What Does A New Furnace Cost?
It is at the heart of winter, and you need a perfectly running furnace. The last thing you want to hear is that “the furnace is written off and requires a replacement.” But that is it. Understanding the furnace models, their operations, pros, cons, as well as the price range is critical when drawing a decision to buy. Well, make sure to have around $8,500 for the replacement. Here, we look at the different types of furnaces to answer the question that every homeowner harbors when in need of a new furnace; what does a new furnace cost?
Furnace options for your home
Even before setting out to window shop, it is crucial to have some basic understanding of the available furnace options. A closer look at the furnaces will also give you an idea of the price range. Therefore, what does a new furnace cost?
- Oil-burning furnace: This is one of the most popular furnaces on the market today. Great pieces will cost between $3,000 and $7,000.
- Electric furnace: This is considered among the most efficient furnace options for homes. It is recommended for heating smaller living areas as opposed to the entire house. The electric furnace units have an average price of $2,500.
- Gas-fired furnace: These are heaters designed to operate on natural gas or propane. The standard models go for approximately $5,500 including charges for installation. However, the cost of high-end models can reach and even surpass $12,000 mark.
Note: If some air conditioning duct work will be necessary, an additional $3,500 to $7,500 might be required. Besides, those who opt for non-electric furnaces, an upgrade to the vent system could also be needed. This will push the cost further up.
The high-efficiency furnace models
To heat your home adequately, it might not be necessary to go for the largest units or most efficient types. The older designs were larger compared to the modern types. However, the new models are smaller but more efficient. To make the right decision, it is important to consult an air conditioning expert for appropriate calculations.
A common gas furnace designed in the 1970s or 1980s will have low Annual Fuel Utilization Efficiency (AFUE) of approximately 65%. When this is compared to modern furnaces that come with high AFUE of about 97.5%, you can calculate the expected cost per year and pick the best option. However, the high-efficiency designs will cost more than $1,500 compared to the low-efficient models. Besides, manufacturers also give longer warranties for high-efficient furnaces.
Furnace fan-speed and cost
The speed of the furnace fan is also crucial in determining the overall cost of a furnace. The furnace speed mainly comes in two distinct versions; the variable and single.
- The single-stage blower: This furnace model simply goes on and off. Once you switch the furnace on, it runs at full capacity. Notably, this model is cheaper and requires less in maintenance compared to the variable speed versions. The biggest setback for the model is its poor efficiency.
- The 2 and 3 stage blowers: These furnaces are designed to start running at about 60% capacity and only increasing on demand. The cost of these furnaces is approximately $550 compared more compared to the single-stage blower.
Furnace installation and discounts
When you purchase the preferred furnace, it is prudent to ensure that crucial costs of installation are included. This is not all. Before completing the purchase, insist that the costs of transport and removing the old one are also added. The additional costs will help to get the complete picture of the system and answer the question; what does a new furnace cost?
If the seller does not cover the additional costs, it is up to you to meet them. Select a licensed furnace contractor with many years in the business of furnace installation. Besides, an HVAC contractor might also be required to have an additional plumbing license. Ensure to check the licenses of the selected contractor carefully. The contractor will charge you between $50 and $70 for every hour during installation. An additional $100 might be required to get a permit for the task.
Check with the local authorities to know whether there are rebates for installing specific furnaces. It might also be possible to tap into the home equity to pay for the cost.
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