Uncategorized | 6 Min.

Should I Rent or Buy a Water Heater?

Written by Alex

Access to hot water is essential for every Canadian home, especially during the winter. Reflecting this necessity, the demand for water heating systems reached $27.9 billion in 2022 and grew to $29.2 billion in 2023.

Yet, many face the dilemma of whether to buy or rent a water heater. This decision depends on assessment of various factors such as long-term benefits, maintenance expenses and the overall costs.

In this blog, we discuss the pros and cons of rent water heater vs buying a water heater, helping you make an informed choice tailored to your specific needs and budget.

Types of Water Heaters: A Quick Insight

Right before you go to the main part, it’s extremely crucial to have a good understanding of the various kinds of water heating systems that are available in the Canadian market. Take a look at the pointers below:

Importance of Renting Water Heaters

When it comes to rent water heater, this option is considered to be extremely important and here are some reasons behind it:

Purchasing the Water Heaters

If you’re not planning on renting the water heating unit, you can simply buy one. Doing so will deliver you multiple advantages, such as:

Buying vs Renting: Cost Comparison

When you wish to compare the expenses between purchasing and rent water heater, it includes many important aspects, such as:

Factor 1: Monthly Charges

In Canada, the monthly charges for renting water heating will range between CAD20 and CAD50. This rental charge will depend heavily on the size and type of the unit you rented. During the span of 10 years, this price will become CAD2400 and CAD6000.

Factor 2: The Longevity

Water heating units will operate for 10 years to 15 years. If you lease the unit during this period, it might cost you more than purchasing one. This is particularly true when the unit doesn’t need any restorations or substitutes.

Factor 3: Upfront Expenses

When you rent the water heating system, you don’t have to pay the initial cost, even though buying the unit requires initial funding. Here is a small illustration to help you understand this properly: “The tankless water heating unit is priced between CAD1000 and CAD3000 and also comes with installation charges”.

Factor 4: Energy Efficiency

Water heating units, which are energy-efficient and completely new, can reduce utility bills and partly compensate for the high initial budget.

Factor 5: Repairs and Servicing

The cost related to unit servicing and repairs is included in the rental contract. Compared to that, homeowners in Canada who want to buy water heating systems have to pay for these expenses on their own, which will surely add up over time.

Buy or Rent Water Heater: Things to Consider When Deciding

Right before you decide to buy or rent water heater, you must take some aspects into consideration. These elements will have a tremendous influence on the decisions you make. Now, let’s find out what things you have to consider so that you can get the best option to fulfil the water heating requirements of your residence.

When you’re not certain whether to purchase or rent water heater, you should review all the aspects that can have an influence on the judgment you make.

Purchasing or Renting Water Heater: Regional Considerations

In the purchase or renting process, there are some regional considerations that play a massive part. Take a look at these pointers:


Deciding whether to purchase or rent a water heater in Canada, requires careful consideration of factors like regional specifics, long-term plans, servicing and cots. If you opt for the renting option, you will be provided with maintenance convenience and less initial expenses.
However, purchasing the water heating unit will give you complete ownership of the system and also become a lot more cost-effective over time. You must assess the local market conditions, future plans and your monetary situation.
That way, you can make the correct decision that will match perfectly with your needs. Whether you’re planning to buy or rent, it’s crucial to opt for the best water heating system for your residence to increase your monetary well-being, efficiency, and comfort.
For expert advice, consider consulting with specialists at Smile HVAC, experts in installing, repairing and servicing for all your water heating needs across Canada, we can help you make the best decision.