More than half of homes in the U.S were built before 1980, according to U.S. Census figures. With most home heating and ventilation systems lasting around 20 years, millions of American homeowners will be looking at replacing their HVAC systems this year. If you’ll be among them, understanding the factors that influence the cost of a system could help save you money in the long run.

“The cost of HVAC systems can vary widely, and most people who face replacing a system have never gone through the process before,” says Steve Hoffins, director of marketing, Luxaire, a heating and cooling systems manufacturer. “Sorting through your options can be challenging. However, finding the right system for your home can greatly influence energy efficiency, your home’s comfort and its resale value.”

Here are six factors that affect the cost of installing a new heating and cooling system, and what you should know about each:

The size of your home

You can probably guess that the larger the home, the bigger the system you’ll need to adequately heat and cool it. If a system is too small for the home, it will work harder, be less energy efficient and possibly wear out sooner.

However, too big isn’t better, either. In fact, says Hoffins, “Most homes have heating and cooling systems larger than they actually need.” A system that’s too large for a home can create uneven temperatures, poor humidity control, maintenance problems and a loss of efficiency.

Research can help you identify the size HVAC system that’s just right for your home. You can also ask your product dealer to provide a load calculation and energy analysis for your home.

Energy efficiency

Replacing an HVAC system affords you the chance to improve your home’s energy efficiency and save money over the long term. A quality, energy-efficient HVAC system may cost more than a less efficient one, but you can anticipate recouping the expense, plus additional savings over the lifetime of the system.

System type

From gas furnaces and split system air conditioners to heat pumps and packaged heating and cooling units, there are multiple ways to heat and cool your home. Most people replacing all or part of an HVAC system will opt to stick with the same type of system they’re replacing. However, you may find a different option will work better.

Different types of systems come with different product and installation costs. Before deciding what’s right for your home, research your options and talk to a qualified dealer about benefits and costs of each.

Ductwork

When you’re installing a new HVAC system, it’s important the ductwork in your home works with the type of system you’ve chosen, and that it’s been properly installed and maintained. Improper ductwork can create hot or cold spots in a home, reduce system efficiency and even allow the growth of mold from condensation. An HVAC professional can help you assess if your ductwork is in good shape before you invest in a new heating and cooling system.

Accessories

Certain types of accessories can make your new HVAC function more efficiently and provide you with greater ease of use. If your furnace is 20 years old, chances are good your thermostat is the same age, so you’ll want to replace that, too. Programmable thermostats can be reasonably priced and help enhance the energy efficiency of your HVAC system. Other accessories such as an electronic air cleaner can help enhance the air quality inside your home. You’ll want to carefully consider the accessories you’ll be adding, and factor them into the total anticipated cost of your new HVAC system.

How you’ll pay for it

Replacing an HVAC system costs thousands of dollars. If you don’t have enough cash saved to cover the cost, you may choose to finance all or part of the expense. You could use a credit card, but high interest rates mean you could end up paying thousands more in interest for your HVAC system. Manufacturer or dealer financing may be a lower-cost option. For example, select participating Luxaire contractors offer financing with appealing terms such as deferred interest, no interest with equal monthly payments and convenient monthly payment options.

To learn more about Luxaire home comfort systems, visit www.luxaire.com or follow @LuxaireHVAC on Twitter. – (BPT)

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Atlantic Building Inspections has been providing Residential Home Inspections Pre-Purchase/Pre-Listing, Commercial Inspection, Chinese Drywall Visual Assessment, Mold Sampling, Four Point Insurance Inspections and Wind Mitigation Inspection to home buyers and home sellers in the Miami, Miami Beach, Coral Gables, Palmetto Bay, Coral Springs, Hialeah, Aventura, Pembroke Pines, Ft Lauderdale, Florida areas since 2000.