Will a Tankless Water Heater Improve My Home’s Value?

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May 28, 2019
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Will a Tankless Water Heater Improve My Home’s Value?

With their slim, space-saving design, a tankless water heater seems a great alternative to traditional water heaters that often consume a whole closet or corner of the garage. They both heat water to a set temperature, but aside from size, here is their main difference; a traditional water heater mixes cold water with the heated water in the tank as the supply drops.

Depending on how fast that heated water is being used, the temperature of the water in the tank can drop, causing you to turn the shower or sink tap further to get consistently hot water. The hot water supply can temporarily run out as the tank heats up the newly refilled gallons. A tankless model, on the other hand, heats the water instantly over coils as it is pulled through, resulting in a seemingly endless supply of hot water at the same temperature.

Here are 4 key ways a tankless water heater can add value to your home.

 

1.  Energy Efficiency and Savings

According to Energy.gov,  tankless water heaters are more energy efficient than the alternative, but depending on how much hot water you use, the magnitude of that difference changes. For example, as Energy.gov points out, if you use 41 gallons or less of hot water each day, a tankless water heater can be 24% to 34% more efficient. 

On the other hand, if you use an especially large amount of hot water, tankless water heaters are up to 14% more efficient. Depending on the amount of hot water you need, the value of a tankless water heater may go up or down. It’s worth noting that even though the relative efficiency of a tankless water heater may diminish with a larger volume of hot water needs, the savings you earn will still be greater in real dollars. Energy.gov estimates that the average family will save over $100 annually in energy bills alone with a tankless water heater.

2.  Increases Storage Space

Extra storage space is always a major selling point in a home. Traditional tank water heaters take up usable floor space in the garage, in a closet or in a basement. A tankless water heater is often mounted on the wall, freeing up useful floor space and giving back about 10 to 15 square feet of storage to you and future prospective buyers.

 

3.  Green Is the Future

Words like “sustainability” and “carbon footprint” hold increasing importance to the newer generations of home buyers. Energy efficiency and environmental responsibility play an important role in the decisions young adults make when it comes to purchasing homes, cars, and other large assets. Additionally, they are willing to pay more for sustainable products.

Upgrading your home with energy efficient and resource conservative systems, like a tankless water heater, make it more attractive to this demographic. Consumer analysts say this is a trend that will stay on a steady incline for many years, as more companies offer options geared toward this market demand.

 

4.  Compete With Newer “Smart” Homes

Take a few minutes to research the home building trends where you live. What features are going into new construction homes? Having EnergyStar rated heating and air units and advanced wireless security systems are just two examples of former “upgrades” now considered baseline must-haves for today’s home buyers. If your home can showcase a tankless water heater, it may help you compete against similar listings in your area with increasingly outdated features, as well as level the playing field with newer, more energy-efficient homes.

There are many other pros and cons of tankless water heaters, let one of our Ben Franklin Plumbing professionals provide a consultation in your home. We can help you decide what size system would be the best match for your usage demands and budget, plus find the optimum location within your home for installation. 

Rest assured, our Ben Franklin Plumbers are always standing ready to respond 24/7. We have the advanced tools and know-how to detect problems, make repairs or replace with quality new parts. 

Our monthly service and product specials can also save you money! Contact us or call our 24/7 customer service line today 800.471.0809.