Furnace cost varies, but homeowners want a reliable source to help with prices. What’s a reasonable price for a furnace? For every homeowner, the price of a furnace depends on a few different factors. However, there are a couple of trends to know about before you take the leap.
In Cincinnati, Ohio, Thomas & Galbraith helps sort through all the information out there. We tell you about the different kinds of furnaces, how much each of them cost, and how to spend less on heat in the long run. Plus, we let you know what pitfalls to look out for and how to avoid them.
Furnaces come in three main types. The furnaces use different forms of energy to work. This impacts the furnace cost, but the systems themselves have their own price points. Maintenance and initial cost are both important to consider when you pick a furnace. Think about where you want your money to go when you decide on a furnace type.
Oil furnaces are the rarest of the three types. Because of the negative impact oil has on the environment, these units are the most expensive to purchase and maintain. As oil supplies deplete, the cost becomes higher and higher. This means upkeep becomes more expensive the longer you have the system.
These systems usually cost between the low thousands and the high thousands. In some cases, the unit itself—without installation—costs well over a few thousand dollars. With the installation, prices reach the high thousands. The furnace cost also doesn’t reflect well on their lifespan. Oil systems only last between 16 and 20 years.
One major benefit lies with the oil itself. Compared to natural gas, oil is less flammable. This makes the system a little bit safer than a gas furnace on this front.
Electric furnaces are the second most common type. Most homeowners in warmer areas have an electric furnace. Places, where winters are harsh, don’t benefit much from electric furnaces because they take a long time to heat an entire home. However, for those places with mild winters, an electric furnace works extremely well.
The furnace cost falls right in the middle of oil and gas systems. Most electric furnaces—without installation—cost a few hundred dollars to the low thousands. With installation, the price doesn’t go much higher than the low thousands. Upkeep does cost more than a gas furnace, but this depends on how much electricity costs in your area. In general, homeowners fix issues with electric furnaces on their own, which also lowers maintenance costs.
Of course, there is always a chance you use the furnace more than you expect. In these cases, you end up with a higher utility bill. Still, these systems last up to 30 years, which is the longest out of all three systems.
Finally, natural gas furnaces are the most common kind of furnace. For those in places with harsh or long-lasting winters, a gas furnace provides constant warmth with relative speed. The furnace cost itself ranges in the low thousands and doesn’t reach much higher even after installation. Problems with a well-maintained gas furnace are rare but are easy for homeowners troubleshoot before calling for help.
Additionally, gas furnaces have a lifespan of approximately 10 to 20 years. Over the course of its life, the homeowners must purchase gas to power the system. The cost of natural gas varies per location, but in general, it costs less than electric furnaces. The downside here stems from the environmental impact of the gas.
Similarly, homeowners must monitor their gas systems more closely because of the risk of gas leaks. Gas is combustible and flammable, so it’s important to check for leaks often. Lastly, homes without gas lines receive an additional charge to install a line.
Remember to think about all aspects of the furnace before you make a decision. Do you want to spend a higher upfront cost? Or do you want to spend more on upkeep? These are important questions to ask yourself before you pick out a new furnace. Also, consider the availability of gas and oil in the future. Because these are nonrenewable resources, the costs of operation are likely to increase over the years.
Efficient furnaces cost less over long periods of time. When the furnace is efficient, it uses less power, which lowers costs no matter which power source you use. Pick a furnace with the newest technology to ensure its efficiency. Luckily, if you are in the market for a new furnace, whichever one you pick has more efficiency than the one you replace. New technology for furnace efficiency is made every year, so you automatically receive a more efficient model.
These are the best ways to keep your furnace efficient and lower the furnace cost overall.
The cost of labor depends on the particular contractor you hire. Some have lower prices than others, but may not provide the quality of products and services you need. Always check the credibility of the contractor before you hire them. Remember, labor costs cover more than just installation. Here are some things to keep in mind when you think about labor costs.
Lastly, furnace installations may have some miscellaneous costs. These are optional costs but are helpful to the overall system. Because of this, they require careful consideration.
The furnace cost debate worries homeowners, but with the information above, they have nothing to fear. In Cincinnati, Ohio, Thomas & Galbraith helps homeowners figure out how to pick the right furnace for them.
Give us a call today to learn more!