When faced with a malfunctioning or inefficient air conditioning system, it can be challenging to decide whether to repair or replace the unit. Consider the following factors to help make an informed decision:
- Age: The average lifespan of an air conditioning system is typically around 10 to 15 years, depending on how well you take care of and maintain it. If your unit is nearing or has passed its prime, it may be more cost-effective in the long run to replace it with a new, energy-efficient model that can save you money on utility bills and future repairs
- Investment cost: Do a cost-benefit analysis between repairing your current system to the price of installing a new one. If the repair costs are more than half the cost of a new system and your AC unit is over 10 years old, it may be more economical to replace it
- Utility rates: Older, inefficient AC systems often consume more energy to cool the same volume of space, which makes your utility bills go up. Invest in a new, energy-efficient system, you can significantly reduce your monthly energy costs and offset the initial investment over time
- Frequency of repairs: If your air conditioning system goes on the fritz a lot, it may be a good idea to replace the unit. A new system will likely require fewer repairs and come with a warranty, providing peace of mind and long-term savings