If you’re planning to stay in your home for awhile then it’s pretty much guaranteed you’re going to need to pay to replace the furnace at some point. Consider that you’ll need to account for both installation and the cost of the furnace itself. Both of these costs will depend on what brand you purchase and who you hire. There are also cost distinctions depending on whether you purchase a gas furnace or an electric furnace. Top 3 ways to build a very successful marketing strategy with the given capital
According to Home Advisor, these are the prices you can expect:
Average gas furnace cost: $1,215
Average gas furnace installation cost: $2,370
Average electric furnace cost: $665
Average electric furnace installation cost: $1,950
Altogether, a new home furnace —with system plus installation—will probably run you anywhere from about $2,530 to just over $6,000.
How to Choose a New Furnace
When it’s time to buy a new furnace, you’ll want to make sure that you buy one that is the right fit for both your home and your budget. Here are some of the pros and cons to keep in mind when deciding between a gas vs. electric furnace for your house.
- More expensive to purchase and install, but lower fuel costs over time.
- More energy efficient than an electric furnace.
- Requires semi-regular maintenance and upkeep.
- Better for colder climates.
- Less expensive to purchase and install, but higher energy costs over time.
- Quieter to run than a gas furnace.
- Not as energy efficient as a gas furnace.
- Requires easier and less frequent maintenance.
- Better for warmer climates.
- Can last a bit longer than gas furnace—up to 30 years.
Gas furnaces are more popular than their electric counterparts. Forty-seven percent of U.S. households rely on gas furnaces, compared to 36% who use electric ones, according to the U.S. Energy Information Administration’s 2015 Residential Energy Consumption Survey. (The other percent use electric heat pumps, or do not have a heating system in their home at all.)
Do your research when figuring out the best furnace replacement option for your house, taking into account both energy efficiency and your unique heating needs. Note that low-energy furnaces are available and will save you on your utility bills over time, though they cost a bit more up front.
Who Should Install Your Furnace?
Both gas and electric furnaces require professional Labor to install. As previously mentioned, it’s one of the main factors you’ll have to consider when determining your new home furnace cost, and fees generally run higher than the cost of the furnace itself. High labor fees are due to the experience required to properly install a furnace, plus the install can take as long as eight hours from start to finish.
If you already have a heating and cooling professional who works on your home then they should be the first person or company you go to when you’re looking for a furnace install. Ask about pricing, as well as warranty information. You may also want to reach out to them before purchasing a furnace, as they might be able to guide you to your best option.
If you don’t already have someone who you can call, your best plan of attack is to start with referrals and online reviews. Take a look at our article on eight ways to find a handyman, plumber, or other service provider which provides additional guidance that will come in handy during your search.
As we recommend with any service that you hire, narrow down your choices to a few good picks and then reach out and get quotes from all of them. That way, you can be sure that you’re not spending more than you have to on your furnace install.
The cost to install a new home furnace definitely isn’t cheap, but it is worth it. Heat is important, after all, and the new furnace you put in will last you for at least 15 years—and even longer if you practice regular maintenance, look out for signs of trouble, and take good care of it.