by Alex Everest. A contract for deed (aka land contract) is a method of selling a property in which the seller finances some portion of the purchase price. The buyer typically provides a down payment and makes installment payments directly to the seller for an agreed period of time. The length of a contract for deed varies but a 2-5 year period is most common, after which a âballoon paymentâ for the remainder of the balance is due.
While standard units with tanks that hold and heat large amounts of water last approximately 13 years, tankless or on-demand heaters -- either gas or electrically heated -- can last up to 20 years.
Hot Water Heater. You should be able to get about seven to 10 years out of a hot water heater. To get the most use, drain about a quarter of water from the tank every three months. This little trick helps remove sediment from the tank, which forms from minerals in the water.