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I'm considering various options not only to save resources, but also to make the wife happy. If instant hot water only costs an extra $1/mo, then it would be worth it to give my wife hot tea the moment she wants it. It also makes washing greasy dishes easier to hit it with some hot water. It wouldn't be worth it to me if it cost an extra $5 in electricity though.
A recirculating pump or an instant heater run about $150.
As rooster mentioned, the water is cheap. It's the convenience I'm after.
Ultimately, I think I'll wait until the gas heater in the garage dies and then buy a tankless unit and mount it in the crawl space.
Cobb- My crawlspace is a max of 4ft. 2/3 of it requires army crawling, perhaps 1.5 ft of space... annoying enough that I haven't finished wiring my surround speakers in the living room.
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