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Understanding HVAC System Costs: What You Can Expect to Pay

HVAC system

In most areas of the world, HVAC systems are necessities and Canada is certainly no exception given the variable climate and harsh winters. So a properly functioning furnace or air conditioner is simply a necessary cost that’s part of home-ownership. 

That said, you may be wondering about the actual costs associated with buying a new HVAC system for your Toronto-area home. How big of a hit is your bank account going to take? Is there financing available? 

We’ll answer all of these questions and more below. Without further ado, let’s break down the average cost of a heating & cooling system. 

HVAC Costs By System 

The cost of your heating or central air conditioning system will depend upon the type of systems it’s comprised of. For instance, a combination of a furnace and central air will have a different total price than the combination of a boiler and ductless air. 

To help you determine the exact price of your system, we’re going to review the average prices of each individual system below. 

Central AC

Central air conditioning is one of the most common types of air conditioning in use today. It consists of a large compressor as well as a series of ducts. These ducts are directed into each room of the house, allowing the entire home to be cooled by a single unit. Many homes in Canada, especially if they are heated with a furnace, will already have built-in duct work.

To have central AC installed, you’re probably going to have to pay somewhere from $3,500 to $7,300. The average price of central AC installation sits around $5,000 but will vary on a number of factors, like the model you choose, its efficiency rating, and so on. 

Note, however, that if your home is particularly large, you might have to pay even more. The larger the condenser unit needed, the higher your overall costs will be. 

Ductless Mini-split System

Ductless mini-split systems are small climate control units designed to accommodate one room at a time. Not only are they capable of providing heat and cold, but they also operate without the use of ducts. As such, their installation costs can be relatively low. 

Typical costs for a ductless mini-split system run from $2,000 to $4,000. The average is around $3,000 and includes installation. 

It’s important to note, however, that this price only covers one room or part of the home. If you’re looking to heat and cool multiple rooms in your home, you’ll need to pay for several indoor ‘heads’ and possibly more than one outdoor compressor. Therefore the total cost can be $5,000 – $7,500+ or more for a large home.


Like central ACs, furnaces make use of duct systems. Utilizing gas or electricity as fuel, they create hot air, and then blow it through said ducts to everyone room in their corresponding home. As such, they can heat entire homes with a single system. 

The cost of a furnace is typically a little lower than the cost of a central AC, typically ranging from $3,000 to $6,000. The average is around $3,500 – $4,000. 

Make note, though, that if your home exceeds 2,000 square feet, and if you opt for a top of the line model, you may pay closer to the higher end of that spectrum when it’s all said and done. The bigger your home, the higher the cost of both the furnace unit and its installation. 


Another heating option is the boiler system. Whereas furnaces blow hot air into every room in the house, boilers push hot water into radiators located in every room in the house. So, like furnaces, they can heat entire homes with a single heating entity. 

Boilers are more expensive than furnaces, typically coming at between $4,000 and $7,500. They average around $8,500. 

Again, if your home is particularly large, your boiler system will be even more expensive. Not only will the boiler itself have to be bigger and more powerful, but you’ll also need to install more water pipes as well (unless your home already has them of course). In homes over 2,000 – 3,000 square feet, it’s not uncommon for boiler systems to approach $12,000. 

Hot Water Heater

You can’t have a proper HVAC system without a hot water heater. After all, no one likes cold showers. 

Fortunately, hot water heaters are fairly inexpensive. Whereas tank water heaters can be installed for between $1700 and $2,900, tankless water heaters can be installed for between $3,200 and $5,000. 

Can You Finance an HVAC System?

Skeptical as to whether you’ll be able to afford a new HVAC system? If so, you needn’t worry. There are financing options available, including the following. 

Credit Cards

If you wish, you could charge your HVAC expenses to one or more credit cards. By taking out a 0% intro APR credit card, you might even be able to pay off the expenses before interest sets in. This would allow you to pay the cost of the HVAC services (and only the cost of the HVAC services) over a span of 12 to 18 months. 

Note, however, that if you don’t pay off your expenses within the intro period, you’ll be hit with substantial interest charges. As such, this is a risky move. 

Home Equity Loan

If you have substantial equity in your home, you could consider taking out a home equity loan. This is a low-interest loan wherein you borrow money with your home equity as the collateral. It enables you to pay big expenses over time whilst incurring only small amounts of interest. 

Make note, though, that home equity loans can be risky. Not only can their interest rates fluctuate, but, if you fail to pay them off, you could end up losing your home. 

HVAC Company Financing Programs

Your best bet is to hire an HVAC company that offers financing programs. These companies offer low-interest financing as a means of assisting customers on small budgets. 

The best thing about these programs? They come with little risk. Because their interest is low and because they don’t force you to put your home equity up as collateral, they have a very small negative financial impact. 

Looking to Install an HVAC System in Toronto?

What do you say? Ready to install an HVAC system in your home? If so, and if you’re in need of an HVAC company in Toronto, City Home Comfort has you covered. 

We offer a variety of HVAC systems, including but not limited to air conditioners, furnaces, boilers, and ductless mini-split systems. Offering financing on all of our services, we can accommodate all budgets. 

Contact us today to discuss your needs! 

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City Home Comfort is a family-owned and operated company that has been serving the Greater Toronto Area since 1981. We offer 24-hour service, 365 days of the year with fully-trained, licensed and insured technicians for all residential and commercial needs and applications.

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