We’ve been exploring a thankless solution, but the company that quited us said it isn’t a good idea in our area because the ground freezes in the winter. We don’t live in a super cold area, but it does snow a few times a year and it can get into the single digits of degrees Fahrenheit.
A good reason to get one is for endless hot water. We had kids in sports and on Sunday night everyone could shower and run the clothes washer. Now they are out of the house it doesn’t make much sense. We also live in a drought state so hour long showers aren’t an option.
Another reason is space. We reclaimed the water tank space and put in a mud sink.
Reasons to stick with a traditional tank:
The tank can act as a water supply, if you need it.
The upfront costs to add upgrade the gas line and venting are steep.