LESLIE: Martin in Connecticut, you’re live on The Money Pit. What’s going on?
MARTIN: Yes, I’d like some information on the hot water heater that’s on demand.
TOM: Tankless. Mm-hmm.
MARTIN: Is there going to be a change in my water system such as from a half-inch line to a three quarter-inch line? And how much would it be to install it? Plus, I’m on – my water system is a private well, which is I – the maximum is 40 pounds pressure. Will it work on it?
TOM: Well, the benefits of a tankless water heater, Martin, is that it’s on demand so it only heats water as you need it. Installing it and purchasing it is more expensive than a traditional water heater. It’s not – it will probably work fine with the heating pipes that you have in your house except that where it needs to be connected to, that needs to be done by a professional plumber.
Are you going to be in your house for a long time? Because if you are, then you’ll definitely get a payback from spending a little bit more money to install now. It’s a very convenient and very efficient system and we like them a lot, but it is more expensive to put it in to begin with.
MARTIN: I only have 40 pounds pressure. Will it take that?
TOM: I don’t think there’s going to be any problem with the amount of pressure.
MARTIN: Any other advice?
TOM: Well, my advice to you, Martin, is if you’re going to be in your house for a long time, then you have the opportunity to get a good return on investment for installing a tankless water heater. If you’re going to be in your house for the short term – say, five years or so – then any savings – you’re not going to be in the house long enough to appreciate that.
MARTIN: Thank you very much.
TOM: Thank you so much for calling us at 888-MONEY-PIT.