Even the best maintained heating equipment will eventually wear out because it can only last so long. You will eventually reach a point where repairs will cost more than they’re worth, since an old heating system will continue to have low fuel efficiency – along with poor performance and a greater chance for further breakdowns.
Here is what you should look at when deciding whether to continue making repairs or go ahead and replace your home heating system.
Determine the age of your heating system – If your heating system is more than 15 years old, you should consider replacing it soon. The average life span of a heating system is about 20 years old. Doing online research using the manufacturer name, furnace model and serial number should help you determine the age of the unit; your heating oil company may also be able to help you get the answer.
Compare repair and replace costs – A new furnace or boiler is a significant investment for your home. But repair costs can be high, too – and with a repair, you have to consider the possibility of the problem happening again in the future. Follow this guideline: if your heating system repair exceeds 50 percent of replacement costs – especially on an older unit – you should probably replace it.
Consider system efficiency – Old heating systems burn more fuel because of their inefficiencies, which means you’ll see higher fuel expenses. An old heating unit could have an Annual Fuel Utilization Efficiency (AFUE) of less than 70 percent. A replacement model can be 85% efficient or higher. If you’re ready to explore new heating options for your home – or need help deciding whether to repair or replace – reach out to your local heating oil service contractor.
Remember Maine heating oil equipment rebates – Current rebates for energy efficient heating systems could save you hundreds of dollars on new heating oil equipment – perhaps enough to tip the scales in favor of replacement. Read more about equipment rebates.
Adding It Up
When you weigh the costs and benefits of repairing or replacing older equipment with more efficient heating oil equipment, it’s clear that there are significant advantages to replacing an older system. But when is a repair clearly a viable option? Here are a few reasons.
Your system is less than five years old.
You’re planning to move soon and expect that the next homeowner will make structural changes to the house that will change the load of the existing system (remodeling, additions, etc.)
New equipment, technology or incentive options will soon become available.
Whatever you decide, you can trust your local heating oil company to share their knowledge and give you good advice.