If you have an older furnace in your home, you are probably trying to get as many years out of it as possible before you replace it with a new one. When you are facing a repair though, it can be hard to determine whether or not you go through with the repair or you move on and replace the old thing. This is where the $5,000 rule can come into play. If you haven’t heard of this before, this is the right article for you. LV Heating & Cooling is here to talk about what the $5,000 rule and why it can be so helpful when determining if it is time to repair or replace your furnace.
Understanding the $5,000 Rule
When you are faced with a furnace problem and you have an old furnace on your hands, it can be difficult to know what to do about it. Luckily, there is the $5,000 rule that is there to help you. When you’re using this to determine repair or replacement, you will want to take the cost of the repair, and multiply it by the age of your furnace. For instance, if you have a $400 repair and a 12 year old furnace, you would come up with the number $4,800. Since this number is below $5,000 it might be worth it to repair the unit rather than replace it. However, if the repair is upward of $400 and the until is 20 years old, all of a sudden, you have $8,000. This is much higher than $5,000 and you will be better off replacing it rather than repairing it.
Other Factors to Consider if an Old Furnace Breaks Down
There are other factors that you will want to consider when it comes to replacing your furnace as well.
– Age: A huge consideration you want to think about is how old your furnace is. The average furnace lasts between 15-20 years before it needs to be replaced. If yours is in that range, it might be time.
– Repairs: If you feel like you are constantly repairing your furnace, it might be time to replace it with one that isn’t on its way out. Frequent repairs are another factor that needs to be considered as well.
– Comfort: An older furnace might struggle to keep your home comfortable. If you have hot and cold spots throughout the house, it is another sign that the furnace isn’t keeping up.
Heating Inspections, Tune Ups, Repair, Replacement & More in Summerlin, North LV, Henderson, Enterprise, Paradise, Spring Valley, Sunrise Manor & Greater Las Vegas, NV
Dealing with furnace issues isn’t something that any homeowner wants to deal with. If you are constantly fixing an old furnace in your home, it might be time to turn to LV Heating & Cooling to come take a look. We will inspect your furnace and help you determine whether or not you should keep the one you have or replace it with a newer, more efficient one. Call us today!
