Water heater installation can be one of the most challenging tasks for the homeowners. Hot water being a necessity in the present life, you cannot think to go without it. Installing a water heater can be one of the most important decisions contributing to the value and comfort of your home.
If you are planning to replace the old water heater or installing a completely new system, the cost will be a big factor in your decision. A water heater installation can be expensive, varying from $900 to as much as $3,000. This indeed makes you reconsider your decision to ensure you get adequate hot water within your budget.
The water heater installation cost depends on the kind of heater you want for your home. There are two types of water heaters: tank water heaters and tankless water heaters. They both serve the same purpose in different manners. This ultimately affects their pricing as well.
Both these heaters are explained underneath with their pros and cons, and the installation cost. This can help you decide which water heater is best for you and your budget.
Tank Water Heaters
Tank water heaters are traditional heaters storing up to 50 gallons of water, and keep the water heated at the temperature you set. This tank water heater installation will cost around $900 with installation (if you are going for 40 to 50-gallon tank). This technology has been used for decades.
It is a reasonable cost compared to the other option of tankless water heaters. You do not have to worry about any complicated procedure required to install it, and you can get it installed and ready to use in 2 to 3 hours. Buying a new tank water heater will get you a unit with increased efficiency as the manufacturers are continuously updating the units.
However, on the other hand, it could be expensive in the long-term for you. Since it continuously heats the water, it consumes more energy and raises your bill. Also, you need to have sufficient space for the unit. The lifespan of a tank water heater is around 12 years.
Tankless Water Heaters
Tankless water heater installation can be rather expensive. Their cost can reach $3,000 with the installation. The good thing is, you have the opportunity to save a lot on your energy bill with tankless water heaters. They consume less energy – there is only a 5% energy loss as compared to 30% of tank water heaters.
Tankless water heaters only heat water when you need it. It has an efficient operating system and casts a lesser burden on your energy consumption. Conversely, their cost can compel you to rethink your decision repeatedly.
Moreover, on installation, you have to make sure the pipes you use are of good quality and the unit is installed in a place with good ventilation. But, the lifespan of tankless water heaters is 20 years.
Looking at the specifications, pros, and cons of both the heaters, you can decide which option to consider when deciding about a water heater installation. Tank water heaters have low installation cost, but they can cost you more in the form of increased energy bills and lesser unit life.
Tankless water heaters, on the other hand, are an expensive buy but are more energy efficient with a longer lifespan. So, whichever option you decide, remember the water heater installation cost may be high for the tankless units, but they give long-term value.
Once you’ve made your choice, here’s how to best take care of your water heater! We are all for saving you money.