Having the correct supply of hot water for your home is always a priority. If your current hot water tank needs to be replaced or if you are building a new home, choosing between traditional & tankless water heaters can seem a bit overwhelming.
Both systems are good options for most homes. Making a choice between one or the other comes down to understanding the pros and cons of each and how these translate into meeting your needs.
Size
There is no comparison when it comes to size. The traditional type of hot water heater takes up a lot of space, particularly if you are considering a 30 to 50-gallon tank. Water is stored at a continual temperature in the tank. It is possible to run out of hot water with heavy demand and they do take a while to heat up a large volume of water.
The tankless water heater is a small box that is mounted to the wall. It takes up less space as it does not store any hot water, rather it heats the water as it flows through the heating system. There is no issue with running out of hot water, but with multiple taps using the water at the same time it may be difficult to maintain the temperature.
Price
The initial cost between traditional & tankless water heaters is considerable. The cost of a traditional water heater will be significantly lower, but the cost of continued use of the traditional option can be about 30% more than the tankless option. This means that the tankless is considered more energy efficient and less expensive to run over time.
Most traditional types of water heaters need to be replaced about every 10-12 years. A tankless heater will typically last at least 20 years or more, which is another consideration.
Remember, if you are considering the differences between traditional & tankless water heaters with an existing system, there will be some additional installation costs when switching options. This will also need to be a factored into the final choice.
