What Is the Average Cost of a New Furnace With Installation?
When your furnace or heating system breaks down, you may be tempted to stick a space heater in the room and hope for the best. However, not only is this an inconvenience — especially when temperatures continue to drop — it can lead to potentially dangerous circumstances in your home. A new furnace with installation costs between $1,000 and $3,000 depending on its specs and any additional work needed after inspection of your unit.
The average cost of a new furnace with installation is around $2,500. This figure varies due to factors such as gas prices at certain times of year (electric heat will cost slightly less per month), the price of oil (which is usually cheaper than natural gas), and whether delivery and installation are included.
It is possible to spend up to $10,000 or more depending on the size of your home, how many rooms are being heated through a single unit, and whether you’re installing an energy-efficient model that costs significantly more than your traditional furnace. Most homes are equipped with furnaces in their attics or crawl spaces that are convection heaters fueled by natural gas or electricity. According to Energy Vanguard, electric furnaces are usually reserved for supplemental heating when temperatures dip below zero degrees Fahrenheit. If you want central heating throughout your entire house but don’t have the money for a new furnace, consider buying individual room heaters instead. They cost less than $100 each, but they often entail an electric bill increase of around $22 per month, depending on your region and the weather outdoors. Other options include turning up the heat in your home or adding more insulation to keep it warm.
How Much Does It Cost To Repair An Older Furnace?
While furnaces are built to last for years, sometimes things can go wrong with them that make repairs necessary before you’re able to use them again. If you find yourself in this situation, expect to pay around $300 for a primary repair job if your furnace is ten years old or older. According to Energy Star, the average age of furnaces within the United States is 13 years old, so these are common issues across the country.
Older furnaces might require a new filter or igniter and more extensive maintenance like cleaning and motor replacements, which can cost significantly more than an initial repair depending on the damage done. Energy Star estimates that furnace repairs typically cost between $300 and $400. It is possible to save money by replacing old parts yourself and performing routine maintenance such as changing filters and keeping outdoor vents free of dirt and debris. However, this isn’t recommended for novice mechanics, so it’s best to invest in a professional rather than risk causing further issues with your unit.