Introduction A furnace is a great investment when it comes to heating your home. When it fails, you can either consider repairing or replacing it. The latter choice is often better since you get the opportunity to install a more energy-efficient and economical design. Normally, it will cost you at least $5000 to fit a new furnace. This is quite expensive, so it’s shrewd to find ways to reduce the cost. If you are planning to replace your current furnace with a new design, probably you are asking if the replacement will save you money. The answer is YES and you should know why. For starters, a majority of old furnaces are about 80% energy efficient. So, there is a 20% room for improvement. What this means is that for every $100 you pay, $20 is waste. Nowadays, there are furnaces that guarantee about 95% energy efficiency. So, you are able to save some dollars once you upgrade. The other concern is the installation cost. It’s obvious that you have to dig deep into your pocket to spare $5000 or more for installing a new furnace. You should always find ways to save money without settling for low-quality installations. To cut the installation costs to about $2000 or thereabout, you have to look at all the angles where money is directed to. This includes the cost of buying a new furnace, the labor costs, among others. In this respect, here is a definitive guide to use.

Table of Contents  Saving on Buying a New Furnace. Saving on Buying a New Furnace  Saving on Labor Costs. Saving on Labor Costs  Other Cost-Saving Tips. Other Cost-Saving Tips  Closing Thoughts. Closing Thoughts

Saving on Buying a New Furnace There are several factors that affect the price of a new furnace, including: 1. Brand There are only a few furnace manufacturers on the market but their prices differ significantly. The top leaders include Amana, Bryant, Goodman, Trane, American Standard, and Lenox. In terms of pricing, a Goodman Furnace is the cheapest ($657), followed by Amana ($805) and Bryant ($917). The most expensive designs are American Standard ($1217) and Trane ($1237). If you are looking for a cheaper option, then you need to consider low-cost furnace brands such as Goodman and Amana. Of course, it’s advisable to consider if the features of the furnace suit your home needs. If this is the case, then you shouldn’t worry about selecting your brand of choice.

2. Type Furnaces are normally categorized according to the source of powering them. This factor highly dictates the cost of installing the heating feature. A majority of home furnaces are powered by natural gas. Ordinarily, such furnaces cost $2250- $3800 to purchase and install. The other common option is an electric furnace. In most cases, the buying price for such a design is $670 - $2000. However, such alternatives are not ideal, despite being cheaper, if you have a large space. Moreover, they come with high energy consumption costs. Even though we have oil powered designs, they are not as economical as gas powered and electric options. This is probably because of high oil prices. You may spend as high as $7000 on a single installation. So, they are not an ideal choice if you are looking to save Though the natural gas-powered furnaces may be slightly expensive to buy, the cost of heating them is reasonable. This makes them ideal for both small and large spaces. The secret is comparing the costs of the various brands to see what falls within your budget. You don’t have to go for an electric furnace just because it’s cheaper to buy. In the end, every other cost count and not just the buying price. The other saving tip is to consider a Green Furnace. These furnaces are not as popular as the other designs but they translate to massive savings in terms of energy after installation. They are referred to as ‘green’ because they are powered by eco-friendly energy sources such as solar power and geothermal. You may have to pay 5 times the cost of a gas-powered furnace but this will translate to thousands of dollars in annual saving. You can ask your local expert about these eco-friendly furnaces if you are willing to part with at least $20,000.

3. Features It’s tempting to spend more money on a furnace that comes with additional features. However, you don’t have to if you are looking to save on the installation cost. Actually, it does not make sense to pay for features that you don’t need or ones that you may never use. Some of the features that may elevate the cost of a furnace and may not be necessary to you include: AFUE (Annual Fuel Utilization Efficiency): This refers to the rate at which heating cost is saved. You have to buy a furnace that has a higher AFUE rating provided you can afford it. Two-stage operation: This is a situation where your furnace comes with two combustion chambers instead of one. It’s a great idea when you live in a place where the temperatures drop extremely low. Modulating valve: Think of this feature as a car modulator that regulates the fuel that goes into the engine. Do you really have to pay for such a feature if you already know that your furnace is energy-efficient? Besides, if you can’t sacrifice the time to monitor the furnace’s fuel consumption, then you don’t need the feature. Only go for features that you really need. If the above features are not necessary, then drop them and you’ll be able to pay less on a new furnace.

