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My $900 Hot Water Heater Problems

by Mike

Unexpected Hot Water Heater Problems Tear Into My Budget

Things have been going pretty smoothly for us lately.  We used the proceeds from my father-in-law’s house to pay off all of our debt and still had enough to open up an ING savings account to store the money we’ll use for the down payment on our next house.  My blogging income has been steadily increasing and I have a bunch of other domains registered with plans for niche sites in the back of my mind.  We even opened a small (for now) account at Sharebuilder to start building a portfolio of dividend paying stocks.

But of course life has a way of throwing you a curveball every now and then.  And so the other night my two girls were playing in our partially finished basement when I heard a big crash followed by little footsteps charging up the stairs.  One of them had tossed a Barbie doll in the air and  hit a light bulb which shattered.

As I cleaned up the tiny shards of glass, I opened the door to the furnace room to see if any glass had slid under the door.  That’s when I saw the puddle of water!

It hadn’t been raining and neither the kitchen nor bathroom was above that spot, so I immediately suspected I had some hot water heater problems.  The water heater was already installed when we bought our house in 2003 and I couldn’t find a date on it, but I knew it had to be pretty old.

We had a plumber come in and install a new water heater the next day for $900.  We had the money in our savings so it’s not a back-breaking expense, but it bugs me because there are so many things I’d rather spend that money on!  But on the bright side, a brand new water heater will be another selling point when we put the house on the market.

PS – the plumber found the sticker and it turns out it was installed in 1987!  Twenty-four years for a hot water heater is insane!

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{ 5 comments… read them below or add one }

UltimateSmartMoney

$900 for a water heater seems little on the higher end. You must have installed a high end water heater and maybe you have a gas water heater. I installed decent quality 50 gallon gas water heater for $650 with installation fee. It is hard to be an ultimate smart spender of money when life throws you a curve ball like that. You shared a good reason why it is a must to have that extra saving just in case something unexpected occurs…
UltimateSmartMoney´s last [type] ..College Education Equals Big Student Loan

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Evan

That’s frustrating! but you had a plan for it which is fantastic and inspiring. How’s the dividend portfolio going?
Evan´s last [type] ..The Benefits of Life Insurance to Young Families

Reply

Mike

Dividend portfolio is still pretty small since I’m only putting in about $100 month for now. But I’m trying to think like the tortoise and just continue buying for the long term. Just focused on building assets and income streams. You made any updates lately?

Reply

Evan

Latest one I wrote was:

http://www.myjourneytomillions.com/articles/october-dividend-investment-portfolio-aristocrat-update/

Kinda reminds me I guess I have never really gone into the returns on it have I?
Evan´s last [type] ..The Benefits of Life Insurance to Young Families

Reply

Mike

That would make a great post. I’d be interested in hearing more about how you’re doing…I still have a lot to learn.

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