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It’s important to find the type of water heater that fits your needs and budget. Depending on the type of water heater, size, brand, and the type of energy you use to heat the water, costs range from a few hundred dollars to several thousand. Some of the most common types of water heaters include:

• Electric: $600–3,500

• Gas: $700–$2,700

• Propane: $700–$2,500

• High efficiency: $1,500–$3,000

• Indirect: $1,200–$3,500

• Hybrid heat pump: $1,200–$3,500

Tankless water heaters heat water as it passes through the unit instead of storing heated water in the tank. Their ability to produce hot water on an as-needed basis makes them more efficient. However, they are generally more expensive than traditional units. Is a tankless water heater worth it? Most homeowners will save money with a tankless unit in the long run by using less energy.

Several signs indicate your water heater may be failing or in need of replacement. Key indicators include:

• Age: A water heater older than ten years is approaching the end of its typical lifespan.

• Water Quality: If you notice rusty or discolored water from your hot water faucets, or a foul odor similar to rotten eggs or sulfur, it can signal internal corrosion.

• Unusual Noises: Banging, rumbling, or popping sounds from the tank often mean sediment has built up, causing the unit to overheat.

• Leaks: Any water pooling around the base of the tank or visible leaks are clear signs of failure.

• Performance Issues: A decline in performance, such as water not getting hot enough, taking longer to heat up, low water pressure, or decreased efficiency, suggests the unit is struggling.

• Visible Damage: Obvious rust and corrosion on the exterior of the tank can indicate a more serious internal problem.

While these signs often point to replacement, some issues may be fixable. It's best to consult a professional plumber to diagnose the problem before investing in a new unit.

Any item that can hold on to moisture and encourage mold growth should be discarded and replaced following water damage. Upholstered items, such as armchairs and couches, and soft items, such as mattresses, usually must be thrown away once they've taken on a lot of water. Soft furniture is difficult to dry out, creating an inviting environment for mold.

You may also need to replace hardwood furniture following water damage if you're unable to fully dry it out. If you have appliances and electronics that have been fully submerged in water, particularly sewage, you'll need to replace those, too.