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Water heaters rent vs. Buying

OzziOzzi Centurion
Hi all!

This is all new to me, but im curious what yall do for your water heaters? Rent or buy?

Im renting right now , but im tempted to just go and buy one. My HVAC contractor is willing to give me a deal on one $650 installed.

Im renting one for about $30/ month plus taxes. Ive been humming and haughing over this for a bit now, and wondered wjat some.of your opinions are.

Reliance quoted me 876 to buy the one in my house now LOL. Its a 6 year old unit. Otherwise i just rip it out and give it back to them for $40.

Comments

  • Here in NB it's cheaper to rent, I had an issue with my tank last summer and NB Power replaced it on their cost. Best part is the new one has much better installation compared to the old one.

  • JuxtaposeJuxtapose Centurion

    I'm with Reliance as well @Ozzi, and I rent. My unit was brand new with the house and it's one of those high efficiency ones so it's a little pricier. Roughly $50.00 a month to rent, but as @RumGeoff mentioned, if something goes wrong with the unit there's no repair/replacement cost to me at all.

    From what my father told me half a decade ago, water heater rental tends to be the most common option. The furnace and AC you typically buy.

  • @Ozzi it's better to just buy one. You'll be surprised at what you can find at your local Rona / Home Depot / Lowes . I recently replaced mine and was able to score a 50 gallon one for $125 due to it being the last one in stock. Regularly this particular one retails for $799. I always see clearance ones going for around $300 as well. In the long run it's way better to just buy it outright.

    JuxtaposeEchoGolfSierra
  • JuxtaposeJuxtapose Centurion

    @SwaunyJones said:
    @Ozzi it's better to just buy one. You'll be surprised at what you can find at your local Rona / Home Depot / Lowes . I recently replaced mine and was able to score a 50 gallon one for $125 due to it being the last one in stock. Regularly this particular one retails for $799. I always see clearance ones going for around $300 as well. In the long run it's way better to just buy it outright.

    That's good to know, @SwaunyJones. Who did the install?

  • I agree it's better to buy. At $30 + taxes a month is over $360 a year. Considering the average life span for a water heater is 10 years, that's over $3600.

    EchoGolfSierra
  • buy it... no question. you can buy one with a 10 year warranty for $700 at most big box stores...and they have installers. Watch for sales.... never leave yourself in a position to have to replace on a tight timeline.

  • OzziOzzi Centurion

    Do you know how much it costs for a plumber to do the install?

  • ours was gas, and that can make a difference. it was less than $120 I think it was under $100. I remember thinking it was very reasonable

  • @Ozzi The install is $200-$300. If you currently have a rental see if you can buy them out. When I did that it cost me $26 to buy them out and the Water Heater lasted another 4 years before I needed to replace it.

  • If your handy you could install by yourself and save. Here in Calgary you can pay as much as $500-$600 or more for install.

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