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!
And if you want to sell your house fast, as-is, and for a fair cash price — without all of the typical hassle of the home selling process — then give us a call at (201) 713-5312. We can help!