Cheap Furnaces – How to Get a Furnace for the Lowest Price

1. Go for High-Efficiency

Did you know that the latest high-efficiency furnaces can save you up to 35-40% off your heating costs compared to older less efficient heating systems?

To decide whether it’s worth replacing your old furnace, consider how old your current one is, how well maintained it’s been and of course, what your average heating costs are. If your system is requiring costly repairs, replacing it might be a good option.

If your current unit is 15-20 years old, there’s a good chance it’s operating somewhere in the 60 – 85% AFUE range. This means a higher efficiency furnace – one with a 95% efficiency rating or more – while costlier initially, could pay for itself in a few years and save you money in the long run. This is especially true if you plan on staying in your current home for the foreseeable future.

Higher-efficiency furnaces also operate more quietly and they’re better for the environment because they use less energy.

You should aim for efficiency ratings of at least 92% AFUE, but ideally at least 95%. Don’t bother with “mid-efficiency” furnaces in the 80% range – these are typically designed for warmer climates like the lower US states, and typically aren’t even available in Canada.

2. Go for Natural Gas or Propane

Modern gas and propane furnaces are widely sold, making them a popular choice of heating system in Canada. In addition, they generally have the lowest ongoing operating costs. If you live in a city or large residential area, natural gas is your best option. If you live in the countryside, go with propane.

If you live in a large city such as Toronto, your odds of finding a good deal are better as the competition among HVAC dealers is fiercer. Shop around and request a free quote from local distributors with the quick and simple form at the top of this page. New natural gas furnaces will generally cost at least $2500 – $3000 (with installation) on the low end, and go up from there.

A common alternative is a propane-fired furnace, fuelled from a large refillable propane tank that is installed on your property. This tends to be the most economical if you don’t have natural gas, but it’s best to speak with a licensed HVAC contractor about what makes the most sense for your needs and your region, as fuel costs tend to vary by province.

3. Consider Financing and Utilize Rebates

Another option to consider is financing, which may allow you to get a brand new system with either a reduced or even no upfront cost. Instead, you’ll be able to spread the cost out with easy monthly payments. Term length can vary from 12 months all the way up to 15 years, and the monthly payments vary accordingly so you can find something that fits your budget.

The application process is often fairly simple and often be completed over the phone or online.

Ask a licensed HVAC contractor, like one of our local partner companies whether the furnace you’re considering qualifies for any current utility or government energy incentives and rebates. They will also be able to help you understand and navigate the sometimes multi-faceted rebate process.

Rebates can help save you even more money in the long run, so at least looking into rebates is never a bad idea.

4. The Cheapest Option is Not Always the Best One

It’s a good idea to look for a good deal. Just remember that if something seems too good to be true, it probably is. A new furnace for under $2500 in most Canadian cities may seem like a steal, but could cause more headaches than it’s worth in the long run. Just make sure you do your research about the company.

A hastily-installed furnace is far likelier to break down or function incorrectly, leading to more headaches and expense in the long run. And if the company gave you such a low price, how likely are they to be there when something does go wrong? Established companies may charge a bit more, but they’ll also provide a good warranty on the labour and installation, and are likely to actually be available when you need a service call.

Related: Average Furnace Prices in Canada

Also, cheaper models tend to be single-stage, which means they only have one heating output level which can cause the unit to cycle on and off more frequently. This is more wasteful and can cause your home’s temperature to fluctuate more. Consider what your comfort is worth.

Do as much research as possible on the best furnace brands and models.

And for contractors, don’t just limit yourself to online reviews, look at the company’s work history, if they have any outstanding disputes, are they fully licensed and insured, are they a part of any industry organization, and so on.

We realize it can be difficult to assess all of this, which is why we created the FurnacePrices.ca Certification program, which verifies key background info for local Canadian HVAC contractors, providing consumers with more transparency and peace of mind when shopping for a new furnace or A/C!

Also, be sure to check out our FREE 7-Step Furnace Buying Guide!

5. Brand Name Isn’t Everything

Remember that some companies spend a lot of money on marketing, so this doesn’t necessarily mean their products are significantly better or more reliable than other brands.

As with any major purchasing decision, doing your research and comparing your options is always a good idea. It’s okay to stick with a brand you already know and trust, but don’t hesitate to check others out. They just might be able to offer you a better price with all the needs and features that you’re looking for in a new furnace.

Often the most important factor in an efficient and reliable furnace is quality installation and workmanship, proper sizing, and regular maintenance. So look for a deal, but don’t be afraid to pay a bit more upfront to save more over time in reduced service calls, and a more comfortable home!