Thinking of upgrading to a tankless water heater? 🌊
Well, you’re not alone! Those are very popular among homebuyers and homeowners right now.
While tankless water heaters are more expensive than a storage water heater or a heat pump, they are also more energy-efficient and can save you money down the road.
Not to mention that homebuyers like to see tankless water heaters in the properties they’re considering buying.
But is it worth it?
The main pros are lower energy bills, a smaller footprint on the environment, immediate hot water supply, remote control through “smart” apps, and longevity (tankless water heaters can last 20+ years!).
The cons are the initial price tag ($800 to $1,500 is pretty typical), installation cost (which registers at about $2,000), and how long it takes to pay you back (it takes 21 to 26 years to recoup your initial costs!).
So if you’re planning to live in your current home for a long time, then it might not be such a bad idea to invest in a tankless water heater. It might not pay you back for a few decades, but the benefits of an instant hot water supply are immediate, which is nice.
However, if the plan is to move within the next year or so, then it’s probably not a great idea. When buying next time, just try to buy a home with a tankless water heater!
Thanks for taking the time to check out our website. We are local Columbus residents that focus on buying properties off-market (with no commissions) for cash. We are not “flippers” or “investors” looking to pay pennies on the dollar. We are local Buckeyes with families and we focus on buying rental properties. This allows us to make fair market value offers based on comparable sales and needed repairs. We are a small, but mighty team that thrives on helping others and works toward a common goal that provides a positive outcome for everyone.