With the bitterly cold weather, furnaces and heat pumps all over Indianapolis are going out requiring replacement. Unfortunately there are some companies in the heating and cooling industry that use these moments of duress to push equipment that’s either unnecessary or excessively priced. While we appreciate that different firms have different costs structures, processes, and goals, that end up with different prices, there is a range of pricing that I think is a window that most Indianapolis homeowners should expect to pay.
First thing you have to know are the variables.
1) Size of the system
2) Brand of the system
3) Efficiency of the system
4) Construction challenges
A simple way of looking at the above is that if any of the numbers are bigger for size or efficiency, the price will also increase. A brand that you’ve heard of is likely to be more expensive than one you haven’t heard of. And, the tighter the space or the more details involved to get your project completed, the more labor and material are involved, which will increase the price too.
So what numbers should you expect for your new furnace? Below are some general examples, using the above variables, that I think give an accurate expectation.
Let’s say you are moving out of your home soon and see no reason to invest in something high end, but you’re in a 2,000 square foot home built in the 1990’s. You’re likely looking at a mid size furnace, maybe a lesser known brand, and an 80% efficiency, without many construction related challenges. Price range: $2,000 – $2,500
Let’s say you just moved into your dream home. You have a family of four, 4,000 square ft. to move around in. The perks of a well known brand include a more inclusive and longer term warranty and some technical attributes that add to your comfort level. With more space to heat, you’ll need a larger furnace than our first family, and are willing to invest in a higher efficiency system to lower your monthly bills. Price range: $3,500 – $4,500
Finally, you’re someone who loves cutting edge technology. You care about the environment, and you are willing to invest in things that help protect it. In order to do so, you know a brand like Carrier, Lennox or Trane are going to have the top equipment to achieve this goal. For this highest efficiency system in your large home, it require some retrofitting construction in your basement to allow the exhaust system to exit your home. Price range: $4,500 – $6,000.
Hopefully this gives you a decent idea of what to expect when installing or replacing the furnace in your home. Obviously these are only a few examples. At Homesense, each job is viewed as it’s own custom application. Give us a call for a complimentary visit from a design technician.