Many people know the experience of turning on the hot water only to find cold water. A trip down to the basement to check the water heater may turn up a small lake, letting you know that it has to be replaced and that it's time to check the Internet or make some calls to check on water heater prices.
Water heater prices will vary depending on which one you choose. You will have to first find out the size that you need and whether you need a gas or electric one. You will also have to decide if you would like a traditional water heater with a tank or a tankless one.
A tankless does not store hot water, it instead heats the water when it's needed. This means that they use less energy which will save you money. A tankless water heater cost is anywhere from a little over $200 up to over $1,000. Water heater prices for those with a tank are in the same price range, though there are more to choose from.
Something in the middle of the road price range should be enough for most homes. Whichever you choose, you should do your homework. You will need to know that whichever tank you choose is going to be able to make enough hot water for your home and family. If you are choosing a water heater with a tank, check your old one to be sure you are getting the correct size and also the correct height. Some are short and some tall.
There are both pros and cons for both kinds of units. The main thing is both will heat your hot water. The tankless takes up less space but is harder to install, though it is said to last longer. The heater with the tank is easy to install but uses more energy. With the prices for both water heaters being comparable, the choice on which to purchase will most likly come down to which features are most important to you and your family.