Just wanted to give everyone the heads up on what to expect if, let me rephrase that, when you have to replace an older furnace or even a mid efficiency furnace to a high efficiency furnace. There is the potential for a lot of work and possibly some huge expenses.
When looking at and evaluating a property that is going to require a new furnace and hot water tank down the road it will be in your best interest to have a reputable plumbing and heating company come in and give you a cost estimate on the replacement. Do not take the word of your home inspector on what the replacement costs will be. The cost to replace an older furnace with a new high efficiency furnace can escalate drastically.
As I`m sure you are all aware, as of 2010 only high efficiency furnaces are being sold in Canada. The new high efficiency furnaces can not use the same venting pipes/chimneys that the older and mid efficiency furnaces do. You will have to have everything re-vented which means you may also have to budget for new hot water tanks which use the same venting as the old furnaces.
We are currently in the thick of a major renovation in our personal residence. It was one of our contractors who suggested that since we were opening up walls that we consider replacing both our furnaces and hot water tanks. I wasn`t to keen on it since the furnaces and hot water tanks aren`t that old -- Around 7 years. I did however call in a couple of reputable heating companies to take a look at our furnaces and give us their recommendations and quotes. I am so glad I did. If we would have completed our renos without replacing the furnaces and hot water tanks and 5 years down the road one of our older furnaces decided to pack it in we would have to rip out a good portion of our new renovations to make room for the new venting.
After talking to the heating companies I was absolutely shocked at the lack of information out there for home owners regarding the possible complexity and cost of installing new HE furnaces particularing in older homes and homes that are completely finished. One company told me about a job that they themselves could not believe actually cost the home owner $19,000 just to install one new HE furnace. The home was completely finished upstairs and also had a completely finished basement suite. Walls, floors and ceilings had to be opened up; roof had to be repaired, hot water tank had to be replaced etc. It was just a really bad layout to start with and there were restrictions on where the furnace and hot water tank could be vented.
Each company I talked to said they are seeing more and more horror stories with these replacements. There is no longer such a thing as an emergency furnace replacement in the middle of winter if you have an older furnace. Just something to think about. If you have an older furnace in one of your rental units and it conks out in the middle of winter and it is not repairable. What is your plan? Do you have the funds to replace the furnace and all the venting plus the repairs to walls that may have to be opened up?
Now keep in mind most furnace replacements are pretty simple and go off without a hitch but if you own a property that poses venting challenges just be prepared. Talk to a few heating specialists and start planning and saving for your replacement. Don`t get caught off guard.
Cheers
ps. we upgraded both our furnaces and hot water tanks. Be warned that the new HE hotwater tanks have noisy fans on them as we have found out. We`ve had to insulate our utility room to block out the noise. I guess that`s why all the new homes have insulated sound proof utility rooms.
When looking at and evaluating a property that is going to require a new furnace and hot water tank down the road it will be in your best interest to have a reputable plumbing and heating company come in and give you a cost estimate on the replacement. Do not take the word of your home inspector on what the replacement costs will be. The cost to replace an older furnace with a new high efficiency furnace can escalate drastically.
As I`m sure you are all aware, as of 2010 only high efficiency furnaces are being sold in Canada. The new high efficiency furnaces can not use the same venting pipes/chimneys that the older and mid efficiency furnaces do. You will have to have everything re-vented which means you may also have to budget for new hot water tanks which use the same venting as the old furnaces.
We are currently in the thick of a major renovation in our personal residence. It was one of our contractors who suggested that since we were opening up walls that we consider replacing both our furnaces and hot water tanks. I wasn`t to keen on it since the furnaces and hot water tanks aren`t that old -- Around 7 years. I did however call in a couple of reputable heating companies to take a look at our furnaces and give us their recommendations and quotes. I am so glad I did. If we would have completed our renos without replacing the furnaces and hot water tanks and 5 years down the road one of our older furnaces decided to pack it in we would have to rip out a good portion of our new renovations to make room for the new venting.
After talking to the heating companies I was absolutely shocked at the lack of information out there for home owners regarding the possible complexity and cost of installing new HE furnaces particularing in older homes and homes that are completely finished. One company told me about a job that they themselves could not believe actually cost the home owner $19,000 just to install one new HE furnace. The home was completely finished upstairs and also had a completely finished basement suite. Walls, floors and ceilings had to be opened up; roof had to be repaired, hot water tank had to be replaced etc. It was just a really bad layout to start with and there were restrictions on where the furnace and hot water tank could be vented.
Each company I talked to said they are seeing more and more horror stories with these replacements. There is no longer such a thing as an emergency furnace replacement in the middle of winter if you have an older furnace. Just something to think about. If you have an older furnace in one of your rental units and it conks out in the middle of winter and it is not repairable. What is your plan? Do you have the funds to replace the furnace and all the venting plus the repairs to walls that may have to be opened up?
Now keep in mind most furnace replacements are pretty simple and go off without a hitch but if you own a property that poses venting challenges just be prepared. Talk to a few heating specialists and start planning and saving for your replacement. Don`t get caught off guard.
Cheers
ps. we upgraded both our furnaces and hot water tanks. Be warned that the new HE hotwater tanks have noisy fans on them as we have found out. We`ve had to insulate our utility room to block out the noise. I guess that`s why all the new homes have insulated sound proof utility rooms.