If you are in the market for a new furnace you may at first be overwhelmed by the range of heating systems available to choose from. All of these options may make you wonder, how much do new furnaces cost? The cost of a furnace system depends on a lot of factors, such as the type of heating and the materials used in manufacturing. A new furnace may have a more expensive cost upfront, but save you money on fuel usage over the years, so it is important to consider all of the different cost factors in order to get a good return on your investment. In this article, we will give you a better idea of how much a new furnace costs and what the prices mean.
How much does the average furnace cost?
While the range of prices for new furnaces can vary, the average price for a new furnace is generally between $2,000 and $5,000 with most people spending $3,000. This may seem like a lot of money at first, but when compared to the rate of return over time in decreased heating bills it is definitely worth it to replace a broken or inefficient old furnace. Having a reliable source of heat is essential to your wellbeing and the wellbeing of your family, especially during the cold months; so it is worth it to invest in a quality heating system.
What factors contribute to the cost of the furnace?
Why are some furnaces more expensive than others? The main factors that will affect how much new furnaces cost or heating system are the brand of the furnace, the efficiency of the furnace, and the complexity of installation. The cost of the furnace is usually reflective of the quality of the system, but that does not mean that you have to go with the most expensive model on the market to have great results with a new furnace.
The brand
The brand of the furnace is important for several reasons. The manufacturer may include a factory warranty with the purchase of the furnace that will vary from brand to brand. While the look of the furnace may be less important to most people, the variations in design can affect how easy it is to maintain the furnace.
Different brands may use different materials from different sources and make you wonder, how much do new furnaces cost?. A furnace with ethically sourced high-quality materials from a reputable brand with a comprehensive warranty included will be more expensive than an off-brand furnace. However, just like with anything else, the brand name does not necessarily guarantee to mean it is better in quality, so you should always check the certifications of the brand. Looking at reviews for furnace brands can help you get a better idea of what to expect from different brands.
The efficiency
New furnaces can utilize up to 99% of fuel, as compared to old furnaces which only use about 80% of the fuel and waste 20%. That 20% wasted adds up to hundreds and thousands of dollars over the years, which is why a lot of times it is more cost-effective to just replace an entire furnace with a new efficient one. In general, a more efficient model may have a higher price tag.
This is because of the engineering that goes into creating these high-tech models, as well as the materials used in creating the furnace. Spending a little bit more money to get a more efficient model may help you save money in the long run. Cutting corners when it comes to quality will almost always leave you with regrets, so choose an efficient furnace that does not waste energy.
The installation
Unless you are yourself a confidently trained heating technician, it is not wise to attempt the installation yourself. Beyond the risk of damaging the furnace and voiding the factory warranty on the product, you will risk hurting yourself and damaging your property if you try installing the furnace on your own. Since you will be leaving the installation up to the professionals you will want to include the cost of installation as you plan for the what to expect from the overall cost of a new furnace. The weight and size of the furnace will contribute to the cost of installation, as well as the complexity of the hardwiring.
Sometimes company manufacturers also have approved installers who are trained to install the model you have purchased. In this case, the installation cost will be included with the furnace purchase. If the same company that makes the furnace also oversees the installation through their company directly or through a trusted heating service that is approved by the company, you will not be voiding out the warranty during the installation process which is definitely a plus.
The system
What kind of heating system will also determine the price. Traditional gas heaters average at about $1,200 to $2,400. Gas heaters are large and require quite a bit of installation manpower. The initial cost of a gas heater is more than that of an electric heater, which averages between $700 and $2,000, but a gas heater uses less expensive fuel than electricity. Electricity will cost slightly more over time, which may make a natural gas furnace the better investment out of the two. Electric furnaces also typically last longer than a gas furnace.
Another common kind of furnace is an oil furnace. The installation cost for an oil furnace is about the same as a natural gas furnace. The price of oil can rise and fall drastically which makes it hard to predict the costs of future bills. Oil furnaces will require professional installation and maintenance; but are very long-lasting so you will not have to worry about replacing it for a very long time. Oil is a very efficient form of heating that will offer powerful protection from the cold in your household.
Summary
There are four main factors that will answer the question: how much do new furnaces cost?. These factors are: what kind of heating system you choose, how efficient the model is, how complex the installation is, and what brand makes the furnace. A new furnace will cost you at about $1,000 on the low end, and up to $5,000 on the high end. A pricier furnace should be more efficient in the long-run in order for it to be worth the extra money. There are plenty of furnaces within the moderate price range to meet any home requirements.