Honey I Shrunk the Electric Bill

Ah the hot water heater.

Man’s best friend, and a landlord’s worst enemy. It seems like you will always hear stories from renters and landlords alike that say, “the hot water is out again”. It’s like a right of passage for both, usually when you need to wash clothes for work, or when someone has returned from a weeklong ice fishing trip and has to work in a few hours (I don’t know that this is an actual scenario by the way).

Patching the problem can turn into a nuisance for both parties and today with the energy efficient models on the market there is no sense in creating a midnight phone call for you or your property manager by keeping an older less efficient unit. Energy.gov is the Department of Energy’s website and it contains a plethora of valuable information on ways to make your home or rental unit more efficient. I have to include a link to this infographic they came up because it is just an astonishing amount of information!

http://energy.gov/articles/new-infographic-and-projects-keep-your-energy-bills-out-hot-water

Take your time and actually read through this thing because it is great. Don’t want to read it all and need the Cliff notes:

1. There are tax credits out there for the installation of more energy efficient models!

2. Water heating is the second largest expense in your home.

3. Make sure to compare fuel costs if you have the option to make the most cost effective decision for you.

4. Make sure to look at all applicable costs involved including installation and maintenance.

5. Make the right buy for your purposes. How long are you going to hold a particular property for? 20 years? OK great go big and reap the rewards. 20 months? That’s a different story.

I love to learn, can’t get enough of it in fact. I love to pass it on even more. Make sure whatever purchases you are making are well thought out and that you understand you time horizon and end game when upgrading appliances and features, especially in a rental unit!

Huge amounts of credit to the author Sarah Gerrity for a beautiful Infographic!

Coming soon: Breaking down some of the best hot water heaters on the market.