Furnaces have a limited lifespan but are necessary for the safety and comfort of your family. Replacing a furnace is a big investment, and something that most homeowners have to inevitably do at some point. But how do you know when the time has come to invest in a new furnace?
Several factors should be taken into consideration, but in certain scenarios, replacement is likely to be the smart move.
The Average Life of a Furnace
The life of a furnace depends not only on the type of furnace, but how well the unit is maintained. A furnace that receives proper annual maintenance can last 20 years or even more. A furnace that has not been maintained may only last 15 years or less.
Factors to Consider When You’re Having Furnace Issues
If your furnace is older but you’re not having issues, great! You can likely delay its replacement. If you are having issues, however, the age of the furnace should be considered, but there are other factors to consider as well.
- What’s its overall condition? If you make the repair, but other repairs may be coming soon, paying for a repair could be a waste of money.
- How much does the repair cost compared to replacement? If the repair cost is significant, your money may be better spent on a new furnace.
- Does your furnace have a warranty and what are the terms of the warranty? It may cover repairs only, or it may cover replacement. If it covers replacement when the repair is too expensive, take advantage of it.
- How efficient is your furnace? Sometimes upgrading to a newer, efficient furnace can pay for itself over time in reduced energy bills.
- How well is your furnace working for you in general? If you haven’t been getting enough heat, or have had to repair it multiple times, it may be at the end of its life.
- How long will the repair last? If your technician tells you that the repair is just a band aid and that you may have to repair it again soon, it may be time for replacement.
Reasons for Replacement
While there is no definitive formula for determining when it’s time to replace your furnace, in certain scenarios replacement is likely your best option.
1. Carbon Monoxide Leak
Carbon monoxide is an odorless gas that can be deadly. If you discover a carbon monoxide leak from your furnace, choosing a repair over replacement may not be worth the risk. Some signs of a carbon monoxide leak include:
- Moisture on windows and walls
- Rusted furnace pipes
- Soot around or on the furnace
- Yellow burner flame
Carbon monoxide poisoning signs include nausea, headache, and disorientation. If you notice these symptoms, get everyone out of the house immediately and seek emergency medical care.
2. Over Fifteen Years Old
If your furnace is more than 15 years old and you’re having issues with it, it’s probably time to replace it. The older it gets, the more work it will need, the cost of which will add up.
3. Repair Cost is 50% or More of the Replacement Cost
If the necessary repair is expensive, investing in a new furnace is likely the smarter move. 50% of the replacement cost is a general rule, although if your furnace is older, you might want to use 25% or 30% as your benchmark.
4. Higher Energy Bills
As your furnace ages, its parts start to wear down, which makes it work harder and use more energy. Replacing your furnace at this point will pay for itself over time in saved energy costs.
5. Less Power
If you notice that your home is not feeling as warm as it used to even though you’ve kept the thermostat the same, your furnace has likely lost some of its power due to age. This issue goes hand in hand with higher energy bills, so it’s probably time for replacement.
6. You’re Selling Your Home and Your Furnace is Older
An older furnace can be a deterrent to many home buyers who will see the price tag of a new furnace in their future. A new furnace, on the other hand, is a great selling point.
7. You Want to Be Environmentally Friendly
Replacing your furnace with a new, energy-efficient model is good for the environment and for your indoor air quality. Additionally, by purchasing a high-efficiency model, you may qualify for tax credits or rebates from your utility company.
8. Discounts or Financing Available
If when you’re deciding whether or not to replace your furnace, you come across a company offering special discounts or financing options, you may want to seize the opportunity.
Best Time of Year to Replace a Furnace
During the spring and summer, you may find better deals on new furnaces. However, if you have a furnace issue during the winter and repairs are going to be expensive, it’s probably not worth shelling out money for the repair and waiting for the off season to purchase a new furnace. If your furnace only needs minor repairs, on the other hand, you might want to wait for the off season to replace it.
TR Miller Heating, Cooling, and Plumbing Can Help
TR Miller Heating, Cooling, and Plumbing has been serving the heating needs of suburban Chicago residents since 2008. We are a family-owned company, so we understand the needs and concerns of our customers. Our certified technicians are highly trained in HVAC maintenance, cleaning, repairs, and replacement and our entire team is dedicated to ensuring your family’s comfort and safety.
If you have a furnace issue, give us a call. We’d be happy to discuss your needs and review your options with you. One of our core values is integrity, so we will never recommend more than what you need. If your furnace can be repaired to extend its life, that’s what we’ll do. If it needs to be replaced, we’ll work with you to select an option that meets your needs and budget. We want to be your trusted HVAC partner for life!
