Hot Water Tanks
When to Repair or Replace Your Hot Water Tank
Blog Introduction: Your hot water tank is an essential part of your home, so when it breaks, you need to act fast. But how do you know whether you should repair or replace your hot water tank?
Here are a few things you need to consider before making a decision:
· How old is your current hot water tank?
· What type of tank do you have?
· What is the cost of the repairs?
· How much will it cost to replace the entire unit?
Let’s take a closer look at each of these factors to help you decide whether to repair or replace your hot water tank.
Age of the Unit
One of the main things you need to consider is the age of your current unit. If it’s more than 10 years old, it’s probably time for a replacement. Hot water tanks have a lifespan of about 8-12 years, so if yours is on the older end, it may be less efficient and more prone to breaking down.
Types of Tanks
There are two main types of hot water tanks: electric and gas. Electric tanks are less expensive upfront, but they tend to be more expensive to operate due to higher energy costs. Gas tanks are more expensive upfront, but they heat water faster and are typically more energy-efficient in the long run.
Cost of Repairs
If your hot water tank is still relatively new and under warranty, repairs may be covered. However, if it’s out of warranty, you may have to pay for repairs yourself. It’s important to get an estimate from a qualified technician before making a decision. In some cases, the cost of repairs may be half the price of a new unit. However, if your tank is older and needs multiple repairs, it may be more cost-effective in the long run to replace it entirely.
Cost of Replacement
The cost of replacing your hot water tank will depend on the size and type of unit you choose. Electric units typically cost less than gas units, but as we mentioned earlier, they also tend to be less energy-efficient. The average cost of a new hot water tank ranges from $600-$1,500.
When deciding whether to repair or replace your hot water tank, there are several factors you need to consider, including the age and type of unit as well as the cost of repairs and replacement. If your unit is more than 10 years old or needs multiple repairs, it may be time for a replacement. However, if your unit is newer and under warranty, repairs may be covered. Get an estimate from a qualified technician before making a final decision.