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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.

When replacing an old unit, you might want to switch from a gas water heater to an electric water heater or vice versa. To do this, you will likely need to add infrastructure to the area. For example, you likely don’t have a gas line that served your old electric water heater. You’d have to call a plumber to put in a new gas line. If you’re replacing a gas unit with an electric one, the plumber will need to safely cap the old gas line. You will then need an electrician to add wiring for the new electric unit.

While heat pump water heaters are more expensive than gas-powered water heaters, the ROI is higher for heat pump units. Not only are heat pump water heaters more energy efficient, meaning immediate savings on your energy bill, but they also last longer than traditional gas versions, meaning you won't have to buy them as often.

A water heater is one of the heaviest hitters in your home, and it needs as much power as possible to help it run efficiently and effectively.

Your water heater should be on its own dedicated circuit breaker, with no other power sources running to it. This is required to meet the National Electric Code–and to ensure it runs as efficiently as possible.