Furnace Repair Might be More Expensive than Furnace Replacement
It’s a decision most homeowners will have to make at one time or another, spend money on furnace repair or furnace replacement. Too often, we hear people opting for repairing their system because they believe it’s the most cost-effective solution, but often it actually makes more financial sense to replace their old, inefficient unit with a new upgraded system.
While you might only be paying a few hundred dollars for furnace repair, if you’re constantly calling for service, those bills can quickly add up. If you’re debating whether to repair or replace your system, take a look at the recent service history and calculate how much you’ve spent on repairs over the last few years. You might be surprised at just how much money you’ve invested into your aging system.
Repairs Not Covered
With a new system, certain replacement parts are covered by a manufacturer’s warranty. If a warranted component needs to be replaced, they are provided free-of-charge; however, when the warranty expires, homeowners are responsible for all expenses. If your system is out of warranty and the furnace requires repairs it is an immediate cost.
Newer systems use better technology. That means they require less energy to heat the same amount of space and homeowners can expect to see a drop in their monthly energy bills. Over time, this can add up, helping to keep more money in your pocket. If you’ve noticed a significant increase in your hydro and gas bills or if your furnace is making some new noises, it is worth considering upgrading your system.
While it might seem that choosing furnace repair over furnace replacement is the more affordable option, sometimes it can actually be more costly in the big picture. If you’re debating installing a new heating system, contact HAMCO Heating & Cooling Ltd. for a free in-home quote. We’ll assess your current system, recommend a new furnace and can even help you with any rebates or manufacturer incentives that you’re eligible to receive.
For over 70 years, HAMCO Heating & Cooling Ltd. has been proudly serving Hamilton, Burlington, Oakville and surrounding areas. We believe in building relationships with our clients and exceeding their expectations.