Best 5 Considerations to Help You Determine Hot Water Heater Cost

Are you considering replacing your hot water heater in your Austin, Texas home and you’re not sure what costs to expect? There are 5 significant factors to consider when deciding on hot water heater costs. These include size, fuel type, efficiency rating, accessories, and labor. The cost of a new water heater will vary depending on these factors, so it is beneficial to understand each one before you make a decision.

Size

The size of the hot water heater you need depends on the number of people living in your household and how much hot water they consume. Generally speaking, larger households will need a bigger hot water heater. For instance, a family of four or more will require a tank that is at least 50 gallons. A 50-gallon hot water heater will typically cost about $500 to $1,000, plus installation expenses.

Fuel Type

The type of fuel you use to power your hot water heater will affect its cost. Electric water heaters are generally cheaper to purchase upfront than gas-powered models. They also tend to be more efficient and will cost you less in the long run. A 40-gallon electric water heater may typically cost anywhere from $350 to $500. On the other hand, a 40-gallon gas water heater can range from $600 to $1,200.

Efficiency Rating

The efficiency rating of a hot water heater also plays a major role in the cost. A more efficient model generally costs more upfront but may end up paying for itself through energy savings over time. A tankless water heater can cost anywhere from $800 to $2,500, depending on the efficiency rating.

Accessories

The cost of a hot water heater can also be impacted by any additional accessories needed. If you are purchasing an electric water heater, you may need to factor in the cost of an expansion tank to help control pressure. An expansion tank typically costs around $150 to $200.

Labor

Finally, labor expenses will play a role in the overall cost of a hot water heater. If you’re having the water heater installed by a professional, plan to budget for the cost of labor. Labor costs typically range from $150 to $300 depending on the complexity of the job.

When you’re looking to replace your hot water heater, understanding these 5 factors can help you to make an informed decision. Depending on the size, fuel type, efficiency rating, and any additional accessories, the cost of a hot water heater can vary significantly. It is important to weigh your options carefully to ensure you select the best option for your budget and needs.

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