The Ultimate Guide to Furnace Prices: How Much to Expect

By: ROS Team

A properly functioning furnace is essential for keeping your home warm and comfortable during the cold winter months. However, furnace repairs or replacements can be costly, and it can be difficult to know how much to expect when budgeting for a new furnace.

In this guide, we’ll take a look at the factors that affect furnace prices and provide an overview of the average costs for different types of furnaces.

We’ll also discuss how to get the best deal on a furnace and provide information about rebates and tax credits that may be available. By the end of this guide, you’ll have a better understanding of furnace costs and be better equipped to budget for a new furnace.

Factors that Affect Furnace Prices

There are several factors that can affect the cost of a new furnace. Some of the most important factors to consider include:

1- Type of Furnace

The type of furnace you choose can greatly affect the cost. Gas furnaces are typically less expensive than electric or oil furnaces, but the cost of fuel should also be taken into account.

2- Size and Efficiency

The size of your furnace and its efficiency rating will also play a role in determining the cost. Larger furnaces will generally cost more than smaller ones, and high-efficiency furnaces will typically be more expensive than standard models.

3- Additional Features and Technologies

Some furnaces come with additional features and technologies, such as smart thermostats, air purifiers, or variable-speed blowers. These features will add to the cost of the furnace.

4- Installation and Labor Costs

The cost of installation and labor can vary depending on the contractor and location. It’s important to get multiple quotes from different contractors to compare costs.

5- Brand and Model

The brand and model of the furnace also affect the price. Some brands and models are more expensive than others.

By considering these factors, you can get a better idea of what to expect when budgeting for a new furnace. It’s also important to note that these costs can vary depending on your location and the contractor you choose.

Average Furnace Costs

The average cost of a new furnace can vary widely depending on the factors discussed above.

Here is an overview of the average costs for some of the most common types of furnaces:

1. Gas Furnace:

The average cost of a new gas furnace is between $1,500 and $5,000. The cost can vary depending on the size, efficiency rating, and additional features of the furnace.

2. Electric Furnace:

The average cost of a new electric furnace is between $1,000 and $3,500. Electric furnaces are generally less expensive than gas furnaces, but the cost of electricity should also be taken into account.

3. Oil Furnace:

The average cost of a new oil furnace is between $2,000 and $6,000. Oil furnaces are typically more expensive than gas or electric furnaces, but the cost of fuel should also be taken into account.

4. High-Efficiency Furnaces:

High-efficiency furnaces generally cost more than standard models. The average cost of a high-efficiency gas furnace is between $2,500 and $7,000.

It’s important to note that these are only averages, and actual costs can vary widely depending on your location, the contractor you choose, and the specific furnace you select.

It’s also worth noting that if you are replacing an old furnace, it might be difficult to find a new furnace that will fit in the same space, this can lead to extra costs for modifications, ducts, or extra labor.

How to Get the Best Deal on a Furnace?

When shopping for a new furnace, it’s important to take the time to find the best deal. Here are some tips for getting the best deal on a furnace:

Get Multiple Quotes: Contact multiple contractors and get quotes for the furnace you’re interested in. Compare the quotes and take note of any additional services or warranties that are included.

Shop Around: Don’t be afraid to shop around and compare prices. Look for deals and discounts from different retailers and manufacturers.

Timing is Everything: Purchase during the off-peak season. Typically, fall and spring are the best times to buy a furnace since the demand is lower, and you might be able to negotiate a better deal.

Consider Used Furnaces: Consider buying a used furnace, but make sure it’s been inspected by a professional and it’s in good working condition.

Check for Incentives: Look for any available rebates or tax credits that may be available from your state or utility company.

Compare Warranties: Make sure to compare the warranties offered by different manufacturers to ensure that you get the best coverage for your furnace.

Check the Contractor: Make sure to check the reputation of the contractor you are working with, read reviews, ask for references, and check if they are licensed and insured.

By following these tips, you can be sure that you’re getting the best deal on a furnace. It’s important to remember that the cheapest option may not always be the best one, so be sure to consider all factors when making your decision.

Final Thoughts

The cost of a new furnace can vary widely depending on several factors, such as the type, size, efficiency rating, additional features, and labor costs. To get the best deal, it’s important to get multiple quotes, shop around, consider any available incentives, check the reputation of the contractor, and compare warranties and timing of purchase.

By considering all these factors, you can make an informed decision that will meet your needs and budget.