How Much Is a New Furnace for a 1500 Square Foot Home?
A furnace is a necessary feature in any home for those not living in a tropical climate. It acts as a source of heat during the cold winter months but can also serve to move hot air from room to room in the house when installed with ductwork. To determine how much it will cost to replace your furnace, some essential factors need to be considered when you contact local contractors.
First, determine the age and condition of your current system before calling an furnace installer so they can properly assess what needs to be done and how much it will cost. An old furnace needs more frequent repairs and may have problems that result from neglect or poor care. It would help if you also considered the efficiency rating of your current model and whether or not you can perform basic tasks such as changing filters, cleaning burners, etc.
Finally, find out what types of fuel sources are available in your area. Gas furnaces will cost more initially but save money over time for homeowners who live near a natural gas source. Those who have to use other fuels may end up paying higher monthly bills during the winter months if they do not have access to an efficient heating system that works with alternate energy sources.
Estimated Costs of Replacing Your Furnace System
The cost of replacing a furnace depends on several factors, including size, BTU capabilities, efficiency rating, location (if it uses gas), and accessibility (if it is a central heating system).
If your current furnace has an efficiency rating of 78% or higher, you are looking at around $1,500 to install a new model. Those who have lower ratings will end up spending closer to the $2,000 mark for replacement models that are 80% efficient or more. The location of your home will also affect pricing because running ductwork in multi-story houses costs more than doing so in single-level dwellings.
Finally, gas furnaces cost about $1,000 more to purchase and install than their electric counterparts because they need venting systems installed before use. Your contractor should give you specific rates based on what is involved with installing your particular unit.
If you are challenged to pay for a new furnace, explore financing options through local manufacturers. Some companies offer very aggressive financing terms or may allow customers to make payments in installments so they can replace their units without having to come up with all of the money at once.