excessive
If I went the tankless route it would have been over $5K.
We liked our tankless except in December/January, when the water supply was too cold. We had to reheat the water with a second tankless downstream before the shower.
Indeed they do. Just ask our neighbors. They installed tankless, went on vacation, and the flexible hot water connecting hose to the hot water faucet failed in the upstairs bathroom. Hot water poured into the house...and happily stayed HOT and pouring in for a day or more before one of us neighbors noticed water pouring out from under the front door. The entire house heated up to about 120F and was a soggy mess. Almost a total loss. They lived in a rental for about 14 months while it was rebuilt.
Moral of the story. Check your flexible connections and replace as necessary. Better yet, install hard tubes and get rid of flex connections. And it is smart to install a leak detection system that will report to you on your smart phone that the house is leaking.
A leak detection system is still on my to-do list. ;>)
They are just as prone to failure as a conventional water heater, more so if you do not have proper filtration ahead of them. By the way Tankless heaters despite the hype are not instant hot water at the fixture unless you have a recirculating system piped in. And a recirculating system on a conventional water heater will give you instant hot water also.
It's been a few years since I was in the trade but it used to be that when you added up the price tag of the Tankless, material, filter, having to add a receptacle if one isn't there and labor, the payoff of a Tankless was kind of far down the road. Oh and if it's a gas fired unit add the cost of piping a larger gas line to suppl it. These are some of the things that sales people neglect to mention while they try to hook you. Of course one of the other major benefits to a Tankless is the reclaimed space taken up by a conventional water heater.
Still the price the poster quoted seems high even it the heater had to be relocated or installed on a raised platform and new double walled vent, etc. There is always someone out there whose main business is to shear sheep.
Tankless HWH often require greater capacity circuitry than homes built earlier than a few years ago ( read “not for point of use HWHs); that is where the issue is unless you have the time, skill and resources to cut walls, drill floor and run heavier often 220/240 v wiring and upgrade your service panel.
Eh. I’ve had a couple friends that had thankless. Sure, you never run out of hot water, but it’s never really hot either.
Electrician bill for new wiring? Most instant water heater draw more than electric furnace for whole house.