Average Replacement Costs
| Home Size | Cost Range | |---------------|----------------| | Small (1,300–1,600 sq. ft.) | $2,400–$5,600 | | Medium (1,600–2,200 sq. ft.) | $2,500–$5,800 | | Large (2,200–3,200 sq. ft.) | $2,700–$7,000 |
Key Cost Factors
- Home Size & Furnace Capacity
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Larger homes need higher-capacity furnaces, increasing costs.
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Energy Efficiency
- Standard Efficiency (80–87% AFUE): $1,200–$4,000 upfront but less efficient long-term.
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High Efficiency (90–97% AFUE): $3,000–$10,000 upfront with long-term savings.
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Brand
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Prices vary by brand reliability and reputation:
- American Standard: $2,200–$5,000
- Carrier: $2,800–$5,600
- Rheem/Ruud: $2,400–$7,000
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Labor
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Labor costs: $1,000–$3,000 depending on installation complexity.
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Additional Services
- Ductwork Repair/Replacement: $1,500–$5,500
- Oil Tank Replacement: $1,000–$6,200
- Asbestos Abatement: $700–$2,200 (if required).
Additional Costs
| Expense | Cost Range | |---------------------------|-----------------------| | Old Furnace Removal | $100–$400 | | Chimney Liner | $900–$3,800 | | Electrical Permits | $50–$350 | | Oil Furnace Inspection | $250–$1,500 |
Optional Efficiency Upgrades
| Upgrade | Cost Range | |---------------------------|-----------------------| | Smart Thermostat | $225–$400 | | Energy-Efficient Windows | $325–$2,000 per window | | Home Insulation Updates | $900–$3,000 |
DIY vs. Hiring a Pro
| Option | Pros | Cons | |-------------|----------------------------------|-----------------------------------| | DIY | Save on labor costs. | Complex, safety risks, void warranty. | | Pro | Ensures safety, compliance, and efficiency. | Higher upfront cost. |
Tips to Save Money
- Get Multiple Quotes: Compare prices from local HVAC professionals.
- Check for Rebates: Look for energy efficiency incentives.
- Bundle Services: Combine furnace replacement with other HVAC updates.
- Ask About Discounts: Some contractors offer discounts for oil furnace removal.
- Regular Maintenance: Extend furnace lifespan with routine upkeep.
Replacing your oil furnace is a significant investment, but choosing energy-efficient options and professional installation ensures long-term savings and comfort.
