Comparing the cost of a new gas furnace versus a modern heat pump

I have tried to slowly modernize my old house, but it’s hard.

My parents moved into this place in the 1980s, and before that it was owned by an old couple who had it from the time it was built in the 1950s.

Needless to say, there are relics from the past in everything from the paint and wallpaper to the old bathroom faucets and fixtures. I was shocked when I learned that the oven in the kitchen is original from when the house was originally built. I’m not sure why my parents never replaced it, but I did right after I took up occupancy here. With my job income slowly increasing, I’ve been able to afford some much needed upgrades in this place, culminating in my decision to get a new heating system entirely. Since this is a northern region and we had an exceptionally long winter this year, I can’t go without a good heater or furnace of some kind. There was a gas furnace here to begin with, but I started to wonder if I should consider an even better heating system this time around. I compared a new gas furnace to a modern heat pump to see the difference in price. Surprisingly, some heat pumps cost about as much as a good gas furnace, but they don’t require ductwork like a gas furnace does. On top of that, a gas furnace at best has a 97% efficiency rating while a heat pump can get up to 300% efficiency. That was the final determining factor in my getting a heat pump to replace the old gas furnace in the house.

Cooling industry