Is Your Old Furnace Costing You Money?

Is Your Old Furnace Costing You MoneyFurnaces should last for years, in most cases over a decade. This is why a lot of times we see people using an old furnace that may still work, but could be costing them more money to run than they realize. 

We totally understand wanting to hold off on buying a new furnace. It’s an expensive investment, and one that will impact your home comfort and energy bills for the next 10-15 years. The only issue with holding off on buying a new furnace is the hidden cost of running an older, inefficient furnace. You may be pushing off a bigger payment with the installation of a new furnace, but you could also be spending more on energy bills than you should in the meantime. 

In this article I’m going to tell you a little more about when you should replace your furnace, how an old furnace can be costing you too much money, and what you can do to ensure energy efficiency over the lifespan of your heating system! 

If you are living outside of Chicago in the Hoffman Estates area, or the surrounding towns like Elgin or East Dundee, we can help you out with your furnace! Give us a call at (630) 504-8688, or contact us online. 

How An Old Furnace Can Cost You Money

An old furnace may be keeping your home warm, but is it costing too much money to run? There are a few ways your old furnace can end up costing you more than you realize. 

Your Energy Bills Are Too High

The most obvious way an old furnace can cost you money is higher than usual energy bills. Over the lifespan of your furnace, it can lose energy efficiency, causing it to cost more and more to run. What you once paid in energy bills when you first installed this furnace has likely gone up due to rises in the cost of gas/oil, but also because of the loss in efficiency in your furnace. 

It’s tough to tell, because obviously your heating bills are going to rise when it gets colder outside. Still, there are a few ways you can research your heating bills and see if they are higher than they should be.

Compare Energy Bills To Previous Years

Take a look at your energy bills from last year. As long as the weather wasn’t significantly different, which it likely wasn’t, the bills should be comparably the same. If your energy bills are noticeably higher than last year, check on the costs and rates. If the rates were the same, but your energy bills are higher, then it’s likely your furnace is working less efficiently. 

Compare Energy Bills To Your Neighbors

Lots of energy companies offer you a comparison of your energy use versus the homes around yours. If you are using more energy than your neighbors, it could be an issue with your heating system. 

If you are seeing increased heating bills after doing a little research, you will want to call an HVAC professional to assess your furnace. Higher energy bills don’t necessarily mean you need to replace your furnace. You may be in need of service, or simply need to fix your ductwork. It’s tough to figure out on your own, and a professional HVAC technician should be able to help shed some light on your situation. 

Repairs Needed

If your furnace is in constant need of repairs, or you are always waiting for something else to go wrong, you could incur unnecessary heating costs. 

Replacing Your Furnace Can Save Money In The Long Run

If you are using an older furnace, likely 10+ years old, it could be working less efficiently. It also may not be making your home as comfortable as it could be! The other point here is that it likely needs to be replaced soon. Some homeowners decide to push off the replacement as long as possible, and get a few more years out of the old heating system. 

What they don’t realize is that it could end up costing them lots of money by keeping the old system in place! A newer, more efficient model will bring the energy bills down. Suppose the bills come down by 30%. Over the course of a few winters, that could equal THOUSANDS of dollars in some homes. At minimum hundreds of dollars. 

So when you consider that you have to replace your system anyway, why not opt for lower energy bills and better heating? 

With a new system you also have a new warranty, and have to worry about fewer breakdowns and repairs. In most cases, we find that homeowners who are reluctant to make the furnace replacement and end up doing it, are always pleased when we check back in for regular service and to see how the system is working out. 

If initial cost is an issue, look into financing programs. The reduced energy bills should help you allocate that money towards the monthly payment instead. A low monthly payment doesn’t feel so costly when the energy bills are going down, and you have a brand new system for years to come! 

How To Extend The Life Of Your Furnace

Does HVAC Service Improve Indoor Air Quality?The best way to extend the life of your furnace is to schedule regular maintenance. Yearly heating service is going to: 

  • Improve energy efficiency
  • Lower energy consumption/utility bills
  • Extend the lifespan of your HVAC system
  • Improves indoor air quality
  • Maintains your warranty 
  • Ensures safe operation

We recommend that you have your heating and cooling systems serviced at least once a year. This is going to help you get the most out of your furnace, reduce your energy bills, and ensure your system doesn’t die years before it should. 

Furnace Replacement In Elgin, IL 

If you think it’s time to replace your furnace in Elgin, IL. or any of the surrounding neighborhoods, give us a call at (630) 504-8688, or contact us online. Our HVAC experts will be able to help you!