If you’re in need of a new water heater installation, but you don’t know how much it’s going to cost, you’re not alone. It’s an often underestimated cost for many homeowners and landlords. But you don’t have a choice: if you don’t have a water heater in your home or it’s not working properly, you’ll need to get a new one.
A new water heater could be expensive. Not to mention, there are different types of water heaters, primarily traditional water heaters (with the large tank in the basement) and tankless water heaters (a newer innovation). So what can you do?
How Do I Budget For Water Heater Installation?
The key to understand is that you’ll need to get an estimate of costs directly from the contractors you hire. If you contact us today, we’ll give you a full quote and make sure you can understand what it’s going to cost you.
However, if you want a general idea of what water heater installation is going to cost, you’ll need to understand the factors that affect it.
What Affects The Costs of Water Heater Installation?
The most important factor in the cost of installing a water heater will be the type: tankless vs. traditional. A tankless water heater is much more expensive than the traditional tank storage heater (up to 3 times as much!). There are reasons to choose a tankless model though, including energy efficiency and access to hot water at all times.
If you’re going with a traditional tank storage water heater, the size of the tank will also matter greatly. The tank size you want will depend on the size of your property. It costs much more to install a water heater for a 6,000 sq ft home than for a 3,000 sq ft home, and if you have multifamily units, it’s going to be even more expensive. This is why it’s important to contact a contractor because they’ll tell you what tank size you’re likely to need.
Another factor is the cost of the contractor. Different companies charge different rates, and you could spend your time shopping around for the best rate. However, rates are generally commensurate on experience.
The last big factor is going to be the model of the tank. Not all brands of water heater tank, or models, are the same, and choosing one rated higher in efficiency and durability is likely to cost more.
How Do I Lower The Costs?
If you’re looking to lower the costs, make sure that you consider the long term costs. You don’t want to have to do another water heater installation very soon after because the contractor you chose to put in a unit that was not good for your home!
You also don’t want to have a tank that’s too large or too small for your home. A small tank will work harder to provide enough water, costing you more in the long run. A large tank will be more than you need, making installation costs higher.
Make sure you choose the right company for the job, too. A good company will do a full examination of your plumbing and your home to determine what you need, lowering costs overall.