If you are looking to increase the value of your home, adding a tankless water heater to your features is a great place to start. According to a study conducted by Zillow, homes with tankless water heaters sold for 4% more than their expected value. On average, these homes also sold 43 days faster than expected.
If you are looking to sell your home in the future, replacing your water heater can be well worth the investment.
Reasons Why Tankless Water Heaters Increase Your Value
1. Energy Efficiency Can Save in the Long Run
Energy.gov does recommend tankless water heaters as a more efficient alternative for homes. Depending on the amount of water used daily, tankless water heaters can range between 34-14% more efficiently than their tank counterparts.
Additionally, energy efficiency can save you money. On average, people that make the switch to tankless save about $80 a month on their electric bill. Even though a tankless water heater is an initial investment, you can quickly make up the difference and start saving beyond.
2. Extra Space for Storage
Traditional tank water heaters take up a lot of space and valuable floor real estate in your garage or basement. Because tankless water heaters are fitted to the wall, they can create about 10-15 square feet of additional space. That extra space can be very attractive to potential buyers, instead of seeing an area where they can’t store more things.
3. Compete with “Smart” Homes
Looking at the housing market, you can see that features like wireless security systems and EnergyStar-rated HVAC units have gone from “upgrades” to “must-haves”. Technological advancements are being integrated into every home, and a tankless water heater can help boost your feature list against these new and shiny Smart Homes.
4. The New House-Buying Market Is “Green”
The new generation of house buyers cares a lot about sustainability and environmental responsibility. They are more willing to pay higher costs for products and services that are sustainable. Making improvements to your home that align with this demographic’s desires can make your home more desirable on the market.
About the Author: William Iliev, Mr. Rooter Plumbing of Charlotte
William has been a trusted plumber and owner of Mr. Rooter Plumbing of Charlotte since 2003. With over 15 years to back him, William has experience with a wide range of plumbing-related solutions and systems. He and his team specialize in water heater services, tree root plumbing repairs, and more.