Upgrading Your Furnace? Consider Lifetime Costs To Determine Long-Term Savings

Upgrading Your Furnace? Consider Lifetime Costs To Determine Long-Term Savings

When you are considering a furnace upgrade or you are installing a new furnace in a new house, one of the biggest factors to take into consideration is the lifetime costs associated with that particular unit. While many homeowners are tempted to think about the initial purchase and installation price of a system, this may account for as little as 5 percent of your total costs after 15 years, the average life expectancy of a furnace.

HVAC experts compose lifetime cost analyses to help you compare the various long-term costs that come along with the purchase of new heating equipment. Annual inspections, operational costs and repairs are all taken into consideration when looking at all the influencing factors. Comparing the analyses for different furnaces will help you reach the best solution for your home’s heating needs. There are three primary factors used when analyzing lifetime costs:

  • Cost of ownership
  • The amount of time used to evaluate different furnaces
  • A projection of future energy costs

Some homeowners opt to try to boost their furnace by replacing outdated key parts with modern, more efficient ones rather than going for the whole furnace upgrade. This is a practice known as retrofitting and may work as a short-term solution. But these components are often not built to last a long time. If you plan on staying in the home you live in for more than two years, it will probably be more cost-effective to get an entire upgrade, because you will have to spend money replacing those parts once they wear down. Even if you do plan on moving soon, a new furnace can boost the resale value of your home.

To learn more about lifetime costs that come along with a furnace upgrade or a new installation, contact Roth Heating & Cooling, Plumbing & Electrical today at (503) 994-9924. We have proudly served Portland since 1976.

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