While many homeowners enjoy making small repairs and improvements to their homes, few look forward to the ones that come with cost estimates of several thousand dollars, like the expected cost of installing a new heating and cooling system. Instead, some homeowners continue to spend too much time and money trying to keep an existing HVAC system working, all while promising themselves that next year will be a better time to replace it.
Unfortunately, these homeowners may be missing out on some benefits that could make the cost of installing a new heating and air conditioning system a lot more appealing. If you are a homeowner who has been postponing a decision to update your home's HVAC system, taking time to look for the following signs may help you stop procrastinating and begin making more immediate plans to install a badly needed heating and air conditioning system in your family's home.
Rising energy costs
Rising costs for home energy is a recurring news theme across the country as more severe weather, natural disasters and an aging power grid continue to cause electricity rates to rise. Homeowners who focus on the national increases in energy costs may be blaming their rising utility bills on those issues instead of the bigger culprit - their own aging, inefficient HVAC system.
According to information published by the United States Environmental Protection Agency (EPA), homeowners can expect to save up to 20 percent on heating and cooling costs by replacing heat pumps and air conditioning systems that are older than a decade and more than 15 percent when replacing a furnace that is 15 years old or older. The potential savings on monthly utilities over the lifetime of the new equipment helps to offset the initial cost of installation.
Cumulative and yearly repair costs
In addition to the costs of operating aging heating and air conditioning systems, homeowners should also pay attention to the cumulative and annual repair costs that they are investing in them. As heating and air conditioning systems age, their components become more worn and require more frequent maintenance and repairs. This is especially true for components with moving parts, such as blower fans and compressors, and the electrical motors and controls that allow them to function.
To get a good idea of the actual cost of using an aging, inefficient heating and air conditioning system, homeowners will want to consider the rising costs of electricity and fuel as well as how much they have spent on repair calls and component replacement costs over both the past year. If these numbers are rising significantly, then an immediate replacement of the HVAC system should be considered to help reduce the overall costs of heating and cooling the home.
Upcoming plans to sell
Another important reason to take HVAC replacement off the back burner is when homeowners have upcoming plans to sell the home. The age and condition of the heating and air conditioning system are a critical concern for most buyers. If the home has existing HVAC components that are near or at the end of their average lifespans, prospective buyers will be more likely to submit low purchase offers or switch their attention to a competing home that is already equipped with a newer heating and cooling system.
Family health and comfort
Perhaps the most important reason to stop procrastinating and move forward with the installation of a new heating and cooling system is your family's health and comfort. Better filtration and humidity control options have made it possible for new HVAC systems to improve indoor air quality and create a more comfortable living environment for family members, including those who struggle with some types of respiratory or health issues.
Homeowners who need more detailed information about the potential benefits they may enjoy by replacing their aging furnace and central air conditioning system should discuss their situation with an air conditioning contractor in their area.