ricoboxing Posted February 1, 2007 Report Posted February 1, 2007 The hot water tank in my house is 20 years old and I think it's time to be replaced. It was bought by the previous owner, so would it be a better deal to buy a new one and have it installed, or rent one from Direct Energy for $10-$12 a month? It's a 40gallon tank, and I don't plan on moving in the near future (not within the next 10 years) I'm sure some of you are experts in this area.
Garyv Posted February 1, 2007 Report Posted February 1, 2007 (edited) If you going to stay living in your current house then buy it. There easy to install and you will save lots of dollars over the life of the heater. Heck Cdn tire sells them ( electric for approx $279.00 or less ) Do yourself a favour and spend a little extra. Purchase a drip pan you place beneath them and run a hose from it to your sewer or sump. We changed years ago when I called because ours was leaking and they said the fastest they could be out was 4 to 5 days...yeah right. In 2 hours we had a new one purchased and installed. Edited February 1, 2007 by Garyv
steve_paul Posted February 1, 2007 Report Posted February 1, 2007 Do you know if you have a chimney liner in your chimney? If you don't that will have to be installed as well when you change the water heater to bring it up to todays standards. That will add about 300 - 500 to the bill no matter which way you choose. Phone around and get a couple prices and see if it is worthwhile to own it. Not alot happening right now so you may be able to get a good deal from someone looking to keep their guys busy for a morning. Also, look at buying your own at home depot / CT / Home Hardware and ask a couple companies what they would charge to install it for you. Right now, you can buy 40gal gas heaters at Home Hardware here for less than I pay for them from my supplier. Not alot can go wrong with them so owning it does make sense - figure out the total install cost and divide by your monthly payment to see if it is a good deal. You should get 10 - 15 years out of it and the after about 6 years what you save on no rental payments puts you ahead. Just my .02
sirfish Posted February 1, 2007 Report Posted February 1, 2007 You should buy your next water heater. Those that rent are being ripped off ,but are so used to it on thier gas bills they just se it as normal. I switched 6 yrs ago at a cost of less than $300 for a 40 gal from Sears so at a cost about $14 a month rental ( just an estimate) if your heater lasts 3 yrs its paid for . So that heater in your house has been paid for at least 6 times. Also if and when your new heater decides to let go you can run out to Home depot within the hour and get a replacement and not have to wait for the gas company to come out ,whenever that may be. I think people are looking at the initial outlay of cash for the purchase and not adding up the savings down the road. So Buy ,by all means , but, don't buy the cheapest, you get what you pay for.
Gerritt Posted February 1, 2007 Report Posted February 1, 2007 Do you know if you have a chimney liner in your chimney? If you don't that will have to be installed as well when you change the water heater to bring it up to todays standards. That will add about 300 - 500 to the bill no matter which way you choose. Phone around and get a couple prices and see if it is worthwhile to own it. Not alot happening right now so you may be able to get a good deal from someone looking to keep their guys busy for a morning. Also, look at buying your own at home depot / CT / Home Hardware and ask a couple companies what they would charge to install it for you. Right now, you can buy 40gal gas heaters at Home Hardware here for less than I pay for them from my supplier. Not alot can go wrong with them so owning it does make sense - figure out the total install cost and divide by your monthly payment to see if it is a good deal. You should get 10 - 15 years out of it and the after about 6 years what you save on no rental payments puts you ahead. Just my .02 Steve_paul is definatly correct and if your current unit is 20 years old.. chances are you dont have a liner... There is another option for you though... a power vent out the side of the house. Gerritt.
Daplumma Posted February 1, 2007 Report Posted February 1, 2007 They dont rent water heaters here so I dont know how the economics would work out.The power vent heaters are great and will save you some money.If you are handy you can install it yourself.Make sure you read the installation instructions though.You can only have a certain length of pipe and only so many bends in it.Good luck.If you have any questions post them here or PM aplumma or myself. Joe
Roy Posted February 2, 2007 Report Posted February 2, 2007 Sorry, there's something I don't understand here. What's the chimney liner got to do with a water heater? Thanks.
Garyv Posted February 2, 2007 Report Posted February 2, 2007 (edited) Sorry, there's something I don't understand here. What's the chimney liner got to do with a water heater? Thanks. I like you are most likely used to electric water heaters. Gas have to exhaust like a gas furnace or fireplace. Living rural like I do, with no gas line available, electric or propane is our only two choices, and propane is not cheap anymore. Edited February 2, 2007 by Garyv
Roy Posted February 2, 2007 Report Posted February 2, 2007 Gotcha, Gary. Thanks. I assumed that this was an electric heater.
