I'm looking to replace the water heater in my small, old rental property, and I've narrowed it down to two options. First, there's the 30-gallon electric tank water heater which is quite affordable at around $1,800, but it has the downside of potentially running out of hot water. My concern is that in summer, my electricity bill might skyrocket. The second option is a tankless water heater, which offers unlimited hot water, but the price is pretty steep—almost three times the cost of the tank heater. What do you all think I should pick and why?
3 Answers
I also suggest the traditional tank heater. Tankless can be appealing for space-saving, but they often require yearly maintenance, which can be a hassle. If you're unsure about the size, is there a reason you’re sticking with the 30-gallon limit? You may find a larger tank isn't that much more expensive!
For a rental, I'd definitely recommend the tank setup. Yours seems pricey; I replaced my 50-gallon electric tank for under $700. A tankless option could be overkill and more costly in terms of maintenance. You have renters to worry about; they might not want to deal with the annual flushing requirement.
Honestly, if you're going electric tankless, just go with the tank. They simply don't perform well for large water needs unless you have super modern electrical service. The 30-gallon tank seems pricey to me too—maybe you can find something more affordable! Plus, if you do end up with a tank heater, consider installing a thermostatic mixing valve. That way, you can crank up the temp while keeping things safe for taps.