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.

[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.

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 No wonder they are forcing the agreements down our throats 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.