We as homeowners are the best at procrastinating when it comes to spending our cash on necessary applicances and home repairs. The old adage to “fail to plan is to plan to fail” indeed describes how many of us fail at budgeting (a.k.a planning ) for repairs. Studies show that standard Residential Heating & Air Conditioning equipment, if maintained properly, has a life span of 12-15 yrs. As is everything that is man made, there is an expiration date from the time you purchase & install. Wisdom instructs us to plan for those particularly large financial investments that often do, but should not, take us off guard ending in high anxiety. Residential Heating & Air equipment replacement ranges from $5,500-$15,000! Who enjoys receiving the surprising word that you will have to spend this amount of money. NO ONE! In fact, we typically make rash, uninformed decisions when “taken off guard.” These decisions may also be short-sighted as we tend to make them hastily. High percentages of Residential Heating & Air systems need more than merely changing the equipment; however, in the Heat of the summer or the Cold of the Winter we just want it done quickly to provide immediate relief. Wisdom knows that there is great value in planning your replacement. The list below provides some valuable insight as to why we as homeowners should plan our replacement.
1) Planning leads to our budgeting which leads to our saving for the necessary investment – wise planning will result in saving the cash you need to replace your equipment. $15,000 saved over the course of 5 yrs. equals $250/mnth. Yes, $15,000 is usually very highly efficient equipment (what I recommend for energy savings & comfort) and possibly changing the duct work; however, this is a good number to aid in planning. This relieves the anxiety of the surprise replacement.
2) Planning for your replacement means you can schedule at your convenience – most replacements happen when it is extremly cold or hot. This can leave you & your family without for a period of time due to the busyness of contractors and other factors. However, if you plan your replacement such can be done in milder weather rather than in the “rush” of life’s circumstances.
3) Planning for your replacement means taking advantage of “off-season” deals – due to the milder seasonal weather here in the south, manufacturers as well as contractors have planned sales events that last 2-4 months. As with any business, they must plan to stay busy in the slow seasons. One way of doing so is to provide great sales & discounts that will not be available when everyone is extremely busy. Take advantage of these sales that can save you from $4oo-$1500 depending on the manufacturer or contractor. While I cannot speak for other contractors, we pass the savings from the manufacturer on to you which can save you loads.
4) Planning your replacement can result in making an informed decision – newer systems save money due to their energy efficiency (which will be discussed in a later post) & replacing/sealing necessary duct work (also discussed later) will also provide increased savings & comfort. Often these items are overlooked or ignored in the “rush of life” or “rash decisions.” Planning to replace in a slow season will enable you to make an informed decision that will lead to a wise investment.
The value of planning your Heating & Air Condition equipment replacement has more value than is listed here; however, these will highlight some solid reasons to plan ahead. Do your research now. Discover through a trained contractor how old your system is and what shape it is in. Have them provide an overall analysis & replacement estimate (which we do for free) so you can plan your replacement & reap great benefits!