Water Heater Costs Are Rising | Should You Get One Now?

water heater costs

If you’ve been thinking about getting a new water heater lately, then this is something you shouldn’t put off for very long. Water heater costs are rising, and it would seem they’re going to continue doing so.

water heater costs

Why Water Heater Costs Are Rising

The costs involved with water heaters are going up for several reasons:

  • Higher Material Costs: A growing global economy means increased demand for goods and products. The costs of steel, in particular, are rising. Booming middle-class populations in Asian markets create a new appetite for goods that result in tighter supplies for Western economies.
  • Increasing Transportation Costs: The global pandemic has impacted supply chains around the world. The time involved with moving commodities and supplies from natural sources through production facilities and into stores and homes is longer than ever. More time in transit means more expenses.
  • New Home Construction: More homes means more demand for all plumbing products. Every new home that gets built, not just domestically but around the world, is another potential water heater that needs installation.

Why They’ll Continue Climbing

water heater costs

The rising tide of costs with many water heaters isn’t anticipated to slow down in the near future. Disruptions to global transit of goods will keep happening with pandemic variants spiking in random locations, resulting in localized lockdowns. The pandemic also results in acute labor shortages at times; when these happen in factories, mines, or shipyards, supply chain disruptions are inevitable.

How to Know When You Need a New Water Heater

A plumbing professional can advise you best about whether you need a new water heater or not. Having said that, there are some telltale signs it might be time to replace yours:

  1. Age: The average hot water heater runs from five up to 10 years. If yours is a decade or more in age and has any issues, then it’s time to replace it before it makes you do it.
  2. Banging Noises: Loud noises that come out of your water heater might mean sediment accumulation is working your system particularly hard.
  3. Difference in Taste or Smell: You’re probably not in the habit of drinking shower water, but sometimes you wind up tasting some of it anyway. If the taste is off, or you notice a smell, then you might be noticing the mineral or metallic indications of serious sediment infiltration in your home’s hot water heater.
  4. Not as Much Hot Water: You might remember a time when everyone in your home could get a hot shower each morning. Now, if it’s only one or two before things get cold, then you might have components that are degrading or deteriorating. Sediment calcification can also eat up space inside the tank so less hot water is waiting for you.
  5. Puddles: If you start seeing small puddles under your home’s water heater, then you might have a small leak. That’s a dire warning sign of a potential indoor flood.
  6. Rusty Water: You might start noticing rust in your bathwater. There might also be particles you need to pick off of dinner plates. When the internal components of your water heater start rusting, the particles end up everywhere.
  7. Water Not as Hot: Did you used to have hot water that was nearly scalding that is now just lukewarm? Critical internal components might not be as effective as they used to be.

Key Takeaways

As a homeowner, you need to know that:

  • Water heater costs are rising due to supply issues and new regulations.
  • Costs aren’t coming down or tapering off anytime soon.
  • If your water heater is close to needing replacement, it’s cheaper to do it sooner than later.

Contact a plumbing professional if you’re not sure what your needs and options are.

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