Choosing a good water heater for your home is important. Thankfully, it isn’t terribly difficult, as you only really have two categories to consider. There are water heater tanks, and then there are options referred to as tankless water heaters.

Which one is right for you? This comes down to weighing a range of factors:

• Water Heater Tanks: Also known for being traditional water heaters, these units are designed to store water. The water is then heated and used for one purpose or another on your end. Most tanks will hold somewhere between thirty and fifty gallons of water. Once the tank has been emptied, it will refill and heat up again.
• Tankless Water Heaters: A relative newcomer to the field, tankless water heaters have received a good deal of praise. Utilizing a heat source, rather than heating and storing, you get the built-in benefit of being able to warm up cool water instantaneously. Or as close to instantly as you can get.

Each option has its own pros and cons. With traditional water heaters, you have something that offers a low initial cost, as well as a very straightforward installation process. On the other hand, because your tank is constantly heating and storing water, you are going to be met with consistently high utility bills. They take up more space, have a comparatively shorter lifespan, and always come with the caveat of running out of warm water at the worst possible time.

Then you have tankless water heaters. These cost more to install, but they offer a longer lifespan, combined with the long-term benefit of reducing your carbon footprint and monthly energy costs. They take up less space than traditional heaters, and also come with the benefit of providing that warm water instantly and consistently.

Regardless of which water heater you use, it is vital to know when something is going wrong.