If you have electric furnace, and it is more than 10 to 15 years old, or the cost of repairs to keep it running merits changing the electric furnace, then it is right decision to change the unit.
To change the electric furnace a qualified master electrician certified by ESA, is the safest way to go. Fortunately, house depot is qualified to change the unit.
Pro and cons of Electric furnace
The only drawback to non fuel burning heating system, electricity is more expensive. But we have to remember the efficiency of electric furnace or heating system is 100%, unlike any other fuel burning system