Renovate works with reputable plumbers and other tradespeople who offer affordable and flexible financing options, so you can access hot water quickly.
For example, if you get hot water heater financing for a system that costs $3,500 at an APR of 10% over 24 months, you would pay about $162 per month. Your total cost to repay the loan would be $3,876.
If it’s time for an upgrade, it’s important to choose the right water heater for your home setup. Our top-notch contractors can help you identify the heater that suits the size of your household and your budget:
Water heaters cost between $650 and $6,500 on average but can vary greatly by location, the type of water heater you choose, and the capacity needed to heat your home.
Additional costs include installation labor, such as adding electrical wiring, running gas lines, and pulling required permits.
| Water Heater Type | Cost Estimate |
| Electric water heater | $600–$2,500 |
| Natural gas or propane water heater | $700–$3,700 |
| Tankless water heater | $1,000–$3,500 |
| Hybrid heat pump | $1,200–$3,500 |
| Solar water heater | $1,500–$6,000 |
| Water heater installation | $50–$200 per hour |
A lack of hot water could be caused by several malfunctioning parts and pieces, usually requiring professional help to fix. Here are a few common water heater problems Renovate’s qualified contractors may be able to solve for you:
A water heater is a 10- to 12-year investment, so choosing the right one for your home requires careful consideration. Our expert contractors will guide you in the right direction.
Here are a few aspects they’ll discuss with you before installing or repairing your hot water heater:
A properly sized water heater is the only way to provide your home with enough hot water and maximize efficiency. Water heater sizes range from 30 gallons to 100 gallons or more. The more people living in your home, the bigger your water heater must be to accommodate everyone. We only work with professional contractors who know how to calculate the right water capacity for your home and family.
The fuel type (how the water heater is powered) will affect not only your annual operation costs but also the unit’s size and energy efficiency. If you need to replace your water heater, it typically makes the most sense to choose a system that runs on the same energy source (e.g., replacing an older electric water heater with a newer, more energy-efficient electric heater). Our network of top-notch water heater professionals can help you pick a system that can be installed quickly and efficiently.
If you have to replace your water heater, the one upside is that you’ll probably end up with a more efficient unit. Renovate’s network of skilled contractors will reference the recently updated efficiency standards to help you select a unit that generates a return on investment and serves your needs both now and in the future.For example, models that meet or exceed industry standards for efficiency and performance will have an Energy Star certification. The higher the Energy Factor (EF), the more efficient the water heater.
The amount of labor required to install your water heater will depend on your existing setup. For example, you may need permits to install a gas line or alter plumbing and electrical systems. Propane and natural gas water heaters require direct venting. Don’t panic; our trusted, experienced plumbers and tradespeople will determine whether new electrical lines, gas supply, or ductwork need to be installed.
Water heater financing lets you repair or replace your system without the high upfront expense. Here are some of the benefits of using Renovate to secure hot water heater financing:
It’s free to use our financing request form and connect with experienced contractors who may offer flexible financing solutions. Whether you need a new hot water heater or need to make repairs to your existing system, Renovate will reference its network of pre-screened professionals and let you choose a solution that works for you.
Renovate’s contractors offer financing options through a network of financial institutions. They aim to help you find a water heater loan for your budget and project size.
With Renovate, you may get a pre-qualification offer in minutes. Submit your request using our online form, and we’ll try to connect you with contractors who offer financing. Plus, our diversified lender network unlocks more financing opportunities for homeowners with varying credit profiles.
Yes, it is possible to finance a hot water heater in several ways, including private financing options through qualified merchants. The loan terms available to you will vary by lender and loan type. In addition, some plumbing companies and water heater manufacturers may offer leasing programs, allowing you to pay smaller monthly payments until the unit is paid in full.
If you have bad credit, water heater financing may be available through private financing companies, but the interest rates and fees will be higher. It’s worth comparing lenders to determine who offers the best terms. Typically, you can pre-qualify for financing and view offers without affecting your credit (a hard credit check will be performed during the application process). Consider applying with a cosigner to improve your approval odds for hot water heater financing near you.
Most water heaters last between eight and 12 years, depending on the quality of your water and how it’s been maintained through the years. Experts typically recommend replacing your water heater if it’s more than 10 years old — especially if the unit is starting to show signs of aging. Find the age of your water heater by looking at the tank label. You can also look up online manufacturer guides using the brand name and serial number of your unit.
