Picture this: You turn on the faucet to start washing your face, and you notice that the hot water faucet is not working. You then go on to look at your hot water tank and find out that it’s not in working order.
If you’ve found yourself in this unfortunate position, you may be wondering about the hot water tank cost. We want to help you out.
Without further ado, then, it’s time to dive right in.
Reasons to Invest in Hot Water Tank Replacement
There are many benefits to replacing an outdated tank. For one, a new tank will be more efficient and will give ample hot water for all the family’s needs.
Plus, a newer tank may offer warranties, better insulation, and lower running costs. Investing in a tank replacement can give significant savings to homeowners in the long run.
Different Types of Hot Water Tanks & Costs
Water heater cost depends on the type and size, along with any added features or labor. Tankless hot water heaters, the most efficient and popular type, generally range between $400 to $1,500 for a basic model. For higher-end models, prices may reach up to $3,000.
For storage tank heaters, the cost can vary from $400 to $2,500, depending on the quality and features. The size of these tanks also affects the cost. Larger tanks are typically more expensive.
Basic electric water heaters can range in price from around $300 to $550. Gas models tend to cost between $400 to $1,000. High-capacity or energy-efficient models can cost more.
It is important to know the difference between tankless water heaters and traditional ones. This way, you can choose the one that best fits your needs. Traditional tank water heaters store a certain amount of hot water, while tankless water heaters heat the water instantly and have higher energy efficiency.
Installation & Labor Costs to Consider
You must also consider the hot water heater installation costs and labor involved. Installation usually costs about $400 to $600 for a professional to hook up a new tank. If you replace existing hookup fittings, pipes, shut-off valves, and other components, this increases labor costs.
Some suppliers also offer an installation package that includes delivery, setup, and repair of broken or old equipment at an added fee. As you can see, the cost of a new hot water tank is more than just the cost of the tank itself.
Although the cost of a new tank may be higher than the cost of repairs, added regular maintenance costs are necessary to keep it running efficiently. These costs may include regular inspections, periodic flushing, and tank replacement when necessary.
Regular maintenance can help to prolong the life and efficiency of the tank. This should be taken into consideration when budgeting for the cost of a new one.
Choose the Best Deal for a New Hot Water Tank
New hot water tanks have a wide range of costs, depending on type and size. In general, you can expect to pay between $600 and $3,000 for a new hot water tank. Before making any purchase, be sure to get quotes from qualified professionals to ensure you get the best deal!
Get your quotes today and start enjoying hot water.
Looking for other helpful home tips? You’re in the right place! Keep browsing our website!