Have you ever seen a price tag for an item and immediately known it was overpriced? When that happens you can feel justified in just leaving the item and walking away. But what happens when you get a repair bill for your furnace that is just way too high for your budget?
You might feel like you have no choice but to just grit and bear it. But the truth is that there are repair bills that are too high. And those bills are an indicator that repair isn’t worth your money and you should invest in a new furnace instead. Here’s how to tell when the cost of a furnace repair in Egg Harbor Township is too much.
Repairs at the start can be free
At the beginning of your furnace’s lifespan, say within the first few years, if you need a repair it likely won’t cost anything. This is because, in most cases, the repair will be covered under your system warranty. This won’t last forever but a bill that is nothing or next to nothing is definitely worth it!
The average cost of repairs can be a few hundred dollars
When the warranty no longer covers your repair needs, you may start to encounter bills that can range from $100 to a few hundred dollars. As bigger parts wear down and need to be fixed or replaced, the amount of time and labor and, well, parts will increase which results in a higher cost. A couple of hundred dollars spent on repairs is a worthwhile investment though.
Repairs ranging into the thousands mean trouble
As you start to notice repair bills range above $500 per service, we’d suggest preparing for your next system. Even with maintenance, your heater will have a limited serviceable lifespan and when it gets towards the time when it nears replacement it will cost more to repair and may still not provide the expected results. If you notice repair bills creeping closer to $1000, you should discuss replacement options with your technician.
Remember the “Rule of 5000”
This is a great rule of thumb to remember that will help you determine if and when your repair bill funds would be better allocated paying for a new system. The “Rule of 5000” goes as follows:
The number of years your furnace has been in use
The price of your last repairs bill
If the number you get from this equation is more than 5000, then it means you need to get a new heater sooner than later.
Talk to a Technician Today
Even with these guidelines, it may be tough to determine if a repair bill is worth it. This is why it is best to talk to a technician! The professionals at Elliot-McElwee, Inc. are going to be upfront with you about if and when you are better off simply replacing your system. With that said, we will also never push a service that you don’t need. We are always honest and reliable.
Contact our team today. At Elliott-McElwee, Inc., your comfort is our business.