If you depend on a furnace for your household heat, you already know they’re reliable. However, no furnace lasts forever. Eventually, you’ll need to replace your home’s furnace for one reason or another. Often, a breakdown is the event that triggers that. But how can you tell if a repair is better than a furnace replacement? Here’s everything you need to know to make the right decision.
Consider Your Furnace’s Age
You can expect about 15 to 20 years of reliable service from a well-kept furnace. If yours is at or above that age and suffers a breakdown, the repair you need might simply not be cost-effective. The only exceptions are relatively minor repairs. For example, a new relay switch, thermocouple, or ignitor can be simple, affordable repairs costing less than $300, a fraction of the cost of a new furnace.
Consider Furnace Repair Frequency
In general, furnaces will experience more reliability issues as they age. Statistically, most furnace repairs happen within the final two years of a furnace’s useful life. That means you can use repair frequency to tell when you need a furnace replacement. A good rule of thumb is to replace your furnace if you’ve needed two significant repairs in a calendar year. At that point, your furnace likely has other underlying problems and a significant breakdown is in its future.
Consider Repair Cost
Sometimes, even a younger furnace isn’t worth repairing. This can happen if it suffers a major component failure and has no remaining warranty coverage. Before you choose an expensive repair, you can apply a formula known as the rule of $5,000. This rule will let you know if the cost of a significant repair is worth paying. To use it, take the repair cost and multiply it by the age of your furnace. If the number you get is higher than $5,000, the repair isn’t worth it. It means the remaining expected lifespan of your furnace is too short to guarantee you get your money’s worth.
Consider Energy Efficiency
Another thing you should consider while weighing your options is your current furnace’s energy efficiency. On average, a furnace installed about 20 years ago would have been about 78% efficient when new. After years of wear and tear, yours is likely less efficient than that. A new furnace, by comparison, will be at least 81% efficient. That would cut your heating costs by at least 3% and likely much more. Your savings may be significant if you look at your energy bills and do the math. That alone may make a replacement a wiser move than a repair.
Consider the Time of Year
Did you know there’s an optimal time of year to buy a new furnace? It tends to be in the spring and early summer of each year. That’s when you’ll find various promotions and discounts from HVAC companies and furnace manufacturers. They steeply discount off-season items to stimulate demand during months when furnaces aren’t exactly flying off shelves. If you can get your furnace replacement to line up with those times, you could save significantly.
Consider Your Budget
Finally, your budget is the ultimate bottom line in your decision. If you don’t have the money for a furnace replacement, a repair may be your only option. However, you should remember that there are financing options that can make a new furnace affordable for you. R.J. Groner Inc. offers financing options from GoodLeap and Synchrony. They offer flexible payment options and can help you spread out your furnace’s cost over many months. Using one of those may be a more appealing option than overpaying for a repair that’s not worth its cost.
Local Furnace Repair and Replacement Specialists
Whether you ultimately choose a furnace repair or a new heating installation for your Stroudsburg, PA, home, R.J. Groner Inc. can help. We’ve served local homeowners since 1929, offering quality home services. We provide HVAC installation, repair, and maintenance. We also handle plumbing, ductless mini-splits, indoor air quality, and geothermal systems. We even offer 24/7 emergency services should you ever need them. And we’re a Better Business Bureau-accredited company with an A+ rating. So, if you need furnace services in Stroudsburg, call R.J. Groner Inc. today!
