Our furnace is circa 1987, and the heat pump/AC was replaced around 2001. I know that the days may be numbered for one or both parts of the system. When it was inspected right after we purchased in 2011, I was advised to replace the whole system whenever it is that either part goes.
What should I be thinking about? I’d like to have a short list on hand in advance.
A ten year parts and labor warranty has been the best part of our most recent two heat pump/AC purchases (Arizona). We were able to get the warranty added as part of the price negotiations at the beginning.
We’ve never had a major problem but several minor ones. Our house has two units and both have had the coils replaced once under the 10 year warranty.
Go as efficient as you can afford.
It’s also better if the unit doesn’t break at peak season. 
My understanding is that heat pumps are the most efficient electrical option.
On the subject of replacement predictions…when we bought our house 23 years ago this September, it was pointed out that the boiler was probably 40+ years old, and we should probably consider replacing it. Boiler is still going strong at 60+ years of age. If we had replaced it with a modern one, it would be a good bet that we would be looking at our second replacement about now. We have considered replacement for efficiency reasons from time to time, and do keep up on the options, should disaster strike.
Local conditions determine whether or not a heat pump is desirable. Our Door Co WI (ie up north) condo had one but auxiliary heat was needed in winter- all electric.
Here in Florida our neighborhood does not have gas piped in. Electric heat pump good for us- mainly air conditioning use. The SEER values needed depend on climate.
Do online research for reviews. Quietness and reliability and other issues you read about. Choose a reliable contractor that carries brands you deem acceptable.
Maryland suburb of DC. No gas lines or propane in the neighborhood - but at least the electric lines are buried! Basement, first and second floors. Fully underground finished basement - not a walk-out. Unfinished attic with fiberglass insulation in the attic floor. Square footage described as1150 but that must be without including the basement.
I know that when the system does die, it is likely to at a time of year when we won’t have the luxury of waiting and comparison shopping.
Get a Trane. Far superior to other heat pumps. Many of our neighbors have replaced theirs with a Trane.
My husband is an HVAC contractor. The Trane advertisement says “Nothing stops a Trane”. My husband says…“Yep, you can’t stop something that never runs.” Opinions vary:) Happymom…will ask hubby for his recommendation now that I have a little info. Might take a couple days. Will message you.
I would look for a map on it that shows how to get out of that neighborhood, into a better development.
[/sarcasm]
All kidding aside, you might have some luck asking others in your association what they learned when their units were replaced. Additionally, the simple point of asking others might lead you to someone else considering the same repair, and together you might be able to save a bit on labor if they only have to run one truck/crew out for both jobs.
LOL @3puppies ! I wanted a place with a gas line, but this was the best of the short sales at the bottom of the market in 2011. Given the market recovery in our region, we aren’t moving anywhere else soon. Do like the bay window though and the whole leave-it-to-the-HOA thing about mowing the front and side yard of our end-unit.
Working in the back yard yesterday, I saw that our current heat pump is a Trane.
Heat pumps are okay if your winter temperatures don’t go below 40 degrees often. In colder climates, heat pumps will not be able to put out enough heat to warm your house. Heat pumps are basically your AC working in reverse (reverse Carnot Cycle in thermodynamics).