Has your furnace been experiencing more problems in the last few years, and are you getting tired of spending money on repairs for it? If so, it might be a good time to consider replacing your furnace. A furnace will only last so long before it will no longer heat your home, and at some point you will need to give in and have it replaced. If you are not sure if your furnace has reached this point, look into these three common factors that help homeowners know if now is the right time to replace an old furnace with one from a place like HomeSmart From Xcel Energy.

The Age of the Device

While the age of a furnace does not always matter when it comes to knowing when to replace it, you should still consider this factor when making this big decision. It is really hard to say exactly how long your furnace will last and it often depends on the type it is.

Energy Star recommends replacing a furnace if it is 15 years old or older. This applies to any type of furnace or boiler, but it does not apply to heat pumps. Heat pumps generally wear out faster and may require replacement after only 10 years.

In addition to factoring in the age of the furnace, it's also important to think about the condition of the unit.

The Condition of the Furnace

For some homeowners, having an old furnace is not a problem because the furnace may never experience problems. If you are lucky enough to have a furnace not encountering frequent problems, your 15-year old furnace may have some life left in it.

On the other hand, if you are dumping money into the device every year, you may finally reach the point where you no longer want to keep repairing it. The parts on a furnace will slowly wear out and need to be replaced, and this can become very costly.

If you have performed regular maintenance on the furnace each year, this may help extend its life. Regular maintenance involves things such as replacing the furnace filter and having the furnace cleaned yearly.

The Furnace's Efficiency

One of the key benefits of replacing an old furnace is that you will get a new one. This new one will use less energy to do its job, which means you may be able to save money on your heating bills. The downside of getting a new furnace is that it can be costly, and this is why a lot of homeowners start planning for furnace replacement several years before it is actually needed.

If you are starting to notice heating bills that are significantly more than they used to be, it could be a sign that you should replace your furnace. New furnaces are built in ways that make them more energy-efficient. While you must spend money on the new furnace, you may end up recouping this money after just a few years simply because the new furnace will cost so much less to operate.

According to the New York Times, replacing an old furnace with a new one could help you save up to 35% on your heating bills. For example, if you normally spend $2,000 a year to heat your home, a new furnace might reduce this by $700 per year. Home Advisor reports that the average cost for a forced air furnace replacement is around $3,944. If this is the case, you could recoup your investment in a little over 5 years ($700 x 5 years = $3,500).

If you are considering getting a new furnace, talk to a company that offers furnace replacement services. They can help you select the right furnace and will answer any questions you may have.