Planning Your 2024 HVAC Maintenance Budget
Due to the scale of facilities and complexities of HVAC equipment, planning a maintenance budget ahead of time can be challenging. However, failing to create a proper budget can cause you to drastically overspend on maintenance. Planning your 2024 maintenance budget early gives you enough time to fully assess your expenses and estimate costs accurately to keep your facility running smoothly.
Continue reading to learn more about budgeting for next year’s HVAC maintenance costs, including:
- Why Planning an HVAC Maintenance Budget Is Important
- What to Consider When Planning an HVAC Maintenance Budget
- The Benefits of Early HVAC Maintenance Budgeting
- How A&G Services Can Help
What to Consider When Planning an HVAC Maintenance Budget
There are several factors to consider for an HVAC maintenance budget that, by taking the time to assess and incorporate into the planning process, can give you an accurate cost estimate. Here are some variables you should take into account.
The Prior Year’s Budget
The previous year’s budget is one of the best tools at your disposal. Referencing last year’s expenses can help you determine how much you spent on certain maintenance costs, whether you spent too much, the reason for overspending, which areas cost the most, what time of year expenses were the highest, and more. It can also highlight areas of the maintenance budget you may have previously overlooked.
While you should be cautious when referencing previous budgets, as the information may not be completely accurate and maintenance needs change each year, it’s still a valuable asset when planning for a budget that’s months away.
The state of your equipment plays a significant role in budget planning. During an inspection, it’s crucial to note whether your HVAC equipment requires any obvious repairs that would need more of the budget. Be sure to also record whether your air conditioners, commercial chillers, and boilers are in working order or if purchasing a replacement is likely. Other factors include:
- Where is your system located?
- What size is it?
- What type of unit do you have?
- How old is it?
- How frequently is it used?
It’s important to remember that maintenance costs can vary throughout the year. For example, heating and cooling systems are used during opposite seasons and should be budgeted as such. Allocating your funding during peak seasons, such as winter and summer, can prevent you from exceeding your budget.
Even with an accurate budget and routine maintenance inspections, things happen. Old equipment needs to be replaced or repaired. Supply chain shortages stall progress. There are communication gaps between departments. The previous year’s budget data was incorrect. Unexpected issues can occur anytime, but being prepared with an emergency fund can keep you from exceeding budgets and failing to maintain your HVAC equipment. Plan on allocating a certain amount of your budget towards an emergency fund.
The Benefits of Early HVAC Maintenance Budgeting
While you may face several challenges when planning your HVAC budget, doing so allows many advantages. Here are some of the benefits of creating a maintenance budget for your commercial HVAC systems:
Planning your facility’s HVAC maintenance budget allows you to better identify areas of your equipment that are wasting energy, helps you make better purchasing decisions, and highlights the performance of machinery that could be cutting into your profits. The sooner you’re aware of these cost issues, the better you can work to improve them for your next budget.
Another way early budgeting can improve expected costs is by locking down pricing before prices increase. With costs continuing to rise, planning a maintenance budget sooner rather than later can prevent you from paying more in the future.
The earlier you begin planning a maintenance budget, the more ahead you’re likely to be. Early budgeting gives you a better scope of the cash restrictions you’re dealing with and how best to allocate your funding. If there’s an issue, early planning gives you plenty of time to devise a solution, such as getting ahead of any supply chain problems that could leave you scrambling for a quick fix.
Supply chain shortages have impacted the HVAC industry for a while, and while there has been improvement, you may still experience issues. Learn more about supply chain issues and how to deal with them.
Early budgeting gives you plenty of time to assess the condition of your HVAC equipment. Checking your equipment during the budgeting phase lets you know if there are any performance issues, obvious repair costs, and energy expenditures. Catching these problems early prevents extensive repairs and poor operating systems that consume additional energy, which leads to higher prices and causes you to exceed your budget.
Budgeting your maintenance plans ensures that nothing is overlooked during the inspection process. When equipment receives properly scheduled maintenance, units require less energy, improve indoor air quality, reduce downtime, and last longer.
While the benefits of planning your 2024 maintenance budget are undeniable, they’re only helpful if the HVAC contractor you’re working with can be trusted to do the job—and who’s more trustworthy than A&G Services?
Get Ahead of the Game With A&G Services’ Maintenance Services
If you’re looking for an accurate estimate on HVAC maintenance costs and excellent services to match, turn to A&G Services. We offer various preventative maintenance services that cover HVAC controls, chiller, boilers, and even plumbing, along with onsite estimates to avoid surprise costs.
As a Texas-based service provider that’s been in the industry for almost 40 years, we know how difficult it can be to budget for something as detailed as HVAC maintenance. With many variables to account for, planning a maintenance budget can be time-consuming and take your attention away from what truly matters: running your business. That’s why our experts provide precise onsite estimates and detailed breakdowns of maintenance costs that help you budget for the future and keep your HVAC equipment operational.
Ready to get an accurate maintenance budget that lets you plan for the future? Contact us today to schedule a meeting and learn more about our comprehensive maintenance services.