One of the most daunting aspects of replacing the water heater in your Brunswick, ME, home is likely the cost. Unfortunately, fear of the unknown often causes homeowners to delay these all-important projects. Rather than waiting until your current water heater ruptures or fails, it’s best to explore your options and prepare your budget now. To help you get started, the following is everything you need to know about the average cost of residential water heaters.
The National Average and What It Means for You
Throughout the nation, the average cost of a new water heater ranges between $1,200 and $1,400 with slight differences in pricing seen in colder regions. You can certainly find basic, budget-friendly models that are priced at just over $500. However, for homeowners who are seeking optimum levels of efficiency and capabilities like unlimited hot water on demand, there are many cutting-edge models that sell for $3,000 or more.
Standard Storage-Based Water Heaters
For whole-house service, standard storage-based water heaters have the lowest price. Many popular models cost between $600 and $800, and they come with average lifespans of eight to 12 years. However, these prices are only available for storage-based water heaters that have their own energy source. Indirect water heaters or storage-based water heaters that draw their heat from boilers typically cost between $1,200 and $1,500.
Tankless Water Heaters
Tankless water heaters are slightly more costly than their alternatives, but they offer nearly unlimited hot water supply and impressive energy savings. While the average price of electric tankless water heaters ranges between $800 and $1,500, gas-powered and propane-powered options typically cost between $500 and $2,000. Oil-fired tankless water heaters have the highest prices of all, with average costs ranging between $1,000 and $3,000. It’s also important to note that larger homes and larger households with higher hot water demand may need to have at least two tankless water heaters put in.
Contact Dog House Today
Since 2010, we’ve been proudly serving Brunswick and the surrounding areas. We offer heating, cooling, and plumbing services. Our clients can also turn to us for advanced indoor air quality solutions, duct cleaning, and water heaters. To schedule an appointment, call Dog House today.