4. Size The capacity of a furnace highly influences its buying price. Usually, a high capacity option costs much more to buy than a low capacity design. In addition, the higher the capacity, the more the fuel consumption and cost of running the furnace. A low capacity furnace, on the other hand, uses less fuel and costs much less. You need to match the furnace capacity with your home needs. If you don’t need a high-capacity design, then you should opt for a low capacity option. You’ll pay less for it. The shortcoming, however, is that that it won’t give you the comfort that a high-capacity furnace gives. 5. Duct Work This factor actually does not apply to a full furnace installation but in a case where you want to convert an electric design into a gas-powered option. In this case, you have to part with $5000- $15,000 to do the conversion. Form a saving perspective, this is more expensive than a new gas- powered furnace installation. Just go for an affordable gas-powered furnace instead of converting an electric one. As seen before, you are likely to spend about $2000 on a fair design. But still, you have to talk to your HVAC service technician to determine the best gas-powered furnace design that works for you. What’s clear though is the fact that it’s easier to pay for natural gas than electricity.

Saving on Labor Costs On average, you may pay an HVAC expert at least $50 an hour to have the furnace installed. You can save on this cost but you first have to understand the factors that affect it. 1. The Contractor Contractors, whether independent or working for a company, have different prices for fitting new furnaces. Regardless of who you hire, you are likely to pay a considerable amount. The easiest way to save big on the contractor’s fee is to do the installation yourself. There are so many materials online and video tutorials that you can use to do a DIY installation. In addition, you can use the instructions manual that comes with the new furnace to do the installation. Alternatively, you can take advantage of the manufacturer warranty to ask for a free installation. This warranty is offered once you buy a furnace and it covers the installation plus the repairs for a given period. 2. The Location The location significantly affects the time length that the installation takes. Of course, this highly depends on where you get the furnace and where the expert comes from. Look for a local contractor and buy the furnace locally if possible. In case you have to order the furnace online, look for an added advantage like free shipping. You’ll be able to save a lot if you do so.

Other Cost-Saving Tips 1. Go for Condensing Gas Furnaces When it comes to the most energy efficient furnaces, you have to put condensing gas designs at the top of your list. But this is not the only advantage. They are also very affordable and easy to operate. The design features a heat exchanger that easily converts gas fuel into friendly heat. Furthermore, the furnace comes with a humidification system that helps you to enjoy about 50% humidity. This is a very comfortable percentage and it doesn’t require excessive heating to achieve it. 2. Purchase via a Credible Home Center You actually do not have to buy the furnace directly from the seller. You can do it through a credible home center. This will make it easy for the seller to grant you a huge discount. You may not get such an offer if you contact the seller directly. The secret is finding a home center that works for you and one that can agree to do you the favor. 3. Look for Manufacturer Rebates A good number of furnace manufacturers have rebate programs for their new buyers. The offer normally translates to instant discounts. Therefore, you are guaranteed a significant reduction in the furnace purchase price. With this in mind, it’s advisable to always ask about the existence of such offers before buying a new furnace. You can also ask your service technician about the deals. They may direct you to the right furnace seller.

4. Identify Tax Incentives In your state, you should search for local or federal tax incentive programs which apply to new furnace installations. The programs not only guarantee you energy efficient furnaces but also affordable alternatives. The incentives come in form of yearly tax credits and it applies to the entire year that you install a new furnace. These days, a number of utility companies as well as fuel suppliers have these programs. So, you can always talk to them before purchasing a new furnace. 5. Do Your Own Research Don’t assume that your local contractor is always right or knows everything about cheaper new furnace installations. You should also not assume that the expert will answer every question that you have truthfully. So, it’s better to do your own research. This is more important when considering the furnace price and the installation cost. Considering that furnace technology is fast changing, you should take time to research what is current and affordable before making a purchase. This is more important if you are opting for a DIY project. You should at least know the average cost of the furnaces in the market and the costs of installing them. It’ll help you do a better comparison and to prepare for everything in advance. 6. Load Calculation Load calculation refers to the process of determining how much power your furnace needs to properly heat your home. You can ask an HVAC expert to help you calculate the value. Some of the things that you’ll have to consider are the size of your house, your location, and foundation type. This will save you money since you won’t buy an oversized furnace or waste cash on an inadequate design.

Closing Thoughts Nowadays, you have to be careful when doing a new installation so that you don’t lose money. This also applies to new furnace installations. With the above ideas, you can significantly reduce the heavy costs that come with upgrading a furnace. With so many energy efficient designs available on the market, all you have to do is find a furnace that suits your home needs. Additionally, you need to speak to the right HVAC experts. Smile Heating & Cooling IncSmile Heating & Cooling Inc. boasts over 10 years in the HVAC industry. The company’s goal is to always provide outstanding services to every customer. That’s why they never stop looking for some of the best furnace and other HVAC equipment on the market. Irrespective of the type or brand of furnace you plan to install, the company will be glad to help you install it. They are also connected to all furnace suppliers in Regina, and can get you any type of furnace that you desire.

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