Tankless water heaters are an undeniable benefit to any house that boasts them. They provide hot water on demand, they use less energy overall, and they take up a great deal less space than a more traditional water heater with a 40 or 50 gallon tank attached to it. Not only do they come with these very respectable benefits, but they can also add value to a home.
How Much Value Can They Add?
A tankless water heater is not a cheap proposal by any stretch of the imagination. They typically require larger pipes, and will need either a gas or electrical source for their power. The cost of the actual tankless water heater can run anywhere from $800 to $3,000 for a central unit, though smaller on-spot units can cost as little as $200 or so. Installation of a central unit can take time, and should always be done by a professional. Additionally, some areas require a permit and an inspection of a tankless water heater, further increasing the costs by $40-$70 or thereabouts.
Many of these costs can be lowered by installing a tankless water heater during a home’s construction, rather than replacing an older water heater with a tankless model. Additionally some districts might offer green energy credits as a way to make the installation more affordable as well. When all is said and done though, the value added to a home will depend on the model of tankless water heater, how reliable it is, and how far along in life the model has come (most models come with a 20-year lifetime).
Is It A Selling Point?
While a tankless water heater can add a few thousand dollars onto a home’s cost when it comes time to sell, the real question is whether or not a buyer considers the feature a positive one or a negative one. Just like a swimming pool or vinyl siding, a tankless water heater might look good on paper, but when it comes time to actually sell the property it might not be viewed as positively by the market at that time. So, as with any other home improvement, a tankless water heater can add value and does look good on paper. It does save energy, and take up less space. The question of whether it will bring in more money than it cost to install however is harder to answer.
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