4 Factors That Could Influence The Cost Of Your New Water Heater

Posted on: 11 August 2015

Are you thinking about having a new water heater installed in your home? If so, then you might be wondering how much a new water heater installation is going to cost you. Typically, homeowners can expect to spend around $1,000 for a new water heater that's professionally installed. However, there are some factors that can affect the overall price you pay--either for better or for worse. By knowing which factors will apply to your situation, you can get a better idea of whether your cost will be above, below, or right around that $1,000 mark.

Capacity

The capacity of your water heater's tank will have a major impact on the total cost, not only because more materials are necessary to create a larger tank, but because more labor will be required to haul a larger tank into a space for installation. Choosing the right size water heater is important for your home, as an undersized heater will need to work harder (and thus experience more wear and tear); be sure to speak with a professional to determine how large of a tank you need.

Type

The type of water heater you're looking to have installed can also have an influence on the total cost. If you're simply looking to replace your traditional, existing water heater with the same type of water heater, then this shouldn't impact your cost. However, if you're looking to replace it with a tankless water heater or even retrofit your home to suit a new tankless water heater, you're going to quickly be on the higher-end of pricing.

Location

Where your new water heater is going to be installed within the home is another influencing cost factor, believe it or not. That's because installation/labor costs are often charged by the hour. Therefore, if you're having your water heater installed in a nice, open space (such as a basement or large utility closet), you'll probably have a smoother and faster installation than if you were to have it installed in a confined (and more difficult-to-work-in) space.

Fuel Source

Generally, water heaters are fueled by either electricity or gas, but there are also less common options like solar power, geothermal power, and even propane. The least expensive option for you in the short-term will likely be sticking with whatever existing fuel source was used for your previous water heater, as the costs related to running new fuel lines or setting up new power sources for a water heater can be very high.

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