Every year around this time, millions of Americans wait to receive their tax refund. A large portion depend on their refund to pay off debts. Some like to use that extra income to plan a vacation or upgrade their home. However, a new HVAC system is on average not very high on the list, but it should be. Here are five reasons why you should consider investing your tax refund in an HVAC installation.
1.) The Timing of a Heating and Cooling Installation Can Dictate How Much You Pay
Just like almost every industry, market demand can dictate how much you pay for a good or service. For example, the price you pay for an airline ticket is much different during peak tourism times than let’s say early February. It is the same model when working with HVAC contractors. The heating and air conditioning industry is a lot like a roller coaster. During months that experience extreme temperatures, your heating and cooling system experiences added stress as it runs continuously. As a result, many HVAC contractors are flooded with service calls. When the demand on labor is high, the supply on labor is low, and when the supply on labor is low, your HVAC replacement cost increases. Some homeowners during these peak months have no choice but to bite the bullet on a new HVAC system. If your 15 year old air conditioner refuses to produce cold air on a 105 degree summer afternoon in July, it might not make sense anymore to put another $500 worth of repairs in it.
Tax Refund Season Falls in a Slow Time of the Year for Heating and Cooling Installation Companies
For homeowners with older heating systems who are proactive about home improvement, tax refund season presents an opportune time to lower your HVAC system cost. Starting in late February, throughout March and into April usually brings very mild weather throughout the Midwest. Mild weather decreases the demand for repair services which directly impact the demand of HVAC installation service. When demand is down, so is the cost the consumer usually pays. From a timing perspective, it does not get any better for the consumer. Please note, while demand does impact pricing, it is not drastic. Most ethical heating and air conditioning companies will not fluctuate their pricing more than 10% throughout the year. But 10% can add up to a lot when you are considering an investment in the thousands of dollars.
2.) A Central Air Installation on a New High Efficiency System Will Save You Money On Energy Bills
How many times have you bought something with a tax refund, only to barely use it, lose it, or regret it? What if you actually put that extra income into something that will not only make you feel more comfortable inside your home, but save you money on energy bills in the process? If your current HVAC is just five years old, it is probably outdated. Many of the new baseline split system models are more energy efficient than the high end models a decade ago. What that means to you is that if you currently have an HVAC system fifteen years or older, there is a great chance that you are paying 20-30% more in energy bills than you could be with a new high efficiency HVAC system.
DID YOU KNOW?: 4.2 Quadrillion Btu (Quads of Energy) will be saved between 2006 and 2030 as a result of the EPA increasing the minimum efficiency requirements of air conditioning systems from a 12 SEER to a 13 SEER. (Department of Energy)
3.) Many HVAC Installation Companies Offer Financing on New HVAC Systems
Even in the event your refund does not fully cover the cost of a heating system installation, many HVAC installers now offer a variety of competitive financing options. This can help alleviate any out of pocket costs related to having a system installed. Worried about a bad credit score preventing you from financing? In a lot of cases, heating and cooling companies will have a financing option for low credit scores. Do not be afraid to ask about your financing options as this payment method is very common.
4.) Your Maintenance Costs on Older Central Air Conditioning Systems are Beginning to Skyrocket
One of the most drastic trends in the HVAC industry is the rising price of r22 freon. As part of government regulation enacted decades ago, r22 freon is continually being phased out of the market. Just like HVAC installation, when supply is low, demand is high. When demand is high, so is the price. Most central air conditioners over 15 years old use r22. In the event you need to ad freon to your existing AC unit, it is going to cost you four to five times as much as it did just five years ago. Upgrading to a newer model will save you money monthly and annually as you properly maintain and service your equipment.
5.) Bundling Your Heating and Cooling Installation Will Save You Money
It makes perfect sense. If you are going to hire an HVAC install team to come out and install a new HVAC system, why pay them only to replace your furnace if you know you’ll eventually be upgrading your air conditioning system. If you are paying for the time it takes them to set up the install, you might as well knock out both. Many of the new incentives help consumers save on full system installations.
Full System Installations Types that Vitt Heating & Cooling Specialize In:
- Central Air Installations
- Heat Pump System Installations
- Boiler System Installations
- Radiant Floor Installations
- Ductless Mini Split Installations (Ductless HVAC)
Considering an HVAC System Installation In the St Louis Area?
Vitt Heating & Cooling offers 100% FREE quotes on a new HVAC system installation without the gimmicky sales tactics. We would love the opportunity to earn your business. To get more information on an HVAC installation, give our office a call at (314) 351-5580.