How much does a furnace cost?
September 9, 2014
With the increasing focus of all consumers on reducing household costs, furnace buyers are no different. We get calls from potential customers “doing their homework” on purchasing a furnace. Unfortunately, very few of them are focused on the right things.
What are they focused on? How much the furnace costs. What should they be focused on? Reliability, warranty, and operating costs. Why do we say this? Because the difference between furnaces is usually less than $600, and the costs you can pay for breakdowns and inefficiencies over time will exceed thousands of dollars.
So, first is reliability. If your furnace is less likely to break down, you avoid costly repair bills, even if it’s under warranty (since standard warranty covers only parts). We’ve posted statistics from independent sources (Consumer Reports) on the most reliable brands. See the chart below.
As we talked about above, standard warranty is currently 10 years parts, 1 year labour. Although the parts that fail will be covered, the cost to diagnose, remove and replace is not. Ask your sales person how much it would be to purchase 10 year parts and labour warranty. You may find it is included in your price.
Finally, why are operating costs so important? The math on this is fairly straight forward. A 92% efficient furnace may cost you $500 less, but even at current natural gas prices, the difference in gas costs for the year is probably around $100. Take that over the 15 year life of the furnace, and you’ve got $1500 – over three times what the increased efficiency costs.
If you take the reduced labour repairs,($500-$900), and the reduced gas costs ($1500), you’ve easily justified the extra $600! So, if you’re really interested in paying the lowest cost for a furnace, look past the cost of the equipment, and focus on reliability, warranty, and efficiency. Your wallet will be happy you did.
If you have any questions, concerns or require additional information please feel free to comment below or contact us at any of the sources provided. firstname.lastname@example.org, 519.579.5330, Twitter @HoggMechanical, Facebook Hogg Heating & Air Conditioning
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