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On average, a tankless water heater should last between 10 and 15 years. Its lifespan will be affected by how much it's used, the effect of weather where your home is on the unit—colder is harsher and will shorten lifespan—and if the heater is maintained appropriately and regularly. There are many signs your water heater needs to be replaced, so pay attention to anything that changes with your heater or hot water.

Yes, most municipalities have codes that require water heaters to have pans. A pan is necessary when a water heater or hot water storage tank is installed in an area where water leakage could cause damage, such as an attic, second floor, or finished basement. Tankless water heaters are not required to have a pan since there is no storage tank.

An average-sized empty water heater weighs around 150 pounds. Tankless water heaters are much lighter, weighing between 10 and 50 pounds. The smaller size and added convenience come at a price, though—tankless water heaters average about twice the price of their traditional counterparts.

Tankless water heaters are more expensive than those with a storage tank, but they come with some impressive benefits that most homeowners find worth the higher investment. Most importantly, they provide unlimited hot water, so you’ll never run out like you would with a storage tank. Tankless heaters are also more efficient, so comparing gallon-for-gallon, you’ll spend less on hot water with a tankless heater. Tankless water heaters are also smaller, require less maintenance, and tend to last longer than storage tank water heaters.