I went tankless. The electrical wiring upgrade cost more than the heater, but it’s still paying for itself in three years.
Our son had a regular hotwater heater in his attic and it ruptured and ruined the ceiling, walls, wood floor and a very nice piano that was below it.
Insulation was everywhere. He replaced it with a tankless.
My tankless is gas but it also requires a 120 volt outlet. 199,000 BTUs.