We’ve all been there. Blissed out in a hot shower when the unthinkable happens: the water suddenly turns ice cold, leaving you to scramble and shriek. When you’re living on a limited hot water budget that comes with a standard tank water heater, life gets less fun.
That’s why tankless water heaters have become all the rage. Unlike a standard heater that keeps a certain amount of water heated at all times, a tankless water heater heats water as it passes through the unit. That results in practically endless hot water and 0 cold showers.
But is investing in a tankless water heater worth it? Well, like everything else, unlimited hot water has pros and cons.
First, let’s cover the cons. Tankless water heaters are pricey on the frontend. They’re a newer technology and they take longer to install, so you’ll probably pay $500-1,000 more for a tankless heater than a traditional one. They can also take longer to heat up water and can struggle with getting hot water to multiple rooms/appliances at the same time because water gets heated as it passes through the unit.
But a tankless heater saves huge amounts of energy (up to 25 percent!), which is a good thing for your gas or electric bill. They also take up less space and last way longer—up to 30 years.
Plus, if your home is located in an area where energy bills are high, a tankless water heater can be a major perk for buyers. While it’s not going to sell your house or really boost your ROI, a tankless water heater definitely adds marketability to your home. I’ve definitely seen buyers’ ears perk up when they hear “tankless water heater.”
So if you’re looking to sell your home soon (within the next couple of years), a tankless heater probably isn’t the best update. But if your selling plans are a bit further down the road, say 5-10 years, a tankless heater might be exactly what you need. And the best part is that you’ll have the chance to take advantage of the energy savings and that endless supply of hot water.
That’s the skinny on tankless water heaters. If you’re thinking about selling and are wondering which updates are the best for your home, just give me a call!