What’s the first thing that comes to mind when we talk about increasing the value of our homes?
Renovations, landscaping, and new appliances are common ways to boost our property’s worth.
However, have you ever considered how your water heater increases your home’s value?
Investing in a new water heater may seem challenging, but it can positively impact your home.
This blog post will explore the benefits of installing a new water heater and how it can add value to your property.
Are you looking to increase the value of your home? Adding a new water heater, specifically a tankless one, maybe a good place to start.
According to data, homes with tankless water heaters sold for 4% more than expected and 43 days faster.
The energy efficiency of tankless water heaters can also save homeowners money in the long run.
Additionally, tankless water heaters provide many benefits that increase your home value.
What Is The Purpose of Installing A Water Heater In Your Home
Installing a water heater in your home can serve a few purposes:
1. It provides hot water for your daily needs, such as showering, washing dishes and doing laundry.
These activities would become easier and more comfortable with a water heater, especially during colder months.
2. A new water heater can increase the value of your home. Potential buyers prioritize modern and efficient features when looking for a home, and a new water heater adds to that appeal.
3. Tankless water heaters are energy-efficient, increasing the potential savings on monthly utility bills.
Overall, installing a water heater provides convenience and boosts home value, making it a worthwhile investment.
Apart from water heaters, a new garage door and other relevant upgrades will increase the home’s value.
What Are The Types of Water Heater Available In The Market
When it comes to water heaters, there are several options available on the market.
Tank water heaters are the traditional type that stores and heats water in a large tank.
On the other hand, tankless water heaters heat water only when needed, resulting in greater energy efficiency.
Heat pump water heaters absorb heat from the environment and transfer it to heat the water.
Solar water heaters use energy from the sun to heat the water and are an eco-friendly option.
Lastly, condensing water heaters use advanced technology to extract heat from exhaust gases, resulting in increased efficiency.
Before deciding on a water heater, it’s essential to consider factors such as the number of people in the household, energy efficiency, fuel options, and purchase price.
Ultimately, choosing the right water heater depends on individual needs and preferences.
Does The New Tankless Water Heater Increase The Value Of Your House
Installing a new tankless water heater can increase a home’s value.
Studies have shown that homes with tankless water heaters usually sell for 4% more and sell faster than homes with traditional heating tanks.
Tankless water heaters are more desirable for a number of reasons. Following are a few of them:
Energy Efficiency
A tankless water heater offers undeniable benefits when it comes to energy efficiency.
Unlike conventional storage water heaters, tankless units do not experience standby energy losses, which can save homeowners money in the long run.
Tankless heaters are designed to provide hot water on an as-needed basis, which means they only heat water when it is required and not when it is not.
By doing so, they minimize energy consumption and help households save precious dollars on utility bills.
Reduces Water Leaks and Damages
Tankless water heaters are becoming increasingly popular due to their capacity to reduce the risk of leaks and water damage.
Traditional heaters can be the cause of substantial repair costs and high water bills, particularly if there’s a slow leak.
With a tankless heater, there is no need to store hot water, and no tank means no risk of flooding or damage to carpets, furniture, or electronics.
Additionally, these heaters only heat water when needed, which is great for large families with members who tend to use up all the hot water.
Provides Additional Storage Space
A tankless water heater provides additional storage space in a home.
Traditional water heaters take up valuable garage or basement floor space, leaving prospective buyers with limited storage space.
Tankless water heaters are wall mounted, freeing up 10 to 15 square feet of storage space.
This extra space is a real selling point for buyers who prioritize storage.
A Desirable Choice
Tankless water heaters are becoming a more desirable choice for homeowners.
They offer increased energy efficiency and savings, freeing up valuable real estate in the home.
Further, with the growing trend towards sustainability, tankless water heaters provide a greener option for those concerned with their carbon footprint.
With savings on energy bills and the potential for tax incentives, tankless water heaters offer both financial and environmental benefits.
