$2,500 to $5,000
1 Replacing an old oil-fired furnace with a new one typically costs $2,000-$5,000 for a simple installation of a basic model, but it can cost $6,000-$10,000 or more for a larger, more energy-efficient unit with a difficult installation, such as a complex floor plan or hard-to-reach ductwork. 1 Many contractors include getting the proper permits and inspections as part of the installation process, but might bill for these fees separately. 2  Replacing an old oil-fired furnace with a higher-efficiency model may require installing a new chimney liner for $700-$1,800. The average cost to install a new furnace is $3,602. As always, the price largely depends on the efficiency and size of your furnace, as well as its heat source. We have seen homeowners spend as little as $1,500 on a new furnace or as much as $7,000. However, know that most homeowners pay between $3,200 and $4,420.  1 Oil furnace cost is roughly $2,500 to $5,000 installed, but similar to gas furnace prices, it’s not unheard of to spend $10,000+. 2  The average propane furnace cost is $3,000 to $6,000 installed. 3  Again, though, costs could reach or exceed $10,000. 1 The typical gas furnace cost is $3,000 to $6,000 installed, although higher efficiency models and/or complex installations could push the cost up to $7,500 to $10,000 or more. 2  1 Replacing an old furnace with a high-efficiency new one can also require installing a chimney liner for about $300 -$700 for a gas furnace or $700 -$1,800 for a fuel oil model. 2  If needed, make sure this is included in all estimates. 1 A building/mechanical permit is usually required to replace a furnace. 2  Permit and inspection fees are typically about $50-$300, but can cost more in some locations. 3  Many contractors include getting the proper permits and inspections as part of the installation process, but might bill for these fees separately. Natural-gas options. Installing a gas conversion burner on your existing oil furnace will cost around $1,000, but will have little or no impact on the efficiency of the unit. A gas conversion burner also may be leased from the gas company for $4.20 per month. If it was built before 1970, you may want to replace the furnace entirely rather than retrofit it with a gas conversion or flame-retention burner. Replacing a pre-1970 furnace with a new oil-fired unit with a combustion efficiency of 80 percent to 85 percent can reduce your consumption by as much as 30 percent. This simple device can save 15 percent on heating-oil use. New burners cost around $700 and rebuilt burners are available for $350. For more information on how to improve the efficiency of your oil heating system contact Ed Besch at the Oil Heat Institute, 548-1500. If it was built before 1970, you may want to replace the furnace entirely rather than retrofit it with a gas conversion or flame-retention burner. Replacing a pre-1970 furnace with a new oil-fired unit with a combustion efficiency of 80 percent to 85 percent can reduce your consumption by as much as 30 percent. If you’re going to the cost and trouble of switching out an oil furnace for something new, a geothermal heat pump may cost more ($7,500 and up) than a new gas heating system but will save big bucks and emissions in the long run.  1 Replacing an old oil-fired furnace with a higher-efficiency model may require installing a new chimney liner for $700-$1,800. 1 Many contractors include getting the proper permits and inspections as part of the installation process, but might bill for these fees separately. 2  In addition to change outs, we have detailed sections on each page about furnace repair costs with labor estimates and parts replacement on the most common services and repairs. The average cost of a new furnace, not including central air, is $1,950 to $5800. I understand how far apart that wide range is to many people looking for an average cost. The Furnace Price Guide is a here to answer your questions about the installation cost of new or replacement gas furnaces, oil furnaces, electric air handler furnaces for your home. 1 Replacing an oil-fired furnace in a central heating system starts typically costs $2,000-$5,000 for a basic installation, but can reach $6,000-$10,000 or more for complex installations. 1 A building/mechanical permit is usually required to replace a furnace. 2  Permit and inspection fees are typically about $50-$300, but can cost more in some locations. 3  Many contractors include getting the proper permits and inspections as part of the installation process, but might bill for these fees separately.
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new oil furnace should cost