We're having a local HVAC company replace our 1981 Sears Roebuck air condenser. I told the company I want to keep our oil tank, but also have a heat pump. So the dual fuel system will be installed (Gibson 13 SEER). My question is two fold.
1. We live in a single family home, with 1050 square feet on the top. The basement is the same spec, but only half is finished but vented. We rarely open the basement vents. I read you don't need more than a 2 ton unless you get into the 1400-1500 square feet range. Is this correct?
2. I told my co-worker that we're getting a new heat pump that will use oil after the outside temp falls below 40 degrees. He's firmly stating that we shouldn't go that route, and that due to the cost of oil, using emergency heat (aux heat) when it gets that cold is still better in terms of savings than oil heat. Is this true? Should I just avoid integrating the oil system and go strictly with the heat pump? We're going to sell our house in 5 years, and I always though a dual set up was best (and as such a better investment) but am I totally off base?
We're paying a grand total of $2900 (Lynchburg VA area). Just want to ensure I'm not getting the raw end of a deal before the work commences tomorrow.