Can I Save Money If I Replace My Furnace and Air Conditioner at the Same Time?
Is it a good idea to replace your A/C and furnace simultaneously? We’re here to help you figure that out! This article also shares the best and most cost-effective way to repair your Lennox furnace in Markham.
Let’s Talk Numbers: The Cost to Replace an A/C and Furnace
As with anything, there are advantages and disadvantages to a simultaneous replacement. You must first assess if yours is one of the many households that have a packaged system.
Packaged HVAC Systems
A packaged HVAC system is one that takes care of all the heating, cooling and air handling requirements in your home. These are energy-efficient solutions that have all their parts contained in an outdoor unit that sits on the roof or the side of the house. If you have a similar setup, your furnace can function at its efficiency rating only if your A/C is also replaced in tandem.
Matched systems complement each other as they use the same blowing or air handling unit. By mixing old and new, you could be impeding their performance.
Conversely, the useful lifecycle of a furnace is around 15-35 years in contrast to that of an A/C which is around 15-25 years. The bottom line is that it will be tricky to synchronize replacement times as your furnace will likely outlive your A/C. Prematurely replacing your furnace puts an unnecessary dent in your finances.
Before we get started, let’s do a cost analysis of an individual appliance replacement versus a simultaneous replacement:
Cost of a Furnace Replacement
How much does it cost to replace gas furnace? A homeowner will pay about $3,500 (inclusive of installation costs) for a new furnace. If you’re planning to invest in a high-efficiency furnace, the capital investment can range between $3,000 to $8,000. However, you will reap a quick ROI, considering that these are fuel-efficient systems that help you save tremendously in the long run.
Cost of an A/C Replacement
How much does it cost to replace air conditioner? A homeowner will pay between $500 to $4,000 for a new central A/C system. High-efficiency air conditioners generally cost about $2,000.
Cost of a Furnace and A/C Replacement
How much will it cost me to replace my furnace and air conditioner? A simultaneous replacement could range anywhere between $8,000 to $15,000. Of course, this price varies depending on:
- the efficiency of the unit
- the features/brand/technology you opt for
- how big or small the system is
- the contractor
When a Simultaneous Replacement Is a Good Idea
A question we get asked most often is; Should I replace my furnace and air conditioner at the same time? We recommend a simultaneous furnace and A/C replacement if:
- The furnace is at least 14 years old.
- The new A/C you have your eye on is highly efficient and has a 16+ SEER.
- You have a packaged system – in essence, if your A/C and furnace share a blowing component, you’ll be wasting money if you upgrade just the A/C as it won’t work as effectively as it was made to.
- It is complicated to install.
- You don’t want to deal with putting off your comfort for a repair and replacement in the future.
- You know that you won’t have the funds to finance a large-scale replacement later on – a new HVAC system will give you reliable performance for the next 10 years.
When a Simultaneous Replacement Isn’t a Good Idea
It is unwise to prematurely replace your furnace (if the unit is under 14 years). In such a case, put it off until your next A/C replacement.
Additionally, if you’re in a dire situation and your comfort depends on a unit that happens to be malfunctioning, but you don’t have the money to shell out the finances needed to replace both together, it is advisable to replace the faulty system.
Benefits of a Simultaneous Replacement
Energy-Efficient Packaged Systems
You can enjoy the uninterrupted performance of a matched system – one that is more cost-effective with all the interior and exterior components specially designed to work together. This not only results in optimal operating performances but also amazing energy efficiencies.
Access Exclusive Rebates
By opting to replace both units together, you may be eligible for rebates, incentives and other attractive promotions offered by your supplier. There are plenty of generous heating and cooling HVAC rebates for GTA homeowners throughout the year.
Company Discounts for Bulk Purchases
You can avail of company discounts since you’re going for a bulk purchase. If you’re financing heating and cooling installations separately, you will rack up higher costs in the long run.
Don’t Revisit a Difficult Job
If the furnace, blowing motor or air handling units are particularly tricky to access, go for a same-time replacement to alleviate future inconveniences for yourself and your contractor (who is then likely to elevate their service fee).
Compatible Systems = Comfortable Home
If you’re going for a high-efficiency A/C unit with a SEER of 16 or higher, change your furnace as well so that both systems are compatible. These systems need variable motor speeds and other specific technologies to function without a hitch.
Need a Professional Opinion? Talk to a Trusted Technician!
Your ultimate goal is to lower energy costs, increase your system’s efficiency and prolong the lifecycle of your next system.
Confused between a same-time and separate furnace and A/C replacement? We recommend talking to an HVAC technician about your home’s unique heating and cooling requirements.