Thinking about replacing your furnace? Then you’re probably worried about the cost. But how much does it cost to replace a gas furnace? Is it really as expensive as you’re thinking it will be? Or could it actually be more expensive? Let’s talk about it.
Replacing a gas furnace can cost anywhere between $3,500 and $15,000. So, what makes this range so broad? Well, there are a few different factors that can impact the price of your gas furnace replacement, and we’re going to talk about each of them in more detail. Let’s talk about the top 4 factors that will impact the total cost of your gas furnace replacement.
1). The fuel type. The fuel type is one of the most important factors to consider when purchasing a new furnace. Furnaces can run on gas, electric, or oil. Gas furnaces tend to have the highest upfront cost of all three fuel types, but they also offer the lowest operational costs and the highest level of comfort. Electric and oil furnaces, on the other hand, tend to be less expensive up front but can be more expensive to operate in the long run. The fuel type you choose will depend on the fuel you have access to. For example, if you currently have an electric furnace and don’t have access to natural gas, it may be more cost-effective to stick with an electric furnace rather than retrofitting your entire home to accommodate a gas furnace.
2). Furnace size. The size of the furnace is another important factor to consider. Furnaces are sized based on the amount of heat they put out per hour, which is measured in British Thermal Units (BTUs). The higher a furnace’s BTU output, the more it typically costs to install. However, a larger furnace isn’t always better. The size of the furnace should match your home’s heating needs. A good contractor will perform a “load calculation” to determine the precise number of BTUs your new furnace needs. This calculation takes into account factors such as the square footage of your home, the climate you live in, the number of windows and doors, the type and quality of insulation in your home, the height of your ceilings, the number of people living in your home, and the type of flooring throughout your home.
3). Furnace efficiency. The efficiency of the furnace is another factor that can affect the cost. Every furnace has an Annual Fuel Utilization Efficiency (AFUE) rating that signifies its level of efficiency. The higher the AFUE rating, the more expensive the furnace. However, higher AFUE ratings also mean lower energy bills throughout the lifetime of the furnace. In Colorado, it is typically recommended to get a gas furnace with an AFUE rating between 92% and 95%. However, you can choose a higher AFUE rating if you’re interested in an even more efficient furnace and lower energy bills.
4). The contractor you choose. It’s important to understand that not all contractors charge the same amount for the same job. Higher quality contractors may charge slightly higher prices, but it is crucial to note that it is important not to skimp on the quality of the contractor. The quality of the installation is the most important factor when buying a new HVAC product. A lower-quality contractor may offer cheaper prices, but they often provide rushed work and might not even provide a decent labor warranty. In the long run, this can lead to spending more money and wasting more time. Therefore, it is important to invest in a good contractor to ensure a high-quality installation and optimal operation of the furnace.
Want to get a free consultation with a trusted, local HVAC contractor? Contact us today! We offer free estimates on all of our furnace replacement jobs!