We’ve all heard people say that we live in a “throw away society.” And while that has definitely become a reality in the United States, this need not apply to your home’s heating and cooling system.
There are circumstances in which purchasing a new air conditioning unit can actually save homeowners money in the long run. There are other situations when performing a costly repair may actually be the more financially sound plan of action. So how do you know what to do and when?
Should I Repair My HVAC Unit?
Homeowners face this dilemma all the time. The decision of whether to buy a new air conditioner unit or to repair the old one comes down to a list of questions you need to ask yourself.
- Have you had very many problems with the unit?
- How long do you plan on staying in this house?
- Are your utility rates reasonable?
- Are you able to switch from electric to gas heat?
- Do you live in a small home with just two people living there?
- Do you live in a large home with a large family?
If you’re planning to live in the house for quite some time and you haven’t had very many problems with your current HVAC unit and your utility rates are manageable, then you might consider making the repair rather than replacing the HVAC unit.
Here’s an example of when this might prove to be true. If you’ve been smart and had your 10-year-old heating and cooling unit serviced every year since you’ve owned it then a repair may actually be a better investment than buying a new HVAC unit. This may even be true if the new unit is more energy efficient than your current unit. In a case like this you might be looking at a $600 repair verses a $5,000 replacement HVAC unit. If the $600 repair takes care of the problem then there is no need to move ahead in replacing the unit.
Should I Buy a New Air Conditioner?
However, if the cost of repair in the last few years is outpacing the cost to purchase a new heating and cooling unit, then you might look at replacement options that best fit your home and income. For your situation, it might be less costly in the long run to go ahead and make the investment in a new heating and cooling system.
Do You Need HVAC Financing?
Something else that should play into your decision is to think about where the money to purchase the new HVAC unit is going to come from. Are you going to pull money from your savings or will you have to get a loan? Is purchasing the equipment going to force you to dip into your retirement savings or will you have the cash to pay for it outright? At Warren Heating and Air, we offer our customers reasonable terms on financing for their new HVAC unit. Other service providers likely offer similar financial services.
Make Your Comfort Personal
Every homeowner’s situation is different, so you need to think about what your personal situation looks like and consider what works best for you and your family. Also, be sure to work with a knowledgeable HVAC service provider, someone whom you can trust to give you sound advice that is in your best interest.
Remember, this is your home, your money and your comfort at stake. So, consider all of your options before making a decision to perform a costly HVAC repair or purchasing a new HVAC unit for your home.
My husband and I have noticed that our air conditioning has been having a lot of problems over the past year, and we keep finding new problems with it. Thanks for mentioning that if your AC is starting to need too many repairs it can be less costly in the long run to just buy a new one instead of trying to keep fixing your old one. I think it would be smart for us to look into getting a new AC unit installed so that we can save money and stop worrying about what else is going to go wrong with our current one.
Thanks for explaining that replacing an air conditioner might make better sense than repairs based on the cost of repairs needed. I realized last week that my air conditioning unit is not working like it used to, and it is aging. It would be a good idea for me to contact a professional who can help me diagnose the problem and decide the next steps to take with my AC unit.