Out with Oil

Filed under Homeowners on Apr 19,2022 | Tagged in: electric furnace, energy-efficient, oil, oil furnace

If you cringe every time you hear your oil furnace or boiler kick on, you’re not alone. With oil prices surging, many homeowners are wondering if switching to an electric system makes sense.

According to HomeGuide, a new electric furnace costs between approximately $2,000 and $6,000. Add to that the cost of installation. Your exact cost will depend on the size of your home, and you may also incur charges related to the removal of your old furnace, ductwork replacement or other work needed to make the conversion. These changes could save you money over time. But you’ll want to consider how long you’ll stay in your home to fully understand how long it will take to realize enough savings to cover your initial investment. This article offers a comprehensive look at all of the factors you might consider. If an oil-to-electric conversion doesn’t make sense, consider converting to a whole new house!

The Vanguard Realty Associates team is ready to help you find a new home that’s beautifully energy efficient.