Well, unless you are wearing size 48 jeans that show 80% of your butt crack...you are ill-advised and no doubt unqualified to do plumbing repair.
Water-heaters are one of those items that should be designed for easy repair and swapping out of elements, etc....but instead they're a huge PITA.
You may be right....it may simply be the thermostat (and you can check that with an ohm-meter easily...any multimeter has an ohms reading for doing such a test...use it.).
Maybe you'll luck out and find it is a faulty thermostat, but just as likely it might be the heating element going bad....and in modern water heaters that's not a replaceable item.
Depending upon how many bathrooms and people and HW useage in your house....you might want to think about an "on demand" set of water-heaters. But if you have a LOT of useage, it's actually more efficient to go with one of the standard US Energy Star rated water heaters.
BackcountryNC: Ha ha....I liked the crack about HOT water HEATERs. Yep....I guess just 'water heater' would suffice...or perhaps a cold water heater. 
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"The reason death sticks so closely to life isn't biological necessity - it's envy. Life is so beautiful that death has fallen in love with it; a jealous, possesive love that grabs at what it can." by Yann Martel from Life of Pi
Posted by DJSapp:
"Squirrels are rats with good PR."
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