With the cooler weather settling in, there is nothing worse than knowing your heating unit could malfunction at any minute. If you are shopping around for a new unit, take a look at our breakdown of different furnace options. This will help you choose the best one for your home!
An electric furnace is the cheapest option when it comes to initial costs because they don’t require special venting, fuel pipes or storage tanks. They're fairly easy to maintain and the units require minimal space. Since there is no fuel combustion involved, they're a relatively safe option and tend to last for 15-20 years. Unfortunately, they're the least efficient furnace and often result in higher bills compared to the other furnaces. If you are expecting harsh winters, electric is not for you.
The average cost for an electric furnace is $665 with an estimated installation cost of $1,950, but the prices will vary greatly between brands.
Natural gas furnaces are considered the most convenient and efficient option, especially if you plan to endure a harsh winter. Although they cost a bit more than electric, they warm up your home quicker and often yield lower utility bills due to high efficiency. If you're expecting a harsh winter, gas furnaces are recommended because they're less expensive to heat your home than electricity.
The average cost for a gas furnace is $1,215 with an estimated installation cost of $2,370. If you're considering converting your gas furnace to propane, you can purchase a conversion kit for about $100.
Green furnace options:
If you are looking to make your home more environmentally friendly, solar panels or geothermal options might be for you. Make sure you consult an expert before investing to ensure your home is compatible with these alternative options.
Greener options will have a higher cost upfront than traditional furnaces. With current energy rates, you may not recover the initial investment, even over the lifetime of your home. On the other hand, if traditional fuels become considerably more expensive, then the green options might be a smarter option.