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Should You Repair Your Old Furnace Or Buy A New One?

 

When it comes to your furnace, it is important to make an informed decision regarding whether to repair a broken one or to replace it. On one hand, fixing a furnace can cost less money in the short term, but in the long run, repairs can end up costing more than if you’d replaced the furnace to begin with.

If you’re having problems with your furnace, consider these factors before making a decision.


Age

Furnaces typically last for 15 to 20 years, so keep in mind the age of your furnace if you’re facing significant repairs. If it’s more than ten years old, you should carefully consider anything other than a minor repair. And the older your furnace gets, the lower your limits of repair spending should be.

Cost of Repairs

As a furnace ages, you should also think about the cost of the repair. For example, on a 15-year-old furnace, if a repair costs 25% or more of what you would spend to replace the furnace, repair is likely not a wise investment. However, if your furnace is only a few years old, it may very well be in your best financial interest to make the more expensive repairs, rather than opt for replacement. As a general rule, a homeowner should consider repairs totaling more than 30% of the cost of a new furnace only when the furnace is less than seven years old or newer.


Efficiency

The efficiency of your furnace is another important factor to examine when you’re deciding whether to repair or replace. If your older furnace has an AFUE (Annual Fuel Utilization Efficiency) rating of 80 or 85%, upgrading to a higher efficiency furnace rated 93% or higher will lower your monthly utility bill.

Nature of the Repair

There are some components to a furnace whose failure is considered more catastrophic than others, like the heat exchanger. If a costly part has failed on an older furnace, the heat exchanger should be thoroughly inspected and tested before proceeding with the repair because if it’s cracked or nearing failure, the expense to repair it would meet or exceed the cost to replace the entire furnace.

A furnace plays a vital role in keeping your family safe and warm in the winter, so it’s important to consider your options when you have problems. While you should rely on a qualified HVAC company to inform your decision, understanding the factors involved will help you reach a better solution. Call or visit www.MorrisonHVAC.com for more information on furnace repairs in Marietta, OH today.