How Much Does It Cost To Replace A Furnace?

Having to do a furnace replacement isn't an enjoyable project. Several factors go into the process and how it's going to affect your pocketbook. With that being said, how much does it cost to replace a furnace? We have researched on your behalf to give you an idea!

On average, you can expect to pay anywhere between $2,500 and $7,000 for a furnace replacement in your home. That seems like a significant price range, but several variants determine the price. For example, the size of the home, the brand of the furnace, and labor costs are all going to determine what you will have to pay for the replacement.

As you can see, there is a lot that goes into making a furnace purchase. However, it is necessary to do so for many reasons. In this article, we will discuss the costs that go into getting a new furnace. In addition, we will take a look at the signs that your furnace may need to be replaced, so read on!

Newly installed gas furnace in new home, How Much Does It Cost To Replace A Furnace?

How Much Does It Cost To Replace A Furnace?

It can be wise to have your furnace replaced by a company that will do the work for you in most cases. Of course, hiring someone to do the job for you will add significantly to the cost of your replacement, but there are several benefits, including peace of mind and time management.

A local contractor will provide you with an overall estimate of the cost after visiting your home and getting a good idea of what needs to be done. On average, you can expect to spend anywhere between $2,500 and $7000.

Keep in mind that this is a general estimate and cost. Other factors will affect the final price range, including the home's size, the furnace's brand, type of furnace, and labor costs. The bigger your home is, the more it will cost to replace your furnace. For example, if you have a large home, this will increase the price of the replacement.

The brand of furnace that you select will also affect the costs associated with replacing your heating system. If you purchase a top-brand furnace-like American Standard or Trane, you will likely pay more for the furnace. Since you are paying for brand recognition, it is an investment in quality and comfort that you can trust.

Another factor that will have a significant impact on the price of your furnace replacement is labor costs. This is due to the fact that installing a new furnace requires teamwork from several individuals who are experts in this field.

A boiler furnace in the basement of a hosue

Know The Age Of Your Furnace

First and foremost, you should know the age of your furnace. Most furnaces have a lifespan of fifteen to twenty years. After that time period, they run the chance of breaking down or not functioning correctly. Therefore, looking at what year you purchased your furnace will be an essential step in knowing whether or not you need to replace it.

Know The Model Of Your Furnace

You should know the model of your current furnace because it will be beneficial in determining what kind of new furnace you are going to buy. Each type of furnace has different specs and is made for various types of homes.

Know The Type Of Gas Or Oil You Need For Your House

It's also vital to know the type of gas or oil that you need for your furnace. You should know whether or not you have a gas or oil furnace because it will make the replacement process much more manageable.

Know The Repair History Of Your Furnace

Finally, knowing what kind of repairs your furnace has had in the past will benefit you. Knowing the history of your furnace is crucial to finding out what caused it to break down in the first place. If you know this information, you should buy a new model to fix the issue(s) present with your older furnace.

When you decide it is time to replace your furnace, don't be afraid to shop around! Comparing prices and repeatability of contractors is a sure way to get the best deal.

How Do you Know When your Furnace Needs to be Replaced?

An old furnace in the basement

Knowing when to change your furnace isn't always the easiest. However, there are some signs that you should watch for and even smell for! It may be time to replace your furnace if you notice the following:

Smells Like Burning

If you smell burning, your heating system may have a defect. It is wise to have the furnace looked at by a professional if this situation arises because there could be an issue with your furnace. Also, if you notice sparks, smoke, or strange smells coming from the vents of your furnace, call someone who can look into the matter right away.

Do You Hear Strange Noises?

Your heating system might make strange noises, which is another sign of needing to be replaced. For example, if you hear constant banging or clanking when your furnace turns on or off, it may need to be looked at by a professional for repair or replacement. Likewise, if the furnace makes a loud noise and shakes your home, it's time to call a trained professional.

Higher Electric Bill than Normal

Your electric bill may be higher than expected if you have a malfunctioning furnace. If your electric bill is abnormally high for this time of year, call someone to come and inspect the furnace unit.

Furnace Doesn't Turn On

If your furnace doesn't turn on at all, it could mean that there's an issue with the ventilation. Allowing your furnace to run without air intake can cause severe damage, which requires immediate repair or replacement. So if the furnace doesn't turn on at all, call someone immediately!

Furnace Is Old

If you know that your heating system has been working for a long time and it's old (15-20 years or more), then you probably need to go ahead and get a replacement furnace. For example, you might need to replace a furnace older than fifteen to twenty years old because it can break down or start acting up.

Rust or Cracks on Furnace

If you notice rust on the furnace or cracks, then you might need to replace your heating system. This is because it can cause carbon monoxide leaks or fires within the furnace unit. If this situation occurs, call someone immediately so they can fix it!

Humidity Problems in the House

Finally, if there are humidity problems in your house when it shouldn't be an issue, you might need a new furnace. This is another sign that could lead to you noticing other things wrong with the furnace. If the heater isn't working correctly and there's too high humidity inside your home, then it may mean you need to replace your furnace.

How Much will a New Furnace Save Me?

A furnace photographed under the living room, How To Turn On A Coleman Furnace

Getting a new furnace may be a shock when you see the upfront costs. However, in the long run, you will be happy with the return on your investment. For example, your old furnace may lose quite a bit of energy efficiency (20-40%) if you get a new furnace, which could be saved as much as $80 or more on annual fuel savings.

Can I get Money for my Old Furnace?

If you are looking to replace your furnace but don't want to pay out-of-pocket for a new model, it may be time to check into getting some cash for the old one. Some places buy used furnaces. For example, there are buying services available online and in local newsgroups!

Selling your old furnace instead of throwing it away can save you money and resources! First, however, it is essential to have a professional inspect the old furnace to ensure that it is still in safe and usable shape for resale.

How Long Does it Take to Remove and Install a Furnace?

Several factors go into the amount of time it takes to replace a furnace. For example, the size of the furnace, where it's located, and the laborer doing it. With that being said, expect 4 to 10 hours for a total furnace replacement!

Final Thoughts

A well-working furnace is important for keeping your home warm. While it can be pricey upfront, waiting too long to replace your furnace can cost you more. In addition, having a new furnace can add value if you have an interest in selling your home!

If you like this article, then you should also check out:

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How Often Should My Furnace Cycle?

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