I'm a little unsure of what you're looking to replace. Are you talking the boiler for the house heating system or just the hot water heater? Or is it a boiler for your heating system that also supplies your hot water?Â
Â
I would say any boiler for a heating system should last longer than 15 years and may only need a minor repair if it's not working correctly. If it's just a water heater that is a separate unit from the heating system I think most only have 5-10 year warranties on them and it may need replacing, but it is possible it may also just need a small repair also. We had a water heater that had a bad thermocouple and it was a lot less to replace that than the whole tank! I would definitely call a plumber to come out and look at it before you go out and replace the whole unit if you don't know what's wrong with it. If you're talking just a hot water heater, than you can definitely go with a larger tank if you feel that the 40gal isn't enough for your house. It just takes up a larger space and the larger the tank the more water your keeping hot and it will cost more to run (probably not a ton more though).
Â
So it really depends on what you're looking at doing and what type of heating system you have.