When a furnace breaks down, the owner may question whether it’s a better decision to repair it or replace it? Several factors should be considered when weighing the financial and comfort impacts of this decision. The following will help you best examine the situation to make the right call for your family, business, or tenants.
How old is the furnace? Generally, furnaces have a service life of 15 to 20 years. If the furnace is newer, warranty coverage may apply to cover certain repair costs. Making lesser repairs to newer units is typically chosen, as there is still many years of service expected from the unit. Regarding older units, funds may be wiser spent investing in a new furnace rather than repairing an aging system. If a furnace is over 75% of its expected service life, consider replacement.
How has the furnace been maintained? Furnace service life can be greatly affected by preventative maintenance and filter changes, or lack thereof. Neglecting maintenance augments the effects of wear and tear to the system, damaging numerous components and decreasing system efficiency. If the furnace has been poorly maintained over the years, it’s more likely to suffer multiple and more frequent breakdowns. Starting over with a new, high-efficiency furnace upgrade – and an annual preventative maintenance agreement with your HVAC contractor – may be the best decision when weighed with other factors.
Expense of needed repairs Repairing a furnace can be costly, especially when replacing major system components. You’ll need to weigh whether your funds are best spent repairing the existing unit, or investing in an upgraded new furnace. If the cost of repairs is greater than a third of replacement costs, and your unit is older, replacing the furnace is often the best route to take.
The above factors offer the information you need to settle the repair or replace question. Evaluate them individually and together to make the best decision for your situation.
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