A modulating furnace typically costs more upfront than single-stage or two-stage models, so is it worth it? For many Calgary homeowners, the answer comes down to comfort. The gas savings over two-stage are real but modest, while the gains in quiet operation and consistent temperatures are significant. A modulating furnace may be the right investment if your home has uneven rooms, a finished basement or someone working from home. Read our honest breakdown of the pros and cons.