How Much Does a New Water Heater Cost?

Water heaters are used to heat water hotter than its initial temperature so that it can be put to a wide range of uses. In modern times, some water heaters still have tanks, which are used to store the hot water. However, there are also water heaters that are tankless in nature, meaning that they heat the water as it is needed. Both options have their upsides and downsides. For example, water heaters with tanks are cheaper, but in exchange, there are storage costs as well as the potential for the stored hot water to run out. In contrast, water heaters without tanks are more expensive upfront, but in exchange, they can mean significant savings in the long run. Regardless, whatever it is that people choose, water heaters are important parts of their home, meaning that they merit an increased measure of consideration.

How Much Does a New Water Heater Cost?

The cost of a water heater can see incredible variation. In fact, there is one source that estimates that the usual range for a water heater will run from around $750 to $1,400, with the average being around $1,067. However, there are outliers as well, which can run from $320 on the low end to $12,000 on the high end. With that said, these are nothing but generalizations, which is why interested individuals should conduct more thorough research based on the exact kind of water heater that they are interested in.

Generally speaking, the average cost of a water heater with a tank is something along the lines of $889, which includes the cost of installation. In contrast, the average cost of a water heater without a tank is something along the lines of $3,000, which includes the cost of installation as well. The difference in the prices for these two kinds of water heaters should make the gap between them very clear, thus providing interested individuals with some much-needed food for thought.

However, these are upfront costs. For something like a water heater, comparing potential options based on nothing but upfront costs would be a mistake because most people are expecting to use them for years and years to come. In turn, this means that they will be paying the costs of that use for years and years to come as well, meaning that they need to consider what they can expect to pay on a regular basis. Once again, there are multiple options because different water heaters can use different sources of power, which in turn, means different costs over time. For example, an electric-powered water heater can cost $6,248 over the course of a 12-year span, while a gas-powered water heater of similar capabilities can cost $4,979 over the same period.

It is interesting to note that some people choose to set up solar-powered water heaters as well, but the problem is that estimating their costs can be an even bigger challenge than estimating the costs for other water heaters that run on other sources of power. Generally speaking, solar-powered water heaters are expensive, so much so that they start at $1,000. However, the exact savings that can be had by using them can see significant variation depending on people’s usage patterns as well as the suitability of their locations for solar power use.

Should You Buy a New Water Heater?

Be warned that there are other factors that need to be considered when choosing water heaters. For example, there is no point in choosing a water heater unless it can provide enough hot water to cover the potential buyer’s hot water needs. Due to this, people who are unsure about all of the things that they need to consider might want to consult a water heater specialist, who should be able to provide them with a better perspective on the whole situation.

Speaking of which, interested individuals need to decide whether they need a water heater as well. Generally speaking, they can do so by comparing the expected costs of each option. Often, paying to repair a water heater can be a smarter and more sensible choice, but there will be times when it makes more financial sense to just get something new installed, no matter how high the upfront cost might be.


Add Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ilir Sela
10 Things You Didn’t Know about Ilir Sela
Nuro
20 Things You Didn’t Know about Nuro
Paul Davison
10 Things You Didn’t Know About Paul Davison
Coupang
20 Things You Didn’t Know About Coupang
NFT Market
The Top Five NFT Marketplaces Out Right Now
Activist Investors
What Exactly is Activist Investing?
Apple Products
Five Stocks That Most Billionaire Investors Own
Venture Capital
The Rise of the Venture Capital Scene in Africa
Forest Glen, Winnetka
The 20 Richest Neighborhoods in Illinois
Stowe Vermont
A Traveler’s Guide to Hiking in Stowe, VT
Stapleton
The 10 Richest Neighborhoods in Denver, CO
Highland Park
The 10 Richest Neighborhoods in Dallas
McLaren Models
The Top Five 0-60 mph McLaren Models of All-Time
1998 McLaren F1 LM
The Five Most Expensive McLaren Models of All-Time
Review of the 2021 BMW X5 xDrive 45e
Does McLaren Make an SUV?
Hermes Klikti watch 17 x 16 mm
The Five Most Expensive Hermes Watches Money Can Buy
Louis Vuitton Tambour Daimer Cobalt Blue And Gold Chronograph 46
The Five Best Louis Vuitton Watches Money Can Buy
Chopard Alpine Eagle Ladies' Small
The Five Finest Gold Chopard Watches
Chopard
The Used Chopard Watch: A Buyer’s Guide
Gabby Douglas
How Gabby Douglas Achieved a Net Worth of $4 Million
Liza Minelli
How Liza Minnelli Achieved a Net Worth of $50 Million
Joy Behar
How Joy Behar Achieved A Net Worth of $30 Million
Ashley Judd
How Ashley Judd Achieved a Net Worth of $22 Million