Rent or Buy

Water Heater: Rental vs. Purchase

Pros and Cons Described by an Established Woodbridge Plumber 

The decision about renting or buying water heaters will depend on certain factors. It is important for you to consider your budget as well as lifestyle needs in order to determine which option is the best for you. Both have their own specific advantages and disadvantages. After weighing the pros and cons, if you decide to purchase, you must consider calling an experienced Woodbridge plumbing company for your water heater installation.

Renting vs. Buying Water Heaters

The reasons behind the decision to rent or buy water heaters will vary for different homeowners. However, if water heater installation is on the cards for your home, make sure that you have a professional Woodbridge plumber install it for you. Otherwise this can lead to expensive repairs and maintenance if it isn’t done right from the beginning.

Before you make up your mind, understand the differences in both options:

Pros of Buying

  • More cost-effective in the long run; ideal if you intend to live in your house for a long time
  • Most warranties cover up to 15 years, while some manufacturers even offer lifetime warranties

Cons of Buying

  • Replacement when your water heater breaks down can be costly
  • Repairs after the limited-time warranty is over will be shouldered by you, and these can be expensive
  • Regular maintenance is required to avoid frequent repairs 

Pros of Renting

  • Renting water heaters is more cost-effective for as you only pay a monthly rental fee versus a significant sum to purchase
  • There is no need to pay for maintenance and repairs if you rent a water heater, as your rental provider will take care of that
  • Once you can afford it, you can utilize a rent-to-own plan for the rental water heater

Cons of Renting

  • You may be paying for an old water heater that has been previously used
  • The longer you rent, the more expensive it gets
  • You may not have a new model that is energy-efficient and saves water, so your utility costs could increase when you rent an older water heater 

Is a Rental or New Water Heater Installation the Right Choice?

Before you make a decision, the final choice should be determined by how long you plan on staying in your home. If you intend to move in a few years, the money saved from renting water heaters could be used towards buying a new home. If you are looking for long-term savings on costs as well as energy bills, it would be ideal to buy a water heater. Talk to a professional Woodbridge plumber to help you determine water usage in your home and make an informed choice.

Contact Aaron & Son Plumbing and Drain Services at a location near you. You can also call us at 905-731-3111 in York Region, 905-717-2277 in Aurora-Newmarket, and 416-409-5511 in Toronto for all your plumbing and water heater installation needs.