How Much Does it Cost to Install a New Furnace?

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How Much Does it Cost to Install a New Furnace?

We don’t need to remind anyone who calls Indiana home just how cold it can get in the winter. While the winter season is one of the reasons living in the Midwest is so charming, it is also a good reminder of how important your home’s furnace is. In short, a furnace that is not working properly or is in need of replacement can be a big problem. Masters Heating & Cooling has been handling heating demands for our customers since 1980 and we know HVAC equipment is not cheap. So, if you find yourself in the tough position of having to invest in a new furnace, rest assured we are here to help.

HEATING REPLACEMENT

The first thing you need to do is determine which type of furnace you need. It has likely been awhile since you have purchased a furnace (if ever) because most furnaces last between 15 and 20 years. This means that heating technology today is quite different than a few decades ago, especially in terms of efficiency. Sizing is also crucial; a unit that is too small or too big will not operate properly or efficiently. Sizing factors taken into consideration include square footage of homes, insulation levels and number/location of windows. That said, here are some options and a basic ballpark cost of each:

  • Gas furnace. The most common residential furnace is fueled by natural gas. A standard efficiency model will run you anywhere from $3,000 to $6,000.
  • Oil furnace. The predecessor to gas furnaces, they are still available, but are less efficient. Cost is $2,500 to $5,000.
  • Heat pump. This option is gaining in popularity because it can both heat and cool by relocating air from the home and replacing it with air from outside or – in the case of geothermal technology – the ground. Cost can range between $3,500 and $9,000.

INSTALLATION COSTS

Installation costs need to be considered because they can really inflate the overall total bill. Factors such as hard-to-reach ductwork or ductwork repairs/modifications, a complex floor plan or a larger, more energy efficient unit can increase costs significantly. The technician labor costs also figure in the total. Furnace installations should also come with two warranties to protect your investment. The first is a manufacturer’s warranty and the second is the warranty issued by the HVAC contractor who performed the installation. Make sure you get these warranties in writing and you understand exactly what each warranty covers and provides for.

NO TIME LIKE THE PRESENT

We know that HVAC equipment installations are a pain in the pocketbook, especially during this time of the year when the holidays are approaching. But if you are thinking about doing it, don’t wait. Some tax credits and other incentives may be ending at the year’s conclusion, so take that into consideration. Call us today and let us help you begin the process of furnace replacement. And remember: Masters gets there faster!