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Old 12-14-2009, 01:45 PM
 
Location: Zone 6- South Jersey
258 posts, read 1,048,041 times
Reputation: 90

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Hi everyone,
I just got back from the home inspection on our potential 'first place' and am a little nervous. The inspector said the furnace, a/c and gas water heater are from 1990. He said to replace the heater asap to prevent leaks etc.

If we replace the furnace and a/c, will it cost appx $5k? The house has gas heat.

Should we ask the sellers for a concession towards the replacement cost?

Any advice will be greatly appreciated!!!

Thanks.
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Old 12-14-2009, 01:56 PM
 
Location: MN
761 posts, read 3,041,703 times
Reputation: 442
Depending on who does it, and the going rate for your area, 5k may just be the furnace and another 2-3k for the A/C. Call your local HVAC companies and get a general quote as prices for these items vary by region.
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Old 12-14-2009, 02:18 PM
 
26,589 posts, read 52,286,267 times
Reputation: 20413
Real Estate is all about negotiation...

Just don't be surprised if the Seller declines... from their prospective... all the items are safe and functional...

A lot of the Realtors here will not sell without a Home Warranty... even if they have to pay for it out of their commision. I've known quite a few water heaters that failed under warranty and were replaced for the deductible.

I don't know where the home is... things tend to be higher in CA...

Heat Exchanger cracked on Mom's 42 year old Furnace... estimates were between $3800 and $4500 to replace like for like.

I was able to buy a high efficiency furnace and all the parts for less than $1400 and took a weekend to install because of the outside combustion air and condensate high efficiency furnaces require... and that included the permit.

Water Heaters in CA run about $400 now plus install...

Did a 100% furnace and a/c install in my brothers house including power, gas line, venting and ducting... $2400 for parts +/-

On the plus side... going new will also give you the opportunity to get the most energy efficient units if you desire... can be substantial savings, especially if you use heat A/C a lot.

If it was my home and I wanted to sell... I think the most I would do is credit you $1500 max... this way, I'm out of the loop and you can do what you want.
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Old 12-14-2009, 02:21 PM
 
Location: Zone 6- South Jersey
258 posts, read 1,048,041 times
Reputation: 90
I should have said the house is in Cherry Hill, NJ- Philly outskirts.
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Old 12-14-2009, 02:29 PM
 
Location: NJ
4,121 posts, read 9,192,928 times
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What is the life expectancy of a furnace? 1990 is still less than 20 years old. I would think a furnace should last longer than that but I don't really know.
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Old 12-14-2009, 02:54 PM
 
26,589 posts, read 52,286,267 times
Reputation: 20413
Quote:
Originally Posted by ansky View Post
What is the life expectancy of a furnace? 1990 is still less than 20 years old. I would think a furnace should last longer than that but I don't really know.
I've got some older central furnaces dating from the 1920's that work just like the day they were installed.

As long as the heat exchanger is OK... most any other part is replaceable...

Newer... read that to be High Efficiency Models... have a lot more that can go wrong and I wouldn't expect one of today's models to last anywhere near as long.

Heating and A/C is always about the cost of repair vs spending the same money towards upgrading for Energy Efficiency...

Water Heaters... if the location is where a water leak will not cause damage... I will not replace unless it is leaking... the worst case is waking up with no hot water one morning.

If a leak will cause floors to buckle, ruin carpet and/or furniture... it makes sense to not only replace but more important to add a water heater pan to capture water from future leaks and pipe it outside...

Totally off topic... I'm much more concerned about homes with in-slab piping... seems subdivisons here are plagued with leaks... starting once the home is around 25 years old.
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Old 12-14-2009, 07:10 PM
 
Location: Zone 6- South Jersey
258 posts, read 1,048,041 times
Reputation: 90
Thanks for the responses.
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Old 12-14-2009, 08:14 PM
 
Location: SoCal desert
8,093 posts, read 13,231,206 times
Reputation: 14870
And if you end up getting the home - remember to check your utility providers' web sites for rebates for energy savings. Also check the web sites of the companies who are selling the equipment.

I replaced the A/C, the heater, and the water heater about 9 years ago. Got rebates from the electric company, the gas company, Carrier Corp., and the state of California. I had to wait for the money after installation, but it basically paid for half once all the checks were in.
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Old 12-15-2009, 04:02 AM
 
20,793 posts, read 53,979,309 times
Reputation: 10530
Chances are that the sellers know that the furnace is 20 years old and that was taken into consideration when they priced the house in the first place. It never hurts to ask but don't expect them to come down in price because of that. There are a lot of rebates to be had for installing high efficiency furnaces/appliances so check into those. 5K sounds reasonable to replace the units.
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Old 12-16-2009, 06:21 AM
 
Location: Ridgewood
302 posts, read 1,926,085 times
Reputation: 190
I would doubt the age of the equipment was taken into account when the house was priced. Like Ultra said, from the owner's perspective everythings safe and functional.

It would probably cost $800- 900 to replace a gas 50 gallon water heater. The vent connector (flue) should probably be changed from 3" to 4" and you'll need a bonding jumper. That increases the cost a little.

Have your attorney put some money into escrow to cover an A/C condenser unit, since you probably didn't test that. I'm not sure if you're using attorneys for closings in South Jersey yet.
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