I have a conventional gas-fired 40-gallon hot-water heater in my basement. It currently works fine, and there is no visible rust on it or pipes near it, but it turned 20 years old a few months ago.
I was thinking of having it replaced because I assume it will fail within the next few years given its age. Is this reasonable, or would I be throwing money away to replace something that still works fine?
For context: The water tank sits on top of an old hardwood floor in my unfinished basement (yes, for whatever reason someone installed hardwood flooring directly over the dirt floor in my basement, even though the space is just used for storage), and I'm 75 percent sure I will stay in my house for at least the next 5-10 years.
Best Answer
The average life of a water heater is about ten years. Newer models are a lot more energy efficient as well. Given the age of your water heater, it has more than done it's duty. You don't have to replace it, but if it's in your budget I would recommend replacing it. You don't want to get in an emergency situation. I would also consider adding a concrete pad or at the very least, a drain pan underneath your new one. That flooring situation is definitely not ideal.
Inspect your water heater:
You can find out the exact age of your water heater by looking at the serial number on the manufacturers sticker: