Replacing a water heater is very costly. They can run you anywhere from $1100 for a tank type water heater and up to $4200 for a tankless. That is a significant difference in price. Why would someone spend so much more for a tankless water heater?
There are several good reasons why someone would choose to install a tankless water heater.
They save a ton of space. Tankless water heaters consist of a small box that is fixed to a wall.
They are much more energy efficient. They only heat water that is being used as opposed to keeping a tank full of water hot all the time. This is really nice for when you go on vacation and can save you money.
You will have endless amounts of hot water. No matter how many people take a shower the water will never get cold.
Tank type water heaters are not always capable of filling large bath tubs full of hot water.
Tankless water heaters last longer and are more reliable. Tank type heaters are designed to wear out and be replaced in time.
When purchasing a new home most people don’t take into account the hot water heater. In your house hunt if you notice a home has a tankless water heater that is a definite bonus. It is a good idea to check the age of the water heater prior to submitting an offer on a home. If it is a tank type water heater and 10 years or older you will want to have it replaced prior to taking possession of the house. This can save you a lot of hassle and money.