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How to Calculate the Price of a Hot Water System

Is it time to upgrade your hot water system?

The thought of purchasing a new hot water system can sometimes cause your heart to skip a beat. You start stressing over how much you have to spend and think of all the unique ways to keep the price down as low as possible.

But you don’t have to prepare yourself emotionally before you read an estimate from a plumber. You can actually work out the price of a hot water system on your own so that it’s not a shock for your wallet.

So how do you figure out the right price for a hot water system? Well, grab your calculator and a tape measure, then follow the guide below to get an idea of how much you’ll need to set aside.

What’s the Size of the Household?

The first consideration is an easy one. How many people live in the house, and how much water do you use? If you’re a large family, does everyone in your home need to have a hot shower every morning and night? Does someone prefer baths? You’ll need to take a closer look at your lifestyle and how hot water fits into it.

It’s best to speak to an expert plumber who can provide you with a recommendation for the size of the hot water system that will satisfy everybody’s needs. If it’s too expensive, then you might be best to call a family meeting to discuss some cutbacks.

What Type of Hot Water System Do You Need?

You’ve got some options when it comes to deciding what type of hot water system you need. Each of them offers different advantages that are worth considering based on your usage.

Solar Hot Water Systems

If it feels like summer all year round, then a solar hot water system might benefit you. You will end up paying a lot more upfront to get it installed. However, you’ll end up making back these costs by saving money on energy bills over the life of the system. Prices can range from $3500 to $5500.

Gas Hot Water Systems

You’ve got two choices with a gas hot water system. There are instant and storage systems. Depending on the one you choose will determine how much money you’re going to have to pay. An instant system can set you back as little as $750 or as much as $2000. For a storage option, you’re looking at $800 for a 135L system and $2000 for larger tanks.

Electric Hot Water Systems

You can also get electric hot water systems in instant and storage varieties. These are the cheapest options, with a small version coming at around $500 and larger models starting at $1800. If you’re after an instant electric hot water system, then you can be looking anywhere between $650 and $1800.

What are the Delivery and Installation Costs?

After choosing the tank that you desire, you’re going to need to work out how it’s going to get to your home and how it will get installed.

The delivery cost is calculated based on the distance to your place and the size of the tank. Some instant options can be carried under the arm of a plumber. Others require a few people to bend at the knees and lift it with care.

Installation costs are a little trickier to work out as it will depend on how complex the job is. If it’s a straight swap of the system, then it might cost you under $800. But if you need additional valves or you’re changing the location of the hot water system, then the figure will start to increase. It’s also more expensive to change the energy type. For example, if you’re switching from electricity to gas, then you’re looking anywhere from $1500 to $3000 to make the required alterations.

How Much Does It Cost to Dispose of Your Old Hot Water System?

It’s unlikely that you want to keep your old hot water system when you’ve installed the new one. Unfortunately, it’s not something you can leave at the curb or throw in the bin. So, you’re going to need to get rid of it in an environmentally friendly way. You’re best to have a discussion with your plumber about disposal options. If it’s not on the estimate, then ask them if there are any extra charges for it.

Are You Entitled to Government Rebates for a Hot Water System?

To promote environmentally friendly options, the Australian government provides some incentives when purchasing new hot water systems. Solar hot water systems come with a rebate of $600 to $1200, depending on the one that you choose. Do your extra research around these benefits to help keep the costs down on your new hot water system.

Having Trouble with the Math?

The last thing you want to do when calculating the price of a hot water system is get the math wrong or forget to carry the one. There are a lot of variables to estimating the costs, which is why the best course of action is to only deal with honest and trustworthy plumbers.
All Day Plumbing has a reputation for providing honest and upfront pricing. Our plumbers don’t even pick up a tool until you understand all of the costs and receive an explanation of exactly what we’re doing. If you want a quote for a brand new hot water system, then book an appointment today to get your estimate.

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