Cheap Water Heater Repair Starts With Simple Checks For cheap water heater repair, check the easy fixes before buying parts or booking a service call. Make sure the thermostat is set correctly. If you have an electric heater, check its breaker; if you have a gas heater, check the pilot light and follow the instructions on the unit. A failed heating element may also be a low-cost fix, but test it only after turning off and verifying the power is off. Stop troubleshooting if a