Tankless Water Heaters: Are They Right For You?

If you're in the market to replace a water heater, now may be a good time to consider a tankless variety.

After getting over the initial phobia of not having hot water sitting in a tank waiting for you to use (and wasting a lot of electricity at the same time) here are some of the things you need to know about tankless water heaters:

1. Tankless water heaters don't require a lot of room. With traditional water heaters there are different sizes and shapes but when you are using one of these for your entire home you can be sure these water heaters will be a lot larger than the tankless heaters. The gas tankless water heaters are approximately the size of a suitcase and the electric tankless heaters are the size of a briefcase. So, obviously these heaters are going to take less room than the traditional water heaters.
2. Tankless water heaters last longer than traditional water heaters. These days, traditional heaters last about 8 to 12 years. Tankless water heaters don't have water storage like the traditional heaters do so they last longer. The gas ones will last about 15 to 20 years and the electric ones will last 30 to 40 years.
3. Tankless water heaters will save you money. To get a tankless water heater will be more expensive than traditional water heaters. The tankless heaters will save you money because they cost less to operate. With these water heaters you can save 40 to 50 percent on your water heating bill every month. Over time this will save you a lot of money.
4. Do you ever run out of hot water when there is more than one person taking a shower? The tankless water heater will take care of this problem because these water heaters will make sure you always have hot water. Tankless heaters heat the water as it moves through so you will never run out of hot water.

So if your old water is due to be replaced, take the time to check out tankless water heaters so you can decide if this would be a good thing to have in your home. If you have to buy a new water heater, why not get one that has so many benefits to you?

If you have any experience with a tankless water heater, we'd love to hear about it, pro or con. Just click the comment link below and tell us about your tankless water heater experience. We'd love to hear from you. Don't worry, even though your email address is required to post a comment, it will never show up here when your comment does.

Housing Upgrades That Don't Pay

Before you dive into a major renovation project to give a house your special signature, consider how long you're likely to stay in the house.

A lot of people get into trouble by going into a home they're only going to be in for a relatively short period of time, and they start doing renovations and additions that are sort of on their fantasy list, but they're not going to be there long enough to really enjoy.

Here are four reasons to proceed with caution, particularly if you want to maximize your chances of a profitable resale later on.

1. High maintenance - If your upgrade requires too much upkeep, buyers may view it as more of a nuisance than an asset. A prime example is an in-ground swimming pool, which can cost a small fortune to install, secure, heat and clean.

2. Overdressed - Luxurious amenities can be a good selling point, but only if they blend in with rather than outshine what the neighbors have. Having the nicest home in the neighborhood can be a bad thing when it's time to sell. A prime example would be upgrading the kitchen in an entry leval home to reflect remodeling from high-end home magazines.

3. Too Personal - Making a "Cookie-Cutter House" in the image of your own exquisite taste. Any time you deviate, no matter what the improvement is, from what is a fairly traditional, single-family house, you run the risk of improving in a fashion that will not lend itself to additional dollars at re-sale time.

4. Unpopular - If no one else on the block has a room like the one you're adding, or all the other houses boast the very feature you're getting rid of, watch out. For example, although converting your garage into an office, bedroom or playroom can be a less expensive way to add square footage and create more living space, it can have drawbacks. Potential homebuyers might miss the sheltered parking more than they welcome the additional room, especially if other homes in the neighborhood have garages.

This final tip for whatever type of home renovation you may be considering: Before you do anything in a house, live in it for a while. Prioritize what needs to be done, then go back a year later and see how much your list has changed.

If you have comments or questions about this article on housing upgrades that don't pay, use the comment link below to sound off. Your privacy will be protected, as we never publish anyone's email address on this blog. We welcome your comments.

Biggest Water Wasters

Are you flushing water (and money) down the toilet every month? You may not think you're a water waster, but maybe you should find out:

Stacy Johnson has more in this short 1:31 video…

So how much water are you wasting every month? Any other ideas for saving water and/or electricity? Tell us about them… use the handy "comment" link below.

Home Improvements: Prices Improving?

When it comes to food and fuel prices, they're going through the roof. But what about the roof itself? There the news might be a little better. Stacy Johnson takes a closer look in this short (1:18) video.

Tell us what you think… we'd love to hear YOUR opinion.  Use the comment link below to sound off.

Remodeling Your Home: Five Questions to Ask First

If you're planning to tackle a remodeling project this Spring, make sure you know exactly how big a renovation you can afford and whether it justifies the time you intend to spend in your revamped home.

There are 5 big questions you should ask yourself before you even break out the legal pad and scratch out your plans:

1 - How long do I plan to stay in my house after the renovations? The longer you plan to live there, the more creative you can be. But if you're planning on selling the house in the next five years, keep potential buyers in mind with your choices. In the latter case, for instance, go with neutral colors in the kitchen and bathroom, and consider maple cabinets. Some people hate oak, others hate cherry, but the majority can live with maple.

2 - Am I doing just cosmetic fixes or am I ready for an all-out overhaul? It's OK to make small changes one at a time, but think long-term about the next step. For example, if you're buying a new sink, buy one with enough holes on the deck for the faucet, sprayer and soap dispenser you might want to add on later. And if you know you're going to buy new cabinets later, don't replace the countertop with expensive granite now. The chances of reusing it are very slim — either it breaks when you try to remove it, or it doesn't match the footprint of the new cabinets.

3 - Am I prepared for the home upheaval? Be realistic about how long your project might take. Renovations can go on for months, so you need to be prepared to make do without that bathroom, kitchen or bedroom. When checking references before you hire your contractor, be sure to ask if the company finished the work on time. You'd be surprised how quickly a week can turn into a month. And if you're bunking up with your in-laws during renovation, that month can seem like a year.

4 - Are the renovations keeping with the style of my home? Any big changes you make to a home inside should reflect what future buyers will expect from the outside. If you live in a Victorian house, don't make it too contemporary. People who see a historical exterior will expect a historical interior, so stay true to the details. The same goes for a contemporary or modern home, where future buyers may not expect old-fashioned details like antique crown molding.

5 - Are my Do-It-Yourself choices reasonable? You may consider yourself handy, but many do-it-yourself jobs demand your time more than anything else. If you have a full-time job, are you capable of taking on a second one? Some makeovers that are not technically difficult can take longer than you think. For that reason, if you start any job yourself, try to sample it before committing to the whole thing. For example, while refinishing cabinets with a new stain isn't rocket science, sanding down each one can take forever.