Now that the heating season is upon us, many homeowners with older furnaces ponder this question. The old adage of not replacing anything if it still works is still believed by many. Statistically, the vast majority of furnaces are replaced even though the old ones are still functioning.
Upgrading Your Furnace
The most common reasons for upgrading are:
- Proactive – Furnaces don’t last forever so plan to replace it before a major breakdown forces you to do it. This allows for an intelligent buying decision as opposed to a panic decision.
- Expensive Repairs – Once the warranty has expired and you are faced with expensive repairs, you should consider replacement. The repair cost will reduce the purchase price of the new unit and the new warranty will protect you from any future repairs for up to 10 years.
- Cracked Heat Exchanger – This allows carbon monoxide to enter your living area via the ductwork. This is a dangerous condition that requires replacement.
- Efficiency – Probably the most compelling reason to replace an older furnace (other than a cracked heat exchanger). In some cases, your heating costs can be cut by up to 40%. Many of the newer furnaces will greatly improve your overall comfort due to variable speed motors and modulating gas valves.
- Rebates – Furnaces that have an AFUE rating over 95% are eligible for utility rebates and cash back from the manufacturer.