Are Tankless Water Heaters Worth It?

First off, let’s define what a tankless water heater is. Basically, it heats your water on demand - only as you need it.  Unlike the traditional water heater there is no 40 or 50 or even larger tank of water sitting there constantly using energy to keep the water at temperature. The tankless fires up when you open the hot side of the sink or shower and shuts down when you close the valve.  You can literally fill a swimming pool with hot water without running out!  

So, why doesn’t every house have one? They do require yearly maintenance for mineral buildup, which turns some people off. Of course, your traditional water heater is supposed to get maintenance too but no one seems to do it! If you don’t have gas in your home you would have to get an electric unit but they typically require an expensive upgrade to your electrical service. Tankless versions can also  be overloaded and unable to keep up if there are multiple demands for water at the same time.   

In the end, they are more efficient. I’ve seen stats quoted of $25 to $104 dollars per year in energy savings from a tankless. However, I don’t think that’s enough in most people’s eyes to justify the added maintenance and make the switch. I’m always available when real estate related questions come up - so reach out any time!