Your furnace has broken down. Do you pay for a repair or is it time to replace the whole thing? The decision can be a big one as a lot of money is involved.
At Kingston Home Heating, we want you to be able to get the most out of your furnace. Read our guide on repairing vs replacing to learn more about which route you should go down with your furnace.
When Should You Repair vs Replace – Factors to Consider
There are a variety of factors that you need to consider when thinking about repairing vs replacing your furnace.
Age
As with any mechanical equipment, furnaces have a shelf life. The age of your furnace system can be a starting point for determining whether or not you should repair it or replace it. Furnaces tend to last somewhere between 15-20 years.
If your system is starting to get up there in age, you might be better off replacing it vs paying for repairs. The older it gets, the more repairs it will need. Eventually, it won’t be worth it. Replacing it sooner would have saved you so much more money.
Warranty
If your system is still under warranty, that should cover any repair costs.
If the warranty is expired, then you’ll be on the hook for expensive repairs. If your furnace system is aging, inefficient, or breaks down frequently, you should consider a replacement instead.
Cost of Repair
The cost of repairs for your furnace plays a big role in the debate of repair vs. replace. Many technicians will talk about the “5000 rule” when making the decision.
What is the 5000 Rule? Simply multiply the age by the cost and if the result is under $5,000, that’s when you should consider a repair; if it’s over $5,000, you’re better off buying a new unit.
Type of Repair
Another factor to consider is the type of repair that is needed. Generally, if you need any of the following repairs and your system is no longer under warranty, you should consider a replacement instead:
Evaporator coil replacement
Compressor replacement
Condenser fan motor replacement
Refrigerant leak repair
Moving Plans
Buying a new furnace is a significant investment. If you plan on moving within the next few years, it may not make sense to replace your furnace system unless it completely breaks down or poses a safety threat for your home or family.
However, if you have no plans to move, you can gain a lot more value from purchasing a new, energy-efficient furnace that helps to lower your energy consumption and won’t break down for the foreseeable future.
Time to Make a Decision
Hopefully, now you’re better equipped to decide whether to repair your furnace or replace it.
Whatever your choice is, Kingston Home Heating can be there to help you with the technical side. Our experienced technicians can affect any repairs you need and if you go for a replacement, you can rely on our team to install your new model. Contact us today for more information.
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