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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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brandy myers
brandy myers
14:45 21 Feb 20
The technician is a great guy. He does amazing work with a good attitude & is determined to get the job done. We had... our hot water tank & boiler installed in the past & recently had an expansion tank installed. There was some difficulty removing the old one, but Paul persevered & accomplished what needed to be done. I will continue using The same technicians & surely recommend them to anyone reading this to do the more
Keagan Makayla
Keagan Makayla
23:03 13 Feb 20
My dad had been using City before me and he was so pleased with them he pushed me to use them too. So far they have... cleaned and repaired my furnace and they have just been really excellent to work with. They’re courteous, they give you options, they don’t pressure you and they’re very thorough. I strongly recommend more
Belinda Rice
Belinda Rice
17:41 06 Feb 20
Had furnace replaced yesterday. The service technicians were very professional on all levels and did an excellent job.... We are also very happy with the actual furnace. From the beginning was a very smooth process. The sales person made is very simple to choose the right furnace for our needs. We would totally recommend this company for their products and more
Justen Pinto
Justen Pinto
21:05 05 Feb 20
City Home Comfort was great throughout the entire process of getting my new furnace. Shawn initially came and explained... what was wrong with my furnace (corroborated by other quotes), went through my house in detail to find issues with the heating, and gave me a transparent pricing. He knew I was getting quotes, but let me keep the details of the quote to show to other contractors. To test his trustworthiness, I mentioned that I was interested in two upgrades (I knew I only needed one of them, which was the less expensive of the two). He let me know that the second and more expensive one wasn't necessary for my home, which built a lot of trust. The technician that installed the furnace was friendly, quick, and punctual. He was very open to questions about the furnace and other aspects of the install that I inquired about. Everything was done better than I expected, and the process went extremely smoothly. Since moving into my house, I've had many contractors do work. I have trust issues with contractors in general because they are not usually open about pricing or they do shoddy jobs, but City Home Comfort was great!read more
catalin stefan
catalin stefan
23:08 29 Jan 20
I highly recommend this company. Long story short, my furnace broke this January over a weekend and had to be... replaced. Called several companies to get a quote and found City Home to be more client oriented and professional. They also offer better labor&parts warranty and better prices then other companies I contacted-for similar more
Daniel Lena
Daniel Lena
01:31 22 Jan 20
What I like best about dealing with Shawn from City Home Comfort is how honest and knowledgeable he was compared to... other sales people I dealt with while looking to replace my furnace. It was obvious the person who did the installation was a professional, he was on time, explained his work and left everything neat and tidy afterward. Thanks for great customer service!read more
Blanca Jordan
Blanca Jordan
21:48 25 Dec 19
I would highly recommend City home comfort . We recently moved into a house in Markham. Paul fixed many items for us.... He was professional, polite and extremely helpful. We felt pricing was fair as well. It was an all around great experience. Thanks!!read more
carrie mcclurg
carrie mcclurg
15:34 24 Dec 19
City home comfort individuals provided keen insight into our unique project. I appreciated their honest evaluation of... our situation and answered all our questions. Their professionalism was outstanding. I appreciate City Home comfort service professionals and will use their services again and againread more
gary dickartmw
gary dickartmw
22:36 23 Dec 19
We found our city home comfort experience very good. Darin our installation person was very courteous, professional and... informative. It is clearly evident that he takes great pride in his work. Afterward he explained everything and how to operate each system. We are happy with our more
steve Tana
steve Tana
15:56 22 Dec 19
I just wanted to take the time to tell you how nice Chris Carey was. He was courteous efficient and explained... everything his team was going to do. He also explained about future services we will need. We will have City home comfort back for future work Thank Youread more
mark Arif
mark Arif
19:19 22 Nov 19
Fantastic service!!! Starting with the office staff who was friendly, easy to talk to, and extremely helpful. I got an... appointment right away, then received a text message with a name when the tech was on his way. He was Friendly with my dogs and respectful of my home. He answered all my questions and tided up after his work, you would never know anyone had been their. Your my company from now on !!read more
Mike Welling
Mike Welling
12:00 06 Jun 19
Recently had a new central air conditioner installed. They were very helpful and patient in educating on what was... required, offered fair pricing and the installation was clean and professional. Happy to recommend City Home more
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