It is tough to replace or repair a water heater, especially if keeps breaking down. To make the choice easier for you, we have listed down four things you should consider before opting for repairs or replacements.
How Serious is the Problem?
If your water heater has stopped working, it is important to assess if the problem is solvable or not. If the water heater’s tank has started to leak or is corroded, you can’t do much about it. The best thing to do in this case is to replace it. However, a leaking pressure-relief or drain valve can be repaired.
Age of the Water Heater
Tankless water heaters last for more than 20 years, whereas gas and electric tank water heaters last around 10-15 years.
Utilizing this knowledge, if the water heater in your home is close to the end of its lifetime, it is sensible to replace the water heater instead of replacing it – mainly if the repairs are quite costly. Besides, doing major repairs to anything near the end of its life would take you very far. The same is the case for heaters.
Water Heating Bills
Have you observed that you need to turn the shower dial further to attain the same water temperature as before? This signifies your water heater becoming more energy-hungry, resulting in longer run times and more energy consumed to produce the same results. This eventually leads to higher energy bills.
Water heaters make up about 14% of your entire energy bill, which is why having an inefficient water heater is not something you can afford long-term. Consequently, if the water heater in your home is old and runs longer to produce the same hot water as before, it may be time to replace your water heater.
Frequency and Cost of Repair
Performing a simple cost-benefit analysis every time your heater breaks down is a wise thing to do. Use the 50% rule, which says that any repair which costs around 50% of what it takes to replace a water heater is not worth it. Consider investing in a replacement instead of as it will be more beneficial long term.
On the other hand, also keep in mind the frequency of the repairs. Sometimes, the current repair cost would not be as 50% of a new heater, but you must do multiple repairs due to the heater’s age. In these situations, ask yourself how many times your heater has broken down in the last couple of years. Is the heater near the end of its life? If the water heater breaks down often or is closing in on its lifespan, it is better to get a replacement.
Putting Everything Together
Spending money on repairs for a heater you know is past its prime is a waste of money. Taking out the time and extra cash by replacing the heater can be helpful in the big picture.