When an older furnace needs repair, it’s important to stop and assess the situation. Is it really worth repairing it? Would you be better off getting a new heating system, if your furnace is old enough that it probably won’t last much longer anyway? How can you tell? There are a couple of different methods for determining whether a furnace should be repaired, or if replacement would be a better choice.
The 50% Rule
This method is straightforward. You only need to know two things: the estimated cost of the repair your furnace currently needs, and the approximate cost of purchasing a new furnace. If the repair would cost more than 50% of a new furnace, you’re better off replacing the system. If the repair would cost less than 50%, having the system fixed should be worthwhile.
While this is appealing in its simplicity, it can also miss the mark. It simply doesn’t take much into account. How about we consider another method?
The 5000 Rule
Again, you only need two pieces of information. The first is, again, the repair cost estimate. The second is the age of your furnace. When you multiply these numbers together, a result below 5000 indicates that the repair is worthwhile, and a result over 5000 indicates that replacement is preferable.
Here’s an example. If your furnace is five years old, and the repair would cost five hundred dollars, your result is 2,500. The furnace would be likely to last another decade, and is worth investing in. If your furnace is ten years old, and the repair would cost eight hundred dollars, your result is 8,000. That repair would be too much money to put into a furnace that is already past middle age.
Other Factors to Consider
If you use one or both of these methods and still find that you’re uncertain, because your results are close to 50% or 5000, consider some other factors.
- Maintenance: Only if a furnace receives maintenance every single year is it likely to make it to the lifespan it is supposed to be able to enjoy. A heating system that doesn’t get regular service will age much more quickly. The better-maintained your furnace is, the more worthwhile a repair will be.
- Efficiency: That maintenance will keep a heating system’s efficiency steady for many years. Eventually, though, minor wear and tear will add up so much that even annual maintenance can’t keep the efficiency from dropping. If you’ve been noticing rising utility bills as your furnace ages, a new system might be your best choice.
- Repair Frequency: The repair your furnace currently needs might not be too expensive. But what if it needs another one later this winter? If you’ve been requiring heating system repair most years, your furnace is giving in to the pressures of many years of providing heat, and will only be needing repairs more and more frequently in the future.
Whether you want to schedule a repair or you’re ready for furnace replacement in Shreveport, LA, our team will make sure you get the care you need.
Contact us today to discuss heating system installation or any other HVAC needs.