Sometimes reducing costs in the long term means increasing them in the short term. That's basically why I decided to research the idea of installing a tankless water heater in my home.
I found that on average I could get a whole-house tankless (one that can handle 2 bathrooms concurrently) for around $600. Add to that the cost of installation (I definitely recommend getting a pro to install it) and yearly maintenance (descaling, etc), and we're at around $1,000 for the whole caboodle.
Now for the good part. We're a family of 5, so our monthly water heating expenses are relatively high. By the end of the first year with the tankless I realized I'd saved almost $300 for the year on electricity. Doing some quick mental gymnastics (didn't even need a calculator, mind you), I realized I'd be making back my initial investment in a little over 4 years time. Everything after that is pure savings.
I was wondering if any of you had any experience with installing a tankless water heater, and if it ended up saving you any money.
By the way, I enjoyed the research phase on purchasing my tankless so much that I wrote a detailed guide to help others in the process. It also answers a ton of questions you might have on the topic. You can find it here.
January 26, 2017 at 08:55AM
