If your heating and cooling system is getting a little older or less efficient, the question becomes, should I repair or replace my HVAC? Because an air conditioner and a furnace or heat pump represent a sizeable investment, it’s good to consider the issue from all angles before making a decision.
If you’ve noticed a steady rise in your energy bills, or that your air conditioning or heating system seems to be running continuously to maintain a comfortable temperature, you should have your equipment checked. For help determining overages, you can utilize the Home Energy Yardstick to compare your home’s energy usage compared to similar homes.
The Benefits of Repair
It basically comes down to price. It’s almost always cheaper to repair something than replace it. Keep in mind that several homes have packaged HVAC units, meaning that it provides both AC and heat. So, replacing a whole package unit could be expensive.
The Benefits of Replacement
Sometimes price goes the other way. If you multiply the cost of your repair by the age of your equipment and it’s more than the cost of a new one, then it’s better to buy a new one. Again, though, keep packaged units in mind when deciding between AC repair or replacement.
There are other reasons replacement might be the way to go. If your equipment is at least 10 years old, you may want to consider the vastly improved technology that comes with a new system. It can mean a great amount of savings in energy and money over the next 10 years.
Other reasons for replacement may be all about timing. Perhaps you’re going to be retiring soon, and you want to take care of this now so you don’t have to worry about it for years to come, or you’re using a home equity loan to fix up some major repairs around the house. There are often timing issues that can weigh in when it comes to these investments.