVAC systems do not require upgrading as long as they are retaining their efficiency. But if your HVAC system or any part of it is several years old, then it probably needs upgrading. If it is more than 20 years old, then you should have it replaced.
- Has it been repaired and maintained regularly? An HVAC system needs to be repaired and maintained regularly as it accumulates dust and dirt and is subject to wear and tear through constant use. An HVAC system that has been left to the elements for several years may have to be replaced entirely.
- Is it functioning properly and efficiently? The purpose of an HVAC system is to make your living environment comfortable by heating and cooling efficiently. If you feel that it is not doing that, then it is time to upgrade or replace it entirely.
When upgrading your furnace or the entire HVAC system, it is important to do research to find the most suitable, efficient and cost-effective system for your home. Reliance Home Comfort is one of the most well-known HVAC companies in Canada and has been providing high quality products and services for over four decades. Request a quote for a new furnace cost if you are looking to replace your system – we’d be happy to help you choose the right equipment for your home and your needs.