For those looking to renovate or upgrade their home, a tankless water heater is a desirable choice.
Compete With Smart Homes
A tankless water heater can add value to your home by providing a more energy-efficient and space-saving option for hot water.
Moreover, energy efficiency and sustainability are becoming increasingly important to younger generations of home buyers.
By upgrading to a tankless water heater, you can appeal to this market demand and compete with newer, more energy-efficient homes.
Even in markets where energy costs are low, a tankless water heater can offer longer lifespans and peace of mind knowing there’s no risk of 50 gallons of water rupturing inside the home.
Therefore, if you are interested in increasing your home’s value, installing a tankless water heater is a smart investment.
What Are The Things You Need To Consider When Installing A New Water Heater
When installing a new tankless water heater, there are several things to keep in mind.
First, it is essential to understand the pros and cons of this type of equipment.
It is also crucial to determine the appropriate size for your home’s needs and to have an expert technician assess your home’s water quality.
Furthermore, ensuring that the installed equipment is supported after installation and that transparent pricing policies are established is essential.
Lastly, suppose you are looking to increase your home’s value. In that case, a tankless water heater can be a valuable addition.
What Are The Downsides Of Installing A Tankless Water Heater
While there are many benefits to installing a tankless water heater, there are also a few downsides to consider.
The upfront cost of installation is higher than that of a traditional tank water heater.
If you have a large household with high hot water usage, a tankless system may not be able to keep up with demand.
In this case, multiple units or a hybrid system may be necessary, adding to the already high cost.
Another downside is that some tankless systems may require more maintenance than traditional tanks, including the need for regular descaling to prevent the buildup of mineral deposits.
Despite these downsides, many homeowners still find the energy efficiency and space-saving benefits of a tankless water heater to be worth the investment.
What Are The Few Other Plumbing Improvements To Increase The Value Of Your Home
When it comes to increasing your home’s value, several plumbing improvements can make a difference.
Replacing old fixtures with new ones can provide an updated look and appeal to potential buyers.
Installing a new water heater can also be a smart investment.
Additionally, adding a water filtration system can be a valuable addition, especially in areas with hard water or other water quality issues.
These systems not only provide better-tasting water but can also extend the life of your plumbing fixtures.
Lastly, a bathroom remodel can be a significant improvement that can add value to your home.
Upgrading fixtures, adding a low-flow toilet, and replacing outdated tile can make a big difference to potential buyers.
Overall, plumbing improvements can not only increase the market value of your home but also provide benefits for you and your family while living there.
Final Thoughts
Overall, investing in a tankless water heater can certainly increase the value of your home.
According to real estate data, homes with tankless water heaters sell faster than expected.
Not only is a tankless water heater energy efficient, saving up to 34–14% more energy than traditional tank water heaters, but it can also provide extra floor space as it is fitted onto the wall.
Additionally, as technological advancements become integrated into homes, features like tankless water heaters can help boost your home’s appeal to buyers, especially those who prioritize sustainability and environmental responsibility.
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FAQS
Do You Need To Replace The HVAC Unit Before Selling The House?
If you’re planning on selling your home soon, it’s essential to assess its current value and consider any improvements you can make to increase its appeal to potential buyers.
One vital aspect to consider is your HVAC system.
If it’s outdated or inefficient, it could turn off potential buyers or lead to a lower sale price.
Investing in a new HVAC unit can add value to your property.
Does Solar Panels Increase The Value Of Your Home?
Although potential buyers see the value in the savings on their energy bills due to the evolving technologies, solar panels will not significantly improve the house’s resale value.
What Is The Best Water Heater To Increase The Resale Value Of Your House?
When it comes to increasing the resale value of your house, a new water heater can make all the difference.
A tankless water heater offers increased energy efficiency and savings, freeing up more real estate in your garage or basement and exceeding the expectations of new homebuyers.
Hence, it is the best choice to increase the value of your house.