water heater buy or rent

[leonkaz]

Hi all,

I read some past discussions on gas water heaters, but it's still unclear to me....

I am in a brand new home and I rent a water tank - that was part of the purchase agreement.

I pay $25/month or I can buy it out for $1800 and then I am on my own.
Simplified math shows that if the heater lasts more than 6 years I am better off buying. (I disregard the cost of money over 6 years).
I understand that those things tend to have lifespan of 10-15 years (unless the quality of my tank is total #$#%).

What do you say - rent or buy?

BTW, I plan to stay in the house for long time.

[rob187jj]

i posted this awhile back, was in a similiar situation where mine broke. my option was to buy a new one or pay $17/mth for it (if im not mistaken).

look at it this way, if you're planning to stay in your house for 10-15 years, go buy one from home depot/CT/anywhere. you can get good quality 15year warranty ones for < ~$1000.

if you do go out and decide to buy one, the ones that have longer warranties usually last longer as better components are used to make them.

hope this helps!

[OldFortYork]

Hi all,

I read some past discussions on gas water heaters, but it's still unclear to me....

I am in a brand new home and I rent a water tank - that was part of the purchase agreement.

I pay $25/month or I can buy it out for $1800 and then I am on my own.
Simplified math shows that if the heater lasts more than 6 years I am better off buying. (I disregard the cost of money over 6 years).
I understand that those things tend to have lifespan of 10-15 years (unless the quality of my tank is total #$#%).

What do you say - rent or buy?

BTW, I plan to stay in the house for long time.

How big is your water tank? $25/month is a bit high considering I have a 50 gal water tank that I rent from Direct Energy for less than $15/month.

In either case, I'd buy a tank, or consider going tankless.

[leonkaz]

The tank is big, not sure - at least 50 gal.

The whole arrangement stinks - the builder saved money (and possibly got something out of it) by forcing me and others into that rental agreement.

I don't think I can go out and buy another tank, I am bound by the contract
to either rent or buy the one I have installed. :mad:

[patrob]

The tank is big, not sure - at least 50 gal.

The whole arrangement stinks - the builder saved money (and possibly got something out of it) by forcing me and others into that rental agreement.

I don't think I can go out and buy another tank, I am bound by the contract
to either rent or buy the one I have installed. :mad:

Is the agreement with Reliance? I hate these companies who force you into these agreements, I got out of one by paying a penalty & it was the best decision ever. Now we have a tankless & we love it :)

We have always owned our tanks & since you say you are planning to stay in the house for more than 6 years, then buy it out!

[Ockham]

Builders receive approximately four hundred dollars per house from Reliance or Direct Energy. The rental water tank business is a scam. Ontario home owners are better off purchasing tankless water heaters like everyone else in the world does.

[ynot]

Builders receive approximately four hundred dollars per house from Reliance or Direct Energy. The rental water tank business is a scam. Ontario home owners are better off purchasing tankless water heaters like everyone else in the world does.

That's what we did when we purchased our house; we replaced the old rental unit with a Rinnai tankless water heater and we will never go back to a tank.

[patrob]

Builders receive approximately four hundred dollars per house from Reliance or Direct Energy. The rental water tank business is a scam. Ontario home owners are better off purchasing tankless water heaters like everyone else in the world does.

Wow, go figure :rolleyes: No wonder they are forcing the agreements down our throats :mad: Because if we don't sign, they don't make the $$$.

[toky]

I have a 50 gal water tank that I rent from Direct Energy for less than $15/month.
Sorry but are you sure? I am paying over $20 a month for my 50 gal tank from Direct Energy.


That's what we did when we purchased our house; we replaced the old rental unit with a Rinnai tankless water heater and we will never go back to a tank.
ynot, care to share your experience on your Rinnai tankless water heater? Was the water heater installed where the original one was? How much you have saved on your energy bill?

[jindogae]

That's what we did when we purchased our house; we replaced the old rental unit with a Rinnai tankless water heater and we will never go back to a tank.

I recently replaced my tank with a tankless boiler when the tank sprung a leak.
I was just wondering if the tankless heat you have gives instantaneous hot water? The boiler I have takes about 30 sec or so to heat the water. I get continuous hot water unless someone else in the house starts to use it and then it takes another 10-15 sec for the boiler to increase the heat load.
I was also wondering what it costs to have the tankless heater installed.
Thanks

[Ockham]

A tankless water heater installation usually costs $3500 depending on the job.

There are ways to get hot water faster. You should discuss this situation with a good boiler contractor. Depending on where you live, I may be able to recommend a few.