Every home in Toronto needs a properly functioning furnace and air-conditioner. While you know it is a necessity, you may be worried about the cost and its effect on your bank account.
Your bill for replacing a central air-conditioning system or heating will largely depend on the type you select. If you go for a combi furnace and central air, the price will differ from a boiler and ductless air.
Let’s take a look at the prices of the different systems so you know what to expect and how to save money.
Central Air-conditioning systems
Central air-conditioning system are very popular because they are efficient and reliable. With a large compressor and a series of ducts distributed throughout the house, every room can be cooled by a single system. It allows a homeowner to control the temperature in every part of the home easily.
If you desire to install central air-conditioning, you will spend anywhere from $4,000 to $7,500. While the average price is around $5,000, the system’s model and other factors may also affect the final price.
Larger homes will also need a unit with a bigger condenser and this will cost you more.
Ductless Mini-Split System
These climate-controlled units are designed for one room at a time. They can heat and cool and operate without ducts. The cost of installing this type of system is relatively low, from $3,000 to $4,200.
Note, however, that this type of system can only heat or cool one area. If your house has multiple rooms, you will have to buy several units and extra compressors. This will bring the total cost to around $8,000 or more.
Furnace
Similar to central air-conditioning systems, furnaces use ducts and with gas or electricity, they provide hot air by blowing it through the ducts in every part of the house. An entire house can be heated with only one system.
A furnace costs less than a central air-conditioning system, with prices typically from $3,500 to over $6,000. For a large home, such as 2,000 square feet or more, you need to select a very good model. Bigger homes will mean more expensive furnace system and installation costs.
Boiler systems
A boiler system is another method for heating a home. While a furnace blows hot air into every part of the house using ducts, a boiler pushes hot water through radiators located throughout the home. Thus, a boiler system can also heat a whole house.
Boilers are more expensive than furnaces, with prices from $4,500 to $8,500.
If you have a big house, a boiler system can be quite expensive. You will require a bigger and more powerful system and install more water pipes.
For instance, it is reasonable to expect to pay around $12,500 or more for a boiler system for a home with 2,500 to 3,000 square feet.
Hot Water Heaters
You cannot have an HVAC system without a hot water heater. Nobody wants to take a cold bath in the morning. The good news is that hot water heaters are fairly inexpensive and the price will depend on the size of water heater you need based on your daily needs. Tank water heaters can cost from $2,000 to $3,000 while tankless water heaters have an average price of $3,500 to $5,000.
If you are worried about paying for the cost of an HVAC system, homeowners can get financing through credit cards, home equity loans, or even through financing programs offered by HVAC companies.
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