When buying an electic water heater you should make sure that you really need one. Unless the water heater is leaking water from the bottom or is just very very old then I wouldn’t replace it.
Installing a water heater can be a little pricey if done professionally, but there are many resources that you can find on the internet to do it yourself if you want to cut back on your budget. Electric water heaters are normally powered by 210-240 volts, and they usually consist of a couple heating elements to keep the water hot.
When looking for one you need to consider how much water you are really going to need, the average house or apartment can usually get by with just a 30 gallon water heater, but the larger houses or even a small shop might need a bigger holding capacity.
Since electric water heaters are really the most common types that are out there, and they are usually the easiest to install, they use more energy than most gas water heaters do. Meaning that you are going to be paying more out of the pocket as the time goes by.
If you are someone that rents out a home then they would be perfect for you as you will more than likely not be paying the electric bill. But for me, the best water heater out there are the solar ones, but they are also the most difficult to install, and on top of that they are also the most expensive type of water heater also.