Besides the promise of never running out of hot water, tankless water heaters have several additional benefits:
- Low operation costs
- Eco-friendly
- Increased property value
- Less risk of water damage
- Energy-efficient
- Longer lifespan
- Smaller storage space
However, tankless water heaters have a higher installation cost, which can make them a difficult investment for some. Additionally, homes that use a lot of hot water from different sources during peak hours run the risk of straining the system. The long-term costs often outweigh the initial price, though, both in terms of operation and lifespan.