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It can be a challenge finding a cheap furnace that offers good quality and high-efficiency operation at an affordable price. But it doesn’t have to be.
Here are 6 Tips for Canadians on how to get a good deal on a new forced-air furnace for your home. Skip to the bottom for our recommendation on one of the best all-around brands of furnace, offering good performance and solid value.
Furthermore, dealing with a trusted and reputable contractor will help you save in the long run by getting a quality installation and good labour warranty.
1. Go for a High-Efficiency Furnace
Finding a good deal is great but you shouldn’t forgo quality and energy-efficiency just to save a few dollars – the cost, in the long run, will be higher. You should aim for efficiency ratings of at least 95% AFUE.
Older furnaces may often be “mid-efficiency” furnaces in the 80% range. Modern ENERGY STAR® models are much more efficient to operate and will keep your home more comfortable too.
A higher efficiency model might cost slightly more initially but can save you money in the long run, and may even qualify for government rebates.
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 $3000 including installation on the low end, and go up from there.
3. Consider Financing or Rent to Own
Another option to consider is financing which may allow you to get a brand new system with no upfront costs, instead spreading the cost out with a simple monthly payment.
While this doesn’t make your furnace cheaper per se, it can make it more affordable by spreading out the cost with manageable monthly payments.
The application process is often simple and straightforward and can often be completed over the phone. 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.
Rent to own programs are essentially a type of financing. The benefits include full-coverage on repairs, a flat monthly rate, and some companies offer guaranteed approval regardless of credit rating. See here for a full breakdown of the details, pricing, and pros & cons of renting. However these can also include onerous terms and tough to get out of contracts, so proceed with caution.
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. Getting a really cheap furnace for under $3000 in most Canadian cities may seem like a steal.
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.
5. Brand Name Isn’t Everything
Remember that some companies spend a lot of money on marketing and this doesn’t necessarily mean their products are significantly better or more reliable than other brands.
While brands like Lennox and Carrier are popular and widely sold systems, you will certainly pay a premium for that brand name. And while their products may be generally solid, they certainly aren’t the most budget-friendly in most cases.
While these companies may have relatively cheap furnace options, compared to their higher end models, they will still tend to be costlier than other brands.
6. So What Do We Recommend?
A popular widely available brand such as Goodman offers a good balance of reasonable quality and affordability. While their products are basic, they usually get the job done and parts are widely available.
That being said, there are a number of other major brands that also have decent entry-level models that are more affordable than their top-of-the-line units, which are worth considering.
So there are options from Trane, Rheem, Amana, KeepRite, Napoleon and others that can be had for a good price.
A new gas furnace can start in the $3000 – $4000 range give or take including installation in most cities across Canada.
Start by requesting free quotes from our trusted local distributors in your area!
Stay warm and keep your wallet full with cheaper furnaces!