Thoughts on new furnace/central ac?

[adventure_woman]

I need some other perspective from my budget minded friends! Our house is about 55 yrs old. We have finally replaced all the windows in the house. The furnace is probably the original (so NOT efficient AT ALL). We use window air conditioners in the summer months - one stays on 24/7, the other 2 as needed - probably about 1/2 the time.

We are going to need to at least replace the gas valve on the furnace - $300. I really don't want to sink money into it...it will probably run forever if we wanted it to.

We got estimates to see if we should replace it. BUT, we don't have the cash right now for it. I am proud to say we just paid off our van last month so the only debt we have is our mortgage (and student loans...). I really don't want to use credit card, but if we need to.

So, thoughts on what we should do?
1. Just replace the gas valve
2. Replace just the furnace in Sept/Oct and have most of money saved up for it and can pay it right away and have it fitted for the central ac at a later date
3. Just bite the bullet and do it all right now and pay it off as soon as we can - I figure it will be about 12 months and it will be paid off (I would try to get it on the CC and get a low interest rate on it)
4. Other ideas?

I am always trying to be cheap...so it is so hard for me to step out of the box when we are talking about a lot of money (or what to me is a lot of money!!)

 

[magicaddict]

I just signed a contract today to have new hvac installed so I feel your pain. Unfortunately our air went up and at 30+ years if wasn't worth fixing for the money it would have cost. Since you don't need to have the heat on right now I'd start saving up the money so you'll have it this fall. I've learned a lot about hvac over the last few weeks and we ended up going with a two stage furnace and compressor because it's not only more energy efficient but with the Trane rebates we got it brought the cost down to within $1000 of the lesser model. We're also getting a $350 rebate from our electrical supplier and our model also qualifies for a $350 tax credit on next year's taxes.

Make sure that when you have them measure for the furnace and quote you on it that it will support whatever potential air compressor you may want. This is why we had to replace our 50 yr old furnace as well even though it's still going strong. We went with the 80% AFUE (efficiency) furnace because the units that are 90%+ require a pvc pipe to vent and living in a rancher we didn't have a good place to bring out the pipe without losing headroom in the basement. Those units are also more expensive to purchase but with tax credits and rebates along with lower operating costs it may be a better choice for you since you live in MI and deal with a lot of cold in the winter.

The number one thing to remember is to get multiple quotes and go with the installer who has the most experience with the unit and gives a good feeling. All the equipment these days is rated pretty close but a bad installer can make the best furnace not operate to the rated capacity.

Good luck! HTH

 

[si-am]

I would bite the bullet and replace the whole system.

Our house was built in '84. The furnace (original to the house) died last year and we had to replace it. Even though our A/C was still hanging in, we decided to replace it last month with a Trane. Better to do it before we're desperate, before it breaks down at an inconvenient time!

We financed it through the installers and hope to have it paid off within a year.

The company we brought out for the A/C did tell us it would have been better to replace the A/C when we replaced the furnace so that they'd be more compatible. Oh well.

 

[Gigi22]

OP--based on experience with furnaces and a.c. systems in my own house, which is roughly the same age as yours--I think it is unlikely that you have the original furnace. In our area, home insurance companies get shirty with home owners who have older furnaces. We replaced ours for the second time last year -- it was a medium efficiency gas furnace that had simply worn out after 20 some years. We also replaced our a.c. at the same time.
My feeling is that it is always better to replace a furnace in the summer, when you don't need it to work, rather than trying to replace it in the middle of winter--when you have to have a working furnace and the furnace installers and maintenance people are all out on calls to everyone who has a broken furnace!
In your place I wouldn't even think about spending $300 on a furnace part. I would flat out replace the furnace, and check into what is needed for a.c. too.

 

[PatMcDuck]

Good thread, we are thinking of replacing heating and AC too.

I called the largest company in our area, but they will not come out to give an estimate unless both me and my husband are present...... this rubbed me the wrong way! I make many of the decisions, and ironically I have the cash to pay for all this (recent inheritance). DH of course would have to agree with the work and will have plenty of input, but works sometimes 6 days a week, long hours, and prefers I get the whole pitch myself.

 

[manning]

I live in the Chicago area.

If you are going to get both furnace and central air, get the high efficiency furnace, but don't get an air conditioner greater than SEER 13.

With the premium price you will pay you will not break even with anything over SEER 13 in energy savings. More than likely you will sell your house first. Why? Because where you live you will not run it long enouugh. If you lived in the south where it is real hot for a long time that is different. My contractor even pointed that out. Also don't oversize. If you do you will cool down the house so fast you will not take out the humidity.

If you feel you have to get an efficiency one, don't go over 16 SEER.

With a furnace that is different. You live in an area that has long cold winters. Again you don't want to oversize.

 

[galen.craft]

Paying off your debt at earliest is always a bonus for you. Better get debt free first and then focus on your investments. Otherwise your debt interest will eat into your investments.

 

[herdtoDisney]

Last year, my folks replaced their 50yr furnace with a new, high efficiency one. It saved quite a bit in oil (they have oil heat) this past harsh winter.

I would definetely do it some time before next winter. Either do it now and put it on a card, with plans to pay as quickly as you can, or save up and do it in Sept-Oct...but I would make an appt with the installer to do it, rather than waiting till then to inquire, so you can have it for next winter.

My folks are thrilled with the savings they are getting on oil use. Neither they nor I have central AC so I don't know anything about that part.