The question is open ended , my friend, But I will share what I feel is worth looking into, First of all are we talking about a Gas heater? or Electric?
Gas are pretty much all the same, due to State and federal regulations, From what I have found out checking on them.
Electric on the other hand are like any other electric appliance, some are more cost effective to operate than others. Just like the A/c unit on your home.
A/c and the Hot water heater are two appliances that use most of the power your paying for at the end of every month, so it pays to shop for the better power use rating.
We do allot of bathroom remodels and the 1 question that always comes up is , how can I get hot water to my shower faster?, or more pressure, the answer to both of these questions is simple, Install a pump that will help to move the water from the heater to its needed location. They sell for about 195.00 or less and are some what easy to install.
I asked a 30 yr journymen plumber the same question , whats better a $600 hot water heater or a $400 one? he laughed and said they are both the same!!! your just buying the extended warranty for 200 bucks,
That being said, I own several rental homes,
When I need a hot water heater, [about every 4 years out here] I buy it from Home depot, Know why?
Because they offer A LIFE TIME warranty on it, as long as its the same home.and owner
sure you pay for it, they carry GE out here/12 year free replacment,just change it out before the 12 yrs is up…most wont last that long not these days any way, 20years ago perhaps
but I have only had to pay one time for each house, the rest of the time they are exchanged for free. If you pay them to install the fist one, other wise they just trade out the unit for a new one,no questions asked! Had 2 changed out last year, cost me only new supply lines is all, $43.00 for each unit.
Check with the customer sevice desk, You may have to ask a few people untill you get some one who knows the drill, But the deal is out there, just not too many know about it.
A blanket and a timer [for electric] are also items to look into for getting the most performance for less money.
James Hood
CAdillac Tile LLC
Phoenix Arizona