Remember, Not only can you apply the money you would spend on the repair towards the new system, but you save the expense of more repairs this year or the next.
A rule of thumb is to multiply your repair bill times the age of the furnace. If the result is 3,000 or more, replace it. If it is less than 2,000, repair it. If it’s in between, repair it if you plan on moving within the next couple of years. If not, consider replacing. With a ten year old heat pump or a fifteen year old furnace, you will need to replace it in a few years anyway. Today’s repair may be little more than money down the drain. It can make more sense to spend money on a new system instead of more repairs.
How Can I Save The Most Money Today?
With convenient financing programs, you can finance the entire cost of a new heating and air conditioning system. Payments are low and may be entirely offset by your utility bill savings from a modern, new, more efficient system. Plus, you will not have the nasty surprise of more unexpected repairs. Your out-of-pocket costs are usually less when you replace your equipment and finance it.
Will Comfort Improve?
Yes. Newer, more efficient heating systems usually result in dramatic improvements in the comfort of your home. Of course, it may be necessary to replace old, worn, leaky duct systems to ensure you get the most from your system.
A Few Facts
As heating systems age, their performance declines. They have a harder time keeping up with heating demand. Efficiency falls.
As parts age and wear, breakdowns increase in frequency. It becomes increasingly likely that you will be faced with the hassle and inconvenience of a repair during the coldest time of the year (when equipment is running the hardest), when service companies are backlogged.
According to the American Council for an Energy Efficient Economy, many gas furnaces and boilers installed before 1990 were no more than 50% to 60% efficient when new (remember, efficiency declines as equipment ages). If you own one of these furnaces, half your fuel bill may be for waste heat that’s vented up the flue! By contrast, today’s modern high efficiency furnaces and boilers convert more than 90% of your gas into heat for your home.
Source: www.serviceroundtable.com
