Water heaters, as we discussed last time, do not last forever and have an average lifespan of around 10 years. So, if your water heater is approaching the end of its lifespan, how can you determine whether it is worth fixing or replacing?
The first thing you should check is whether or not the water heater is still under warranty. If it is, see if the warranty also covers labor costs as well as replacement parts. The cost of labor can really add up depending on the type of repair, so even if the parts are covered, it may still not be worth spending the money. One part that commonly needs replacing is the sacrificial anode. This is a difficult job to do, and a mistake could void the warranty. If you have to replace this part on an old water heater, the labor costs may not be worth it.
Another thing to ask yourself is, how much money do I spend every year on repairs and maintenance to my existing water heater? If it costs you more than 10 percent of the price and installation for a new water heater, it is probably time to start looking to replace it.
When shopping for a water heater, it is not recommended that you buy the cheapest one you can find. If you want it to last, you need to go for quality. Plus, a good quality water heater will usually come with a long warranty.