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Replace or Repair My AC - What's the Best Option Financially?

When your air conditioning unit starts to show its age, you might wonder whether it’s worth fixing or if you should just replace it. The average lifespan of an AC unit is somewhere between 10 and 15 years. But if you’re not sure what kind of condition your current unit is in, this information doesn’t do you much good when making a decision. In this article, we will break down the ways you can estimate and compare the five-year costs of an AC unit repair and replacement.

Calculate Cost to Repair

If your air conditioning unit has stopped working as efficiently as it once did, you may want to think about repairing it instead of getting a whole new system. Figuring out the costs associated with a repair over the course of five years can help you decide which of these options is the best for you and your home.

Cost of Immediate AC Repair Need

The cost of diagnosing and repairing your current AC unit will vary depending on the severity of the repairs that are needed. Get a professional to assess what type of AC system you have and what it will take to get it running as close to new as possible.

Monthly Energy Bills for Five Years

Figure out an average of your previous monthly bills over the last five years and try to gauge how that might change if you repair your current air conditioner. Keep in mind that if your current unit is repaired, it may end up running more efficiently and bring some of those bills down.

Annual Repair and Maintenance Costs

With an older AC unit, if you have to repair it once, the odds are good that you will have to repair it again. As the unit ages, parts are going to be more and more difficult to find and therefore more expensive. For example, if your current air conditioner still uses Freon as a refrigerant, this could cause problems since Freon is being phased out of production. It will only get more difficult to find as time goes on.

Read Also: How Clean Air Ducts Affect Your Children’s Health

Calculate Cost to Replace

If your current AC will eventually give you diminishing returns as it ages, you may want to consider purchasing a whole new unit. There are a few hidden savings when it comes to this route that you may not know about. Taking advantage of them might make the initial cost of the unit worth it.

Initial AC Cost

A new AC unit can be more expensive than repairing an old one, but a new unit will likely be a lot more energy efficient. Although the initial cost may be more, you will probably wind u saving more long-term. That’s why it is so important to shop around for an air conditioner that can do everything you need it to and that it has the right amount of AC tonnage for your home.

Tax Incentives

If you buy a qualifying central air conditioner, there are tax incentives available to you that can help offset some of the initial cost of the unit. Installing high-efficiency cooling equipment in your home might make you eligible for up to $500 in tax credits.

Monthly Energy Bills for Five Years

If you are buying a new air conditioning unit, your monthly bills are almost guaranteed to be lower than they were with the old unit. New air conditioners are much more efficient and better for the environment, too, which is good for your wallet and the earth.

Repair and Maintenance

A new air conditioning unit is much less likely to need maintenance or repairs within the first five years you own it. Depending on the age of your current unit, a newer model will also be a lot more energy and cost efficient. It’s always important to consider how much your peace of mind is worth and factor that into the five-year cost of a new air conditioner too. These are all factors you should consider when deciding whether to repair or replace your AC unit.

Read Also: Ideal Room Temperature for Productivity When Working at Home

Still Have Questions?

No matter how accurately you try to estimate the costs of either repair or replacement, they are only going to be ballpark figures. Connecting with a professional is the best way to get a more accurate comparison between whether you should repair your older AC unit or buy a new one. Aire Serv can give you a good idea of which option will save you the most money in the long run, helping you make the decision that is right for you.