Is It Time to Replace Your HVAC? Spring is the Time to Do It
The sign spinners are out in Myrtle Beach. You’ve seen them: folks dressed as Lady Liberty, twirling a sign promising you the largest tax return possible. Yes, 2020 tax season is here, and filings are due by April 15th. For many Americans, a tax return is a much needed boost after a difficult year. Without a clear timeline for a new coronavirus relief bill that could help millions with a new round of stimulus checks, many are filing taxes early in hopes of an early return check.
If you are planning on receiving a return, how will you use your money? For many, return money will be used to pay for expensive repairs or upgrades. A small influx of cash can help you take care of car troubles, a broken appliance, or even your HVAC unit. If you’ve been considering an upgrade to your HVAC system, spring is the perfect time to upgrade. Why? Most people are running their HVAC system minimally during Myrtle Beach’s temperate springtime. HVAC companies have faster turn-around times and fewer emergency calls. Getting a quote and an installation during the heat of the summer will be a challenge, so planning ahead can save you time and frustration.
To Repair or To Replace? That Is the Question
We get asked this question a lot. And to be honest, a lot of companies will push customers into a costly replacement when it may not be needed. So where do you draw the line between repair and replacement? You need examine the short-term and long-term costs and benefits.
The lifespan of an HVAC unit is roughly 10-15 years. If your unit is outside and oceanfront, it will be 6-8 years due to exposure to salt, sand, and weather. With these average lifetimes in mind, let’s consider when it’s best to repair. A new or nearly new unit is often a repair, especially if parts are under warranty. Though labor can be costly, you are still spending less than you would for a new unit, and the future life of your HVAC is still substantial.
On the flipside, HVAC units near or over 10 years old are better to replace. Sometimes a small repair can help extend the life of a unit until there is a better time to replace (maybe 6 months or a year down the line), but this repair provides a small delay of the inevitable.
It’s the cases in between that are the most challenging. A 5 or 6 year-old unit facing a substantial repair… Should you replace? This is where a helpful formula enters:
- REPAIR IF: COST OF REPAIR multiplied by AGE OF UNIT IN YEARS is LESS THAN COST OF NEW UNIT
- REPLACE IF: COST OF REPAIR multiplied by AGE OF UNIT IN YEARS is MORE THAN COST OF NEW UNIT
This simple formula can help you compare the cost-benefit ratio between your two options.
Consider Energy Savings and New Technology
Additionally, don’t forget to consider potential cost savings, especially if your HVAC system is older and outdated. HVAC technology is constantly evolving and improving, leading to better and more efficient heating and cooling systems. The additional expense of replacing or upgrading your heating and cooling can be offset by money saved in energy bills. Additionally, depending on the system, you may qualify for energy-saving rebates and special offers. Cooper Mechanical Services can help you decide which options make the most sense in the short-term and long-term.
Don’t Wait for Summer. Call Cooper Today!
Do you need to repair or replace your HVAC system? Don’t wait until the summer when HVAC companies are handling high volumes of calls. If now is a good time to invest in your home or business, give us a call today.