No one wants to spend money on a new furnace – until they jump out of bed on a freezing morning and find they have no heat.
Replacing a furnace is a large investment, and most of us would like to keep ours running as long as possible, even as the repair bills start adding up. However, there comes a time when replacing a furnace makes more sense than repairing it. In fact, a high efficiency furnace could actually pay for itself if you consider the money saved on heating bills.
There are ways to gauge whether a furnace is worth repairing. The chart below graphs the cost of the repair and age of equipment to show when a new furnace should be considered.
Nicor Gas has also outlined several issues that should be considered when deciding to replace your furnace with a high efficiency model:
- Cracked Heat Exchanger. The heat exchanger is the only barrier between the exhaust gas (carbon monoxide) and your home air. A crack could lead to dangerous levels of carbon monoxide in your home. Replacing the heat exchanger could cost as much or more than replacing the entire furnace.
- Faulty Circuit Board. This is the “brain” of the furnace. It controls the functions and monitors the operation of the furnace. Replacing the circuit board could cost about $1,000. Depending on the age and efficiency of the furnace, replacing the furnace would likely be a cost-saving option.
- Broken Motor. It is the furnace motor that powers the fan that pushes hot air through the home. When the motor is not operating correctly, the heated air cannot get to all of the rooms of your home, which not only affects the comfort of your family, but also wastes energy (and money). Installing a new furnace with a variable speed fan will not only improve the unit’s efficiency, but improve your home’s air quality.
For more information on keeping your home warm in the winter (and cool in the summer) call TR Miller at (630) 357-4373. They will evaluate your system and give you an honest answer about whether to repair or replace your current unit. Great offers available with ComEd and Nicor Rebates – see information here or give us a call.
And don’t forget to schedule your Furnace Clean & Check (if you don’t need a new system!) Special Facebook Coupon available. Grab it here.