It can sometimes be challenging to figure out when it’s the right time to replace a large home appliance, such as a water heater. Of course, you don’t want to spend needlessly on an upgrade. But you also don’t want to be investing in repairs that won’t be lasting. The following are some considerations as you weigh your decision to repair or replace your water heater.
The Age of the Water Heater
According to data from Consumer Reports, the average tank water heater lasts 10 years, and tankless water heaters have a lifespan of approximately 20 years. So, if you’re experiencing a malfunction of your water heater, it’s important to consider the age of it. If it’s nearing the end of its expected life, replacement typically makes the most sense.
Increasing Energy Bills
Your water heater accounts for up to 15 percent of your total energy bill. So, its efficiency isn’t something to just ignore. If you’re seeing your utility bill go up, it is likely that your water heater is decreasing in efficiency. This happens when it is working longer and harder to keep water temperature consistent. In other words, if your water heater is past its prime and losing efficiency, you will save in the long run by going with a replacement.
Cost of Repair
When it comes to water heater repair, you can do some simple mathematics to determine if repair is the right way to go. If the repair is more than 50 percent of what it would cost to replace, go with the replacement. If the repair cost is less than this, you will still want to consider the water heater’s age. You should also think about how many times it has broken down over the last two years. Multiple repairs signal the need for replacement.
In the Long Run
More often than not, replacement is the right strategy. Throwing money at a failing water heater will ultimately cost you more than buying a new one. Need help in making this decision or choosing a new model? Give the experts at Cool Blew a call today.