Tankless water heaters are the new and improved way of having hot water in your home or business. They are smaller in size, cost-efficient, and an instant upgrade to your home.
What is a tankless water heater?
A tankless water heater, also known as an “on-demand” water heater, heats up your water on an as-needed basis. Just as it sounds in the name, it is tankless. This means that not only does it only heat as needed, it also doesn’t take up as much space. In fact, tankless water heaters are typically the size of a suitcase. That means you can have more space because you aren’t having to make room for a huge hot water tank!
What are the pros?
As mentioned above, tankless water heaters are smaller in size. Instead of having a closet that’s dedicated to just your water heater, you can now use that area for extra storage space! They are about the size of a suitcase, and hang on the wall.
Tankless water heaters are also cost-efficient. They use 30-50% less energy than your traditional water heater. This means that these water heaters save families around $100 or more a year on their bill, depending on how much water you use.
A tankless water heater is an endless supply of hot water. You no longer have to time your showers to save hot water for the next person in your household! These hot water heaters typically take 2 minutes to heat up your water.
It can add more to your property value. According to Zillow, homes with tankless water heaters sold for 4% more than homes without.
What are the cons?
The upfront cost of a tankless water heater is higher than your traditional water heater. Not only is the water heater itself more expensive, but the installation process costs higher as well.
The smaller units won’t be able to heat up an entire household, most likely just one faucet at a time. This means you can’t run your dishwasher and shower at the same time. There are larger tankless water heaters that will be able to manage multiple runs at once, but these will have a higher cost.
You’ll need proper ventilation because most tankless water heaters run on gas or propane. When you get your water heater installed, you’ll also need to have a professionally installed sealed ventilation system.
Gas/Propane vs Electric Water Heaters What’s the difference between a gas or propane water heater and an electric one?
Electric tankless water heaters are more expensive to run, but they are also more efficient. Gas and propane heaters are cheaper to run, less efficient, and they will last longer.
What’s the price difference?
An electric tankless water heater typically costs around $500-$700 dollars. A gas or propane water heater is around $1000-$1200.
This doesn’t count for the installation process either. Installation can cost anywhere between $1,000-$2,000. Gas and propane water heaters are more expensive to install because they require a specific ventilation system.
If you’re remodeling, building or selling your home, a tankless water heater is for you. If you’re wanting to cut down on your monthly bills or become more energy-efficient, a tankless water heater is for you. If you’re constantly worried about a leaking water tank, a tankless water heater is for you.
This being said, a tankless water heater is not a Saturday afternoon project. While they can be purchased online and at your home improvement stores, we suggest leaving it to the professionals.
Is a tankless water heater the right switch for you? Give us a call at (615)-239-1266 to find out!
Or you can request an estimate here.