The tough part about owning a furnace is knowing when to let go. There are plenty of reasons why you'd want to hold on to your old furnace, but there are just as many reasons to give it the send-off it deserves. Here are 4 good reasons why you should replace your furnace with a newer and more energy-efficient heating and cooling model sooner rather than later.
#1: Your Furnace is Well Past It's Projected Lifespan
One good reason to say goodbye to your old furnace is because it has exceeded its life expectancy. A typical furnace has a lifespan of 16 to 20 years, although it's not unusual to see furnaces last for 30 years or more. It all depends on how well you maintained the system throughout its life and the conditions under which it operated.
Most experts recommend looking into a furnace replacement around the 15-year mark. Under most circumstances, this should give you plenty of time to invest in a brand-new furnace before your old one breaks down.
#2: The Cost of Repairs Now Exceed the Cost of a New Furnace
According to the most recent statistics from HomeAdvisor, the average homeowner spends an average of $268 on furnace repairs. That doesn't seem like much money for the occasional emergency repair, but those costs can quickly add up when dealing with frequent breakdowns.
Meanwhile, it costs an average of $3,940 to purchase and install a brand-new furnace. Most experts recommend purchasing a brand-new furnace once the repair costs for your old one exceeds 50 percent of the cost of a new furnace. This way, you won't find yourself spending money hand over fist on your old furnace.
#3: You're Dealing with Regular Heat Outages
What good is keeping your old furnace around if you can't use it most of the time? It's a good question to ask yourself if your furnace constantly breaks down on you, especially during times when you need it the most. If you can't keep your home warm because of constant furnace breakdowns, then you should probably consider a more reliable replacement.
#4: Your Furnace is Endangering Your Health
Believe it or not, your old furnace can also be bad for your health. Serious furnace malfunctions, such as a cracked heat exchanger, can lead to combustion gases leaking out of the furnace and into your living spaces. Among these gases is carbon monoxide, a gas that's undetectable by smell, odor, or taste. Carbon monoxide poisoning can be potentially fatal, especially if precautions aren't taken to prevent it from happening.