Water heaters aren’t a problem until you get hit by icy showers on a cold morning or they start to leak. You start contemplating whether to repair or replace your water heater by that time. Making this decision in haste can be costly, especially when you don’t consider some factors.
These factors enable you to realize your situation, analyze how much you will spend, and go for the cheaper option. So, what are these factors? Which is cheaper – to repair or replace a water heater? Let’s find answers to your questions in this article.
Factors That Can Help You Decide the Cheaper Option – Repair vs. Replace
Age of the Water Heater
Most water heaters last around ten to twelve years. If your water heater has passed that age limit and keeps getting faulty, the cost of repairing such a tank will outweigh replacing it with a new one. The average price of repairing a water heater is $500. The cost of a new tank water heater is about $1000. Meanwhile, a new tank costs about $2,500.
Although a new tank costs more, it helps you with excessive spending in the long run. If your water heater is old and keeps developing a fault, you could spend $500 for a quick repair. This doesn’t stop as you will spend another $500 within the next few months when another issue arises. Hence, you need to understand your situation before you decide to go for the cheaper option.
Expired or Void Warranties
If your water heater warranty is void or expired, you are best advised to get a new one. On average, most water heaters have a warranty of five to ten years on the parts. In other words, if any of the parts break down after five to ten years of purchase, you can get a free repair.
Besides, most water heater manufacturers also provide a warranty of 5 years in labor. This implies that if any parts weren’t installed correctly, they would be repaired for free. However, if the warranty on the water heater has expired or is void, you will have to do it yourself and pay some cash which may push the cost savings over the edge.
Rusty Tank or Discolored Water
If your water heater tank is leaking or rusty, expect to pay a considerable price to solve it. If the water tank is rusty and the tank’s warranty has expired, it is better to replace the unit. Repairing such a tank will only cost more and affect your budget. However, if discolored water comes from your faucets, you can call a professional plumber to handle the situation. Such occasions won’t cost you a lot of money.
Is it Cheaper to Repair or Replace a Water Heater?
This question often depends on your situation. If the warranty is expired, it leaks so much that is about to explode, or you have a rusty tank, it is recommended you replace the tank. Meanwhile, you should consider a repair if you are dealing with minor issues such as water temperature issues.
Your current situation will determine whether you repair or replace your water tank. Analyze your situation and select the decision that best fits it.