I recently had my 50 gallon traditional tank natural gas water heater fail on me. It cracked and flooded my garage. After the cleanup I called out my go to plumbing company to come give me an estimate for a replacement. I had heard about tankless water heaters and thought since the equipment was around the same price (within a few hundred dollars) that I should consider it so I don't have this happen again.
After he arrived I was given a quote of 1036 for a 50 gallon traditional tank natural gas water heater. I asked for the price of a tankless and it was ballpark 3k to 4500 for the equivalent tankless water heater. He didn't really explain why the price was so much more other than large amounts of work regarding an exhaust? Can anyone explain why the price was so much higher?