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.
How long a water heater lasts depends on how well it is maintained, the water quality in your area, proper installation, and amount of use. When you buy a water heater, it's always good to look at all of the information that comes with it. That way, you will know what to expect. If you install your new water heater properly and maintain it, you can expect great results. For example, if your less expensive water heater is guaranteed to last for six years, with proper maintenance; it will probably last for eight. It's always better to buy a better water heater. This is because it works twenty four hours everyday for the whole year! So when you buy a water heater that is guaranteed to last for ten years it will probably last for twelve. Considering that the average family has a forty gallon water tank and uses quite a bit of hot water, it's worth it to get the better hot water tank and have a plumber install it.