A Few Things that Affect the Cost of a Furnace

1. Size of the furnace
When the size is increased, the cost goes up almost immediately. While choosing a furnace, you are not just making a one-time payment, the utility bills you’ll have to pay should also be considered. If you purchase a furnace that is more than necessary for the amount of space you have, the utility bills are gonna pile up even though you are not using the furnace at its maximum potential.
To avoid getting into such an issue, make sure you have a manual load test performed to figure out which is the right size for the amount of space you have. If you go for a Gas furnace, an increase of 20,000 BTU will cost you around $400 in a small furnace. On the other hand, the same 20,000 BTU increase in a larger furnace will result in a cost of $1200. But with an oil furnace, regardless of the unit size, the increase of 20,000 BTU will only cost you around $300 to $600 dollars. So, the increase in size has a different effect on the price of the unit depending on the energy source of a furnace.
2. What is the energy source?
One of the most important choices you will have to make when it comes to buying a furnace is the energy source. What kind of energy are you going to use to heat up your house? When it comes to choosing the energy source, you need to take a lot of stuff into consideration.
For example, the cheapest out of all furnaces are electrical furnaces but the energy usage expenses are relatively high. On the other hand, Gas furnaces initially cost slightly more than electrical furnaces but as the cost of natural gas is low, the energy usage expenses are less. And in the end, as the cost of oil is out of the imagination, it’s definitely not an option. So, in our comparison, though the cost of the Gas furnace is higher, the energy usage costs are less which makes it the best choice.
3. Efficiency
The efficiency of furnaces now is relatively higher than that of the older models of furnaces used earlier. This basically means that you will have to take a lot of options into consideration. Let’s make a quick comparison to determine the best.
The furnaces that cost higher are usually the ones with a higher fuel utilization efficiency rating and the ones that have a lower fuel utilization efficiency tend to cost low upfront money. But the thing you should note is that though furnaces with higher fuel utilization efficiency cost more upfront money, they will end up saving you a lot in the long run. Going from a medium efficiency standard to higher efficiency will cost you anywhere around $500 to $1000 but you will see instant differences in your utility bills.
4. Installation costs of the furnace
Installation of a furnace costs higher than the initial price of just the furnace. And the installation cost depends on how difficult it is to install, which city or area it is being installed in, is there any new ductwork to be installed? On average, the installation costs of a furnace reach the mark of a solid $4000. Some of the additional factors affecting the cost of installation are energy efficiency, brand, fuel type, size, etc.