Whether you're building a brand new house or replacing an old water heater that has finally kicked the bucket, chances are, you've heard about tankless water heaters. Advocates of these relatively-new devices claim that they can deliver a virtually limitless amount of hot water, faster than your traditional tank water heater.

But are they right? Here are some things you should know about tankless water heaters.

1. They Pay For Themselves

There's no way to get around it: tankless water heaters are a more expensive water heater installation than a traditional tank. With that said, tankless heaters begin to pay for themselves almost immediately upon installation. For starters, since they deliver hot water faster, you'll spend less time standing in front of your shower waiting for it to reach the optimal temperature. Those 20–30 seconds every single time add up to hundreds of dollars of energy savings over the life of the unit, which, by the way, also lasts longer than their traditional tank counterparts. The average life expectancy of a tankless heater is around 20 years, which is nearly double the 10–15 years of a storage heater.

2. They'll Almost Never Flood

Accidents can always happen, but the very design of tankless water heaters mean there is almost never a chance of you coming home to a flood in your garage or basement. Instead of holding a massive reservoir of water, tankless water heaters operate by heating the water as it travels through their pipes; their small size is one of the reasons they can be placed underneath sinks and near showers. Since there's no standing water, there's less of a chance of it leaking and spilling out onto the floor.

3. They Still Require Maintenance

In case you think tankless water heaters are bulletproof, you still need to remember that they require regular maintenance, just like everything else in your home (though admittedly, they do require less maintenance than a traditional water heater). If you live in an area that has hard water ( or where water that has a high mineral count), you'll need to be extra cautious with your tankless water heater installation, as those minerals can be tough on tankless systems. On the other hand, sediment build-up is not usually a problem since there's not a standing tank of water, and corroding is also not an issue. While the amount of maintenance required for tankless water heaters is minimal, it still exists.

Learn more by contacting water heater installation contractors.