I was very interested in a tank less water because of efficiency and requires less space. A tank less hot water heater provides hot water only on demand vs a tank hot water that's always boiling water. My contractor suggested the traditional tank water heater because of the cost of installation. The tank water heaters that are being made now are very efficient and the difference in cost monthly range from $75 - $80 yearly.The cost of a tank less water heater unit and installation is around $1500 vs the traditional tank water heater that will cost about half the price. I think I will be cheap aka (compromising with the budget) and go for the traditional water heater.
http://www.consumerreports.org/cro/appliances/heating-cooling-and-air/water-heaters/tankless-water-heaters/overview/tankless-water-heaters-ov.htm
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