Stressing About The Cost Of Installing A New HVAC System? Focus Instead On These Potential Savings
Replacing an existing furnace or upgrading from some other type of heat to a central heating and cooling system is an expense that every homeowner must consider at some point during their ownership. Unlike cosmetic updates like painting or installing new carpeting, a dependable heating system is a requirement for the comfort and health of the occupants, as well as the preservation of other major systems of the home, such as the plumbing. If you are a homeowner who is feeling the financial stress of a looming HVAC upgrade, the following information can help you understand the potential savings this home improvement project will offer during the coming years of usage.
Significantly lower monthly heating and cooling bills
Homeowners who are struggling with an old, energy-slurping furnace or those who are constantly being forced to pay for after-hours repair calls may be telling themselves that doing so is cheaper than the cost of a new furnace; but this is often not the case at all. While it certainly is true that the initial cost of a new furnace can be substantial, making this investment can actually put homeowners on track for big savings on their monthly heating and cooling bills.
According to recent statistics, the national average cost for replacing a furnace is slightly more than $4,000. When calculated over just ten years, the cost is equal to just over $33 per month ($4,000 divided by 120 months). In most cases, homeowners will see heating and cooling bills that are reduced by much more than this amount each month, making their HVAC replacement a very positive financial decision. Since most new furnaces manufactured today are expected to remain efficient and reliable for much longer than a decade, the savings reaped by replacing your current unit are likely to be even more substantial over time.
Rebates, tax credits, and lower insurance premiums can add to the savings
Another financially positive reason to move ahead with with an HVAC replacement or upgrade is the potential savings available through rebate programs, tax credits, and savings on home insurance premiums. Several states and government agencies maintain searchable databases to help consumers locate applicable tax credits and rebates for making fuel efficient upgrades to their home, including this one.
In addition to tax credits and rebate programs through utility companies, state and federal agencies, and HVAC manufacturers, some major home insurance providers also offer premium reductions for this type of upgrade.
To learn more about the actual cost and savings involved in upgrading your current HVAC system, contact a reputable heating unit installation service in your area.