When installing a new furnace becomes more cost effective than fixing your old one, there are some important factors to consider. First, you need to research and find the right furnace for you, your house or business. The average lifespan of a furnace is between fifteen to twenty years and there are many options to choose from when looking for a new one.
There are natural gas furnaces and oil furnaces, but these tend to be less efficient especially if ductwork needs to be modified. Installing electric heat is another option, but sometimes is not the best option for large spaces because of its associated high energy costs. The heat pump which uses refrigerant coils so it can be used as an AC in the summer, is a great option, but not for extremely cold climates.
When considering cost, you need to look at furnace efficiency analyzing their heat output or considering investing in a 2 stage furnace. A 2 stage furnace is great at preventing generated heat going to waste therefore meaning a decrease in utility costs. Work out how much it will cost to operate your new furnace per year and see if you are comfortable with the cost.
Next, consider the cost of the furnace you have chosen and what the labor costs will be to install it. Then, decide if you will want to purchase a warranty from the manufacturer or contractor. Always do your research, call stores and HVAC contractors, read reviews and make price comparisons.