Wondering how to know when to replace a current furnace with a newer, younger version? It ultimately boils down to a matter of budget, efficiency, and need. Purchasing a new furnace is no small decision, since a furnace (whether gas, electric, oil, or propane) can run you between $2,500 or upwards of $5,000. In this article, we give you insights to help you make more informed decisions about whether or not it’s time to replace your furnace.
At furnaceguys, we understand that staying within budget when replacing your home’s current furnace is important. That is why we’re more than happy to offer homeowners a selection of discounts and financing options that can help alleviate costs and the financial stress that comes with upgrading their home comfort!
Want to learn more about your options? Book a consultation with a home comfort advisor today! All consultations include a complimentary new system purchase quote!
What is the typical lifespan of a furnace?
A furnace that is well-maintained and looked after can typically work reliably for between 15-20 years, and even more with the right care and attention. However, we advise you to acknowledge the age of your furnace unit to ensure that you are paying attention to any signs of wear and tear. Issues with a newer furnace may be easily remedied, but issues with an older furnace may be an indication that it will soon require a total replacement.
How efficient is a 20-year-old furnace?
The short answer: not nearly as efficient as a brand new furnace. The older a furnace gets, the likelier it is to start to wear down and become less efficient. There’s no exact way to say specifically how less efficient a 20-year-old furnace is depending on its make, annual maintenance appointments, and the thermal requirements of the home it’s in, but you can certainly expect it to not be as efficient as a newer furnace. It might even be half as efficient as your newer units.
To note: the heating and cooling processes in your home generally account for around two thirds of total household electricity consumption. An older appliance, such as a 20-year-old furnace, may be taking nearly twice the effort of a newer furnace to generate heat for your home, thereby increasing your electricity consumption (and consequently your energy bill.) The wisest thing you can do when your furnace is getting up in years is to consult with a technician and discuss a potential replacement.
How do you know when it’s time to replace your furnace?
There are a couple of “signs and symptoms” of a furnace that might be starting to deteriorate. If you notice any of the symptoms listed below in a younger furnace of 3-7 years, it may only require a repair job to fix up. However, if the issues are persistent and your furnace is getting up in years (and the cost to repair the furnace is exceeding what it would take to purchase an entirely new unit) it may be time to consider getting a replacement.
Here are some of the key symptoms to pay mind to:
Strange noises or smells
This is applicable for gas-powered or oil/propane furnaces: if you notice any peculiar sounds or smell any odd odours, this may be an indication that your furnace is not working efficiently. Parts could be loose, causing clanging and banging, or it could be a sign of a more major issue: a gas leak. As the latter issue can be a health risk to you and your household, we advise calling up your local technician ASAP.
Uneven temperature
Do you notice any odd cold spots or uneven hot spots in your home? Is one of your rooms an icebox, whereas another is strangely much hotter? This may mean that your furnace is struggling to efficiently disperse heat throughout your home and therefore may be starting to become inefficient. Call a technician to diagnose the issue and discuss a possible replacement.
Heightened energy bills
As your furnace starts to age, it will become less efficient. You can mitigate this process by scheduling regular furnace maintenance, but all the same, it will age, despite your best efforts. If your furnace is getting up there in years and you notice your energy bills are higher despite no change in usage, call a technician. Sometimes, extremely cold winters are the cause of hiked energy bills, so make sure to analyze the trends to be sure it isn’t just an unexpected cold snap.
Frequent costly repairs
Are you needing to repair your furnace more frequently than your typical one-year tuneup? In the last 2 years of its useful life, a furnace will generally require the most repairs. Take a look at how much you’ve invested in your furnace’s repairs and its age. If the cost of repairs is 50% or more than the cost of a new, higher-efficiency furnace unit, it’s probably time to schedule a replacement.
The benefits of replacing your older furnace
It’s never easy to say goodbye, and yes - a furnace is a big replacement, but it’s not the be-all end-all! There are multiple benefits to replacing a furnace with a brand-new, higher-efficiency unit. Those are as follows:
Enhanced reliability
An older furnace is likely to break down, and during a cold snap in the middle of the winter, that’s not something you or your family want to happen. New units don’t require as many repairs and are less likely to require an emergency replacement or repair job.
Increased efficiency
Having a newer unit means increased efficiency, which means you’ll need to spend less on your energy bills and the overall operating costs will help you save in the long-term.
Improved comfort
A newer system will be far better than an older system at circulating warm air and maintaining a consistent temperature throughout the entire home. No more random “ghost spots” in your home!
Better indoor air quality
An older furnace may cause your air to become drier and dustier. Newer units circulate and filter air more reliably, meaning they’re better for indoor air quality.
If you think it’s time to schedule a furnace replacement, or you want to ask a technician what their opinion is, give furnaceguys a call today.
We’re available 24/7/365 days a year! That includes after-hours, weekends, and holidays at no additional cost! Furthermore, if you’re interested in saving money on your new equipment, make sure to ask us about our current discounts and financing options so you can save money on your new equipment!
Call and schedule a consultation appointment today! All in-home consultation appointments include a free new system purchase quote!
