These days, home buyers are looking for environmentally friendly home features that reduce their monthly costs. But they’re also looking for luxury features that make their home more comfortable. A tankless water heater is a perfect cross between both. So will adding a tankless water heater help you sell your home? It can, depending on a few factors. Here’s what you need to know.
Are You Getting a New Water Heater?
If your home already needs a new water heater before you sell, then it makes plenty of sense to choose a tankless version. You have to invest, so you may as well choose a water heater that will be seen as an asset and help draw in buyers. According to Zillow, homes with tankless water heaters on average sell for 4% more and 43 days faster.
However, if your current water heater is in good condition, it’s a little harder to assess whether a tankless water heater is a good investment to help you sell your home. The fixture can add a ton of value to your home, generate interest from buyers, and maybe even seal the deal over other homes in your neighbourhood, but there are no guarantees. Talk to a real estate agent about what’s most desired by buyers in your neighbourhood and make sure that buyers will appreciate the tankless water heater.
Selling Features of Tankless Water Heater
Why is it that homes with tankless water heaters sell for more and significantly faster? There are a few reasons that home buyers may be drawn to them, including:
- Long-term costs savings: Tankless water heaters are more energy-efficient than tank versions. They heat water on-demand instead of keeping a huge amount of water hot and ready for use at all times. This results in long-term savings on lower energy bills, which home buyers care about.
- More space in the home: When you remove a tank water heater, you gain a lot of space. Typically, this is storage space, which home buyers are looking to maximize. Plus, this new space can make the room that the water heater was in look larger and help create the impression of a larger home.
- Environmental consciousness: Home buyers are looking for homes that have green or sustainable features. After they buy, they won’t have the money to invest themselves, so they seek homes that already lower their impact on the environment. A tankless water heater fits right in.
- Smart home features: Home buyers also expect to be adding their own smart home features to their home, from smart thermostats to voice search. They expect features that predict or fulfill their needs, and a tankless water heater does that.
- Luxury: A tankless water heater will let buyers take a hot shower for as long as they want. The luxury is appealing to many.
Planning to Sell?
If you’re not selling right now but will be in a few years, investing in a tankless water heater to help keep your home as attractive to buyers as possible is likely a good idea for you. Plus, you’ll enjoy the benefits for yourself until you sell!