Owning a home is one of the best investments you can make. But that doesn’t mean being a homeowner isn’t sometimes fraught with unexpected expenses, some of which can be major. This is where having a good home warranty comes in very handy.
Says the experts at Cinch Home Services, purchasing a house can come with its surprises both good and bad. One surprise you do not want catching you off guard is the replacement of one or more of the home’s major systems or appliances. All appliances are going to need maintenance at one time or another, but once the product’s warranty runs out, you will find yourself having to pay out of pocket.
But if you invest in a buyers home warranty, it can act as a temporary insurance policy for your home’s covered appliances along with its built-in systems. If all goes as it should, you won’t have to pay out-of-pocket for something like a new heating and cooling system (HVAC).
Speaking of HVAC, how do you know for certain when it’s time to replace your existing system? According to a new article by Shared, there are a lot of benefits to owning your own HVAC system. It will keep your home at comfortable temperature all year round. But the hard part about owning your own HVAC system is that eventually it will need to be replaced with a newer model. At the very least, it will require upgrading.
When your system requires updating, it will give off certain signs. Here are some tips on how to recognize those signs which should help you decide whether or not to have a new HVAC system installed.
The HVAC System’s Age
Says Shared, the average life expectancy for a residential heating and cooling unit installed outside your home on a concrete pad is anywhere between 10 to 20 years. Should your unit be older than 20 years it may have lost much of its original efficiency and require upgrading to a newer model.
For example, modern HVAC units are far more energy efficient than older models which were not engineered with the environment in mind. While you’ll be paying for a new unit in the short run (that is, unless you have a home warranty which covers the cost), in the long run you will be saving money on your energy bill.
Energy Bills are Through the Roof
There’s no denying that once President Biden signed executive action into law surrendering U.S. energy independence on behalf of a Green New Deal, prices for gas and energy has spiked. But a recent report concluded that the AC unit repair or replacement demand all across the world was 111 million in 2018 alone. One of the main reasons for this is high energy bills which have only gotten worse during the past two years.
If energy bills in your household have been increasing steadily or even spiking quickly, the high cost of energy might not be the only culprit. It could be a major sign that your HVAC unit isn’t running properly any longer.
If that’s the case, you will want to consider replacing the HVAC system with a new, energy efficient model. Sadly, repairs won’t stop the increase in your energy bill if your system is outdated and old.
Once your HVAC unit fails to cool your home properly during the peak of the summer months, it’s definitely time to explore a new unit. Shared claims that the global market demand for HVAC systems in 2019 was around $240 billion. This demonstrates just how important it is to maintain a highly functional HVAC system in 2023 and beyond.
Lots of the newer HVAC models contain features that assist you with keeping your home at the optimum temperature. Some are equipped with advanced high tech that’s engineered to increase your homes energy efficiency, thereby saving on your monthly energy bill.
Strange Noises and Smells
Should strange mechanical noises be emanating from your HVAC unit, it could mean that interior components are dying. That means you have no choice but to look into a system replacement. The noises are usually the result of condenser issues, compressor problems, or a bad fan motor. While technically speaking you can have these components replaced it’s more cost effective to purchase a brand new unit.
Keep in mind that some noises are normal especially when the fan is running. But banging and pinging noises are not normal. Nor are strange smells like burning rubber or metal-on-metal. If this is happening, you need to immediately look into purchasing a new energy efficient HVAC system. Hopefully, you will have invested in a home warranty which will pay for it.