Nanook Posted February 2, 2007 Report Posted February 2, 2007 Had me guessing too Roy Lol!!! I checked out Home Depot last year for a 40Gall tank,Code says you now have to have a Temperature control valve[so ya cant make it too hot?} $249 for the tank+ this new valve? +Traveling expense to inspect, then come back and do the job + instalation + $980. yeah right ! Still got the old tank!! I would still buy my own............but not at those prices
Gerritt Posted February 2, 2007 Report Posted February 2, 2007 Had me guessing too Roy Lol!!!I checked out Home Depot last year for a 40Gall tank,Code says you now have to have a Temperature control valve[so ya cant make it too hot?} $249 for the tank+ this new valve? +Traveling expense to inspect, then come back and do the job + instalation + $980. yeah right ! Still got the old tank!! I would still buy my own............but not at those prices I wouldnt have Home Depot install a Dog House for me... they are subs and Depot gets a cut... PS... if anyone does use depot be sure they are ticketed... nanook I dont know where abouts your located but if you are in the golden horseshoe let me know and I will put you in touch with the guy the company I subbed off of uses... and yes he is more then qualified. Gerritt.
Rattletrap2 Posted February 2, 2007 Report Posted February 2, 2007 At $12.00 per month rental, the tank is paid for in less than 3 years. I replaced mine in Aug. 2003. I already had a "B" vent chimney and installed it myself. I also found that buying it from Home Depot was easier and cheaper than through the wholesalers we deal with! When we first started out, the rental rate was $4.00 per month. The gas utilities tried a scam a number of years back where if the tank was within a certain number of years from installed date, they charged you a pro rated fee to remove it. That was fought and they soon had to give in on that one. I think if the tank is at least 10 or 15 years old, all you have to do is call them and they come get the old one for free. Remember, if you yank it out yourself, it is still their property. make sure they are the ones to come get it. If you toss it out on the boulevard and some scrap guy picks it up, you could be on the hook for it. Another thing to consider...the old one could be a whole lot heavier than the new one if it is full of scale! Just drain the water from it and call them to come get it out of the basement! You should always make a habit of draining a little water off the drain port every year (or more often) to remove any sediment buid-up. This sediment or loose scale can insulate teh tank from the burner and cause a decrease in efficiency and extend recovery times.
Tdel Posted February 2, 2007 Report Posted February 2, 2007 A friend of mine is going through the process of replacing his gas water heater and furnace at this time. He phoned the gas company and told them he was going to use an electric water heater because the cost of replacing his chimney to put in a new gas water heater was too high. He was told they would pick up the gas water heater for $150 or he could deliver it to them at no cost. He lives in Midland so it would cost him $150 for them to come from Barrie and pick it up. What a rip off. The gas water heater he has is 20 years old. Tom
ch312 Posted February 2, 2007 Report Posted February 2, 2007 i just bought a house that has a new natural gas water heater and high efficency furnace. how much would i be looking at per month for each? the house is about 950sq/ft and is going to have all brand new insulation. i asked the seller but he hasnt had them long enough to get billed for them yet....
OhioFisherman Posted February 2, 2007 Report Posted February 2, 2007 (edited) My house is all electric, I got my new one this fall thru the power company, the old one lasted 16 years. http://www.lmre.org/waterheaters.asp don`t know if your power companies have programs like this. Edited February 2, 2007 by OhioFisherman
ricoboxing Posted February 2, 2007 Author Report Posted February 2, 2007 thanks guys. i guess im gonna buy one. anyone know someone around oshawa who won't try to rip me off?
steve_paul Posted February 2, 2007 Report Posted February 2, 2007 thanks guys. i guess im gonna buy one. anyone know someone around oshawa who won't try to rip me off? rico - I forgot to ask - are you getting a gas or electric water heater?? If you are going with gas, I can get you a couple of names in the Oshawa area for you to contact. Roy - the liner is only if you have a natural gas or propane heater going up a chimney (conventional vent). Like Gerritt said, there are power vent heaters available that go out the side of the house but you then would still need a liner for the furnace if it is going up the chimney.
steve_paul Posted February 2, 2007 Report Posted February 2, 2007 Check you PM's rico - I sent you some cost info on them so you know if you are getting buggered or not I can send you a couple of contractors in your area who area are reputable later from the office if you are interested
steve_paul Posted February 2, 2007 Report Posted February 2, 2007 ricoboxing - here is a link to some ClimateCARE contractors in your area: http://www.climatecare.com/03_find_00.asp#02 also, call around to a few heating contractors and plumbing shops - with business slow this time of year, you should be able to find the right price (i tried to pm you this but kept getting an error message - sorry for the spam link) Good luck with it and let us know what it ends up costing.
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