The key to knowing when to replace your furnace versus when to repair it depends on its age and how many more years you can expect it to last. But, rather than humming and hawing about these questions, there is a simple equation you can use to help you decide.
This equation compares the cost of repairing the unit to the cost of replacing it. Here’s the calculation you can use to decide when you should replace your furnace:
“Cost of Repair” x “Age of Unit (in years)” > “Cost to Replace Furnace” = Replace Furnace
Multiply the cost of the furnace repair by the age of the unit. If this number is less than the cost of replacing your gas furnace, then opt for the repairs. If this number is larger, it will be cheaper to replace the furnace.
If you’re living in Alberta, in the St. Albert/Edmonton area, and you’re still unsure, talk to a local heating company. With their expert knowledge about your particular climate, they will be able to help you make a decision as to whether you should repair or replace your furnace.