Water heaters account for over 17 percent of a Canadian household's energy usage. That is a significant expense in any budget. Water heaters and access to hot water are essential for any household’s comfort. However, many factors can make your water heater less efficient, like hard water and could end up costing you more over time. If you’re in the market for a new water heating option, or looking to replace your existing water heater, you may be wondering if you should rent or buy your water heater.
In this blog, we will explore the benefits of renting versus buying and how the effects of hard water can influence your decision, especially for homeowners in the Tri-Cities area and throughout Southern Ontario.
Types of Water Heaters
There are two main types of water heaters available in the market.
Tankless water heaters can provide instant hot water as needed. Tankless heaters are more energy efficient than their tank counterparts, and their smaller size means they take up less space in your home.
Hot water tanks have a reservoir tank that can store and provide large volumes of hot water. They are generally more affordable upfront but less energy efficient.
The Benefits of Renting a Water Heater
Renting your water heater has become a popular option thanks to the convenience and low maintenance of rentals. You are not liable when something goes wrong, and the rental company takes care of the installation expenses. Regardless of the type of water heater you need, renting a water heater can bring you numerous advantages including the following:
Regular Service Calls
Rental agreements include annual maintenance and inspections for your water heater to keep it functional year-round. Regular service is particularly important in regions such as Kitchener-Waterloo, Guelph, and Cambridge, where hard water can negatively affect your heater and plumbing systems. Inspections also include a safety check to prevent problems related to corrosion, the gas line or the heating element.
Parts and Labour Included
When your tankless heater or hot water tank has problems, you have access to 24/7 customer service for emergency water heater repairs. Parts and labour are also included in your rental agreement, which means you can deal with breakdowns without additional costs.
Low Monthly Payments
Renting a water heater means you won’t need a significant initial investment. Instead, you will pay monthly rental fees to use the equipment. Renting can be a great option if you are not planning to stay in the same home long term. There are also options to transfer your agreement or buyout the agreement. Finally, rentals still qualify for any current rebates or incentives that could save you even more.
The Advantages of Buying a Water Heater
If you are not thinking about moving at any time soon and plan on staying in your home for many years, buying your water heater could be more advantageous. Here are some of the benefits of buying one:
Warranty Protection
Even though you are responsible for your water heater when you buy it, most providers will offer warranty protection, which can be quite beneficial. This warranty typically covers repairs and replacements for a specified period, providing peace of mind to homeowners. However, note that regular maintenance may be required to maintain your warranty.
Smart Long-Term Investment
Buying a water heater means owning the device without monthly payments. Although it requires an initial investment, it can save you money over time, especially if well maintained. It is worth remembering that maintenance will still be required to keep your water heater performing at its best. The costs of regular service calls need to be factored into your budget.
Property Value
Another great benefit of buying a water heater is increasing your property value. Potential buyers are more likely to opt for a property in which they won’t have to deal with monthly fees to have access to hot water. Additionally, it's important to highlight that tankless water heaters are more energy-efficient, meaning they can make your property even more attractive in the market.
The Impact of Hard Water on Water Heaters
When it comes to deciding whether to rent or buy a water heater, it is fundamental to take into consideration where you live. Regions such as Kitchener-Waterloo, Guelph and Cambridge suffer with what is known as hard water. Hard water has higher rates of minerals, like calcium and magnesium, compared to soft water. These minerals can react with the metal surface or harden on the bottom of your water heater; the buildup slows water pressure and makes your water heater work harder. Hard water can create problems such as lower efficiency and reduce the lifespan of your heater.
For these reasons, it can be more beneficial for those living in regions with hard water to rent a water heater instead of owning one. The convenience and peace of mind of regular maintenance and repairs provided by your rental agreement can make all the difference.
Your Choice for Water Heaters in the Tri-Cities and Surrounding Areas
Buying versus renting a water heater can be a tough decision. To make the best choice, think about how long you plan to live in your current house and whether or not you live in an area with hard water resources. Our expert technicians at Aire One Heating & Cooling KW are ready to guide you through your options and find the right solution for your home.
Contact us today to get a quote for a new tankless water heater or hot water tank in Kitchener, Waterloo, Cambridge, Guelph, Orangeville, Stratford and surrounding areas.