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One of the easiest ways to determine which type of furnace will work best for your home is to contact a professional in your area. Many HVAC companies offer free consultations to help potential customers determine if they need a new system and which type would work best for their home and the community’s climate.

Overall, heating your home with an oil furnace tends to be less expensive than heating your home with an electric heating system. Oil heating systems stay warm for longer periods of time without drawing a constant electrical current to maintain a temperature. Plus, heating oil systems typically have a longer lifespan and lower price tag than their electrical counterparts, resulting in short- and long-term savings.

Radiators are a popular home heating choice in older homes, but they are becoming less common in new-construction homes. According to a 2022 report by Elements Visual Capitalist, only around 1.3% of new single-family homes have radiators and similar heating systems, such as baseboard heating.

While they may not be as popular as they once were, radiators today come with more energy-efficient features that can make them practical for modern homeowners.

The average cost to replace or install a new HVAC system is around $7,500. However, the price can range from $5,000 to $12,500, depending on factors like the size of your home, the type and brand of the unit, and your specific heating and cooling needs. If you only need to replace certain components, the cost will be lower; for example, a new AC unit can cost between $2,200 and $5,500, while a new furnace costs $3,200 to $6,000. If additional work like new ductwork is required, the total cost could be as high as $22,000. It's best to contact a local HVAC company for an accurate quote.