Should You Rent or Buy Your Water Heater in Ontario?

When it’s time to replace your water heater, most Ontario homeowners face a big decision: rent or buy? Both options come with benefits, but the right choice depends on your budget, how long you plan to stay in your home, and how much flexibility you want with payments. 

At Go Lime, we make the decision easier with Go Flex, our flexible financing option that lets you enjoy the benefits of ownership without the heavy upfront costs. 

Renting a Water Heater 

For decades, renting has been the “default” option in Ontario. Big utility companies have trained homeowners to sign long-term rental contracts because it lowers upfront costs. 

Pros of Renting: 

• Low monthly payments 
• Installation usually included 
• Repairs and service covered under contract 

Cons of Renting: 

• You never own the unit, even after paying for years 
• Higher lifetime cost than purchasing 
• Locked into contracts that are hard to break 

In many cases, homeowners end up paying 3–4 times the retail value of the water heater over the course of their rental agreement. 

Buying a Water Heater 

Owning your water heater gives you more freedom and long-term savings. 

Pros of Buying: 

• You own the unit outright after purchase 
• Lower lifetime cost compared to renting 
• Freedom to choose your own service provider 

Cons of Buying: 

• Higher upfront cost  
• You’re responsible for repairs unless covered by warranty 
• Unexpected breakdowns can mean unexpected bills 

How Go Flex Makes Upgrading Simple and Stress-Free

What if you could combine the affordability of renting with the long-term value of owning? That’s exactly what Go Lime’s Go Flex financing plan delivers. 

Here’s how it works: 

• Split Every Payment 50/50 → Half goes toward your product cost (ownership), half goes toward service coverage (repairs, maintenance, and support). 
• No large upfront payment → Start with low monthly payments. 
• Service included → If your water heater ever breaks down, our licensed pros are just a call away. 
• Path to ownership → Unlike rental contracts, every Go Flex payment builds equity in your equipment. 
• With Go Flex, you’re never “just renting” — you’re investing in your own water heater while keeping peace of mind with full service coverage. 

Renting vs. Buying vs. Go Flex 

What’s the Right Choice for You? 

• Moving soon? Renting could be convenient, but you’ll spend more in the end. 
• Comfortable with upfront costs? Buying is cheapest long-term, but you’re on the hook for repairs. 
• Want the benefits of both? Go Flex gives you flexible payments, included service, and full ownership. 

Why Choose Go Lime for Your Water Heater? 

When it comes to hot water, you don’t want to wait or worry. That’s why homeowners trust Go Lime: 

• Fast installs when you need them most — same-day or next-day service across Ontario. 
• Trusted experts — every job is handled by licensed and insured HVAC pros. 
• No surprises — upfront, transparent pricing with zero hidden fees. 
• Choice that fits your home — whether you prefer a tank or tankless water heater. 
• Extra peace of mind — add Go Protect for extended coverage and worry-free ownership. 

Renting means endless payments. Buying means a big upfront cost and no service. With Go Flex, you get the best of both — affordable monthly payments, full service coverage, and ownership of your water heater. 

Ready for reliable hot water without the stress? 

With Go Flex, every payment works for you — half goes toward owning your water heater, and half keeps you covered for service and repairs. No endless renting, no big upfront bill. See how it works, calculate your savings, and make the switch today.