Should You Rent Or Buy Your Water Heater?
In the past, most homeowners have chosen to rent their water heaters. However, the question of buying versus renting comes up a lot with our customers, so we thought it would be a great topic to write about. When it comes to renting or buying your water heater, both options are great, but it depends on your needs. In this blog, we review some of the key considerations to help you decide whether to rent or buy your water heater.
The Benefits of Renting Your Water Heater
Most people rent their water heaters. This option has been the norm because it’s convenient and low-maintenance. If anything goes wrong, you aren’t responsible, and the installation costs are looked after by the rental company.
Here’s a list of the benefits of renting:
- The cost of maintenance and repairs are covered in the rental fee
- Free installation
- Low monthly fees
- Good option for people living in their home for a short period of time
- Rental fees do not increase over time with Bryan’s Fuel
- You can rent a tankless water heater
The Benefits of Buying Your Water Heater
More and more people are considering this option than ever before because:
- You have the choice to buy an eco-friendly water heater, which means long-term savings on bills
- More cost-effective than renting long-term
- Ideal for homeowners planning on staying in the same house
- Provides added home value if you choose to resell
- You can also purchase a tankless heater
Tanked Or Tankless?
Whether you decide to rent or buy your water heater, you can also choose from tanked or tankless options. Here are some points of differentiation on each:
Tanked water heaters: This style of unit stores and heats water in an insulated tank. When you use hot water, the hot water exits your tank and travels to the faucet in use. Then, cold water enters the tank to be heated and reheated, when necessary. When hot water is in high demand in your household, it’s not uncommon to completely empty the tank’s supply and have to wait for it to heat a new supply of water.
Tankless water heaters do not store water. They deliver a constant supply of hot water by passing water through a heat exchanger. They are extremely efficient, as water is heated only when needed, ensuring that you’ll never run out of hot water. Tankless water heaters are compact and space-saving, which also means that they can be installed anywhere in your home. They provide endless hot water and are more energy-efficient than tanked water heaters with no standby heat loss.
The Bottom Line
The bottom line when it comes to renting or buying your water heater completely depends on your needs as a homeowner.
If you choose to rent your equipment, you should know that the total rental cost over 10 years can be higher than the cost of buying your heater, but it will include the cost of any maintenance and repairs. If you purchase your equipment, it will be up to you to pay for repairs when they are needed and your unit will also depreciate over time.
At Bryan’s Fuel, we offer our customers the flexibility to rent or purchase their water heaters. We also offer long-lasting, energy-efficient equipment for both rental or purchased water heaters, and tank or tankless options. If you’re unsure which option is best for you, contact us here and a member of our team will be happy to help you.