Usually the only time people think about the costs of a furnace and installation is at the most unfortunate of times — when it goes out during a blizzard and your family is left huddled and shivering around a sole space heater, breathing out misty vapors into the chill air of your house, passionately lamenting not having it inspected this year. If your furnace is between 15-20 years old, it’s right at the age that warrants serious thought about replacement. We’ll examine what sort of costs to expect depending on the factors involved.
Cost of a Furnace
The cost of a furnace will usually land between $2,000-$5,000, whether that’s gas, oil, or heat pump. It can go much higher, or even lower than that depending on brand, discounts, credits, etc. But that’s going to give you a rough idea of how much to expect to pay for the unit itself. Keep in mind that if you want a super high efficiency one, you might have to pay a one or two thousand dollar premium on top of that.
Depending on where you live and what utilities are available, that will influence what option to choose. If you live in an area with extremely cold winters and a venerable oil distribution infrastructure, it makes sense to go with oil. If you live in a more mild climate where the winters aren’t too harsh, you might want to look into a heat pump. The heat pump can also function as air conditioning during the summer months, which makes for an economical choice.
Associated Costs of Installation
The associated installation costs is where the bill can get high depending on what you need done. A straight replacement, without having to run new utility lines, ductwork or do any fabrication is naturally going to be less than an installation that does need that. If you need to put new ductwork in, or do any customization, the costs can quickly reach into the tens of thousands.
You can plan on the furnace installation taking at least one day, two for larger or more complex installs. For budgeting purposes, plan on around $1,000/day for labor costs.
When discussing the installation be sure to ask the representative about building permits and debris removal fees. A lot of contractors will include those costs in their quotes, but some do not.
Also find out about any discounts, rebates, or refunds you may get or are qualified for. In some counties you qualify for tax breaks or discounted prices depending on the efficiency of the furnace.
With smart planning and economical choices installing a new furnace doesn’t have to break the bank. Be sure to follow the Allison Air Conditioning blog for all the latest HVAC information.