Imagine your 15-year-old AC unit stopped running or is running strangely and you have had to schedule an appointment to troubleshoot it. Then when your trusted HVAC contractor comes he tells you that you got two options. One is to repair it, though he cannot promise that this will solve the problem or it is just a “band-aid” or you can replace the entire unit with an upgrade version. The difference is $500 to repair with no guarantee or around $6000 to replace it. What do you do?
There is a trick that most professional abide by, and that’s the 5,000 rule. This is where you take the age of your unit and multiple it by the cost of repairs, if that total is more than $5,000 than its times to consider replacing the old unit. For example, the repairs cost $500, multiply that by 15 since it is 15 years old and you get $7,500. That is more than $5,000 and is recommended to be considered to be replaced.