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. Expected life: 10 years for gas or electric; 20 years for tankless. Total cost : $548 to $915 for energy-efficient model; $739 to $1,240 for tankless; $2,658 to $3,443 for heat-pump water heater.It's time if: The unit is ten years old or more, leaks around the base, or works erratically.ot Water Heater. Expected life: 10 years for gas or electric; 20 years for tankless. Total cost : $548 to $915 for energy-efficient model; $739 to $1,240 for tankless; $2,658 to $3,443 for heat-pump water heater.