The answer to that question depends on several factors like the age and condition of your water heater, its related components and your home repair budget.
However, if your conventional storage tank hot water heater is nearing 10-15 years old, it’s likely you need a replacement. A newer model water heater will be much more energy-efficient (up to 25%) and can save you hundreds of dollars in utility costs over its lifetime. However, if your water heater has only been in use for a few years, it may be best to diagnose the problem and invest in repairs.
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