Ours water heater is over then years old and showing signs of dying, so I’m trying to find out in advance about the option to go with a “tankless” water heater (aka a “Mr. Coffee” type heater).

Details: We have three more-or-less adult people living here, two of whom shower pretty much daily, plus a dishwasher that runs once a day and of course all the regular dishwashing by hand. Laundry is four or five loads once per week. We live in the NE, north of New York and south of Boston, and have gas plumbing. House is basement and two rather tallish stories, with the main bathroom upstairs.

We want to take out the existing heater and put a tankless (if possible) in the basement. Supposedly lower energy costs, and “endless” hot water.

Has anyone here got any experience with these things?