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tankless water heater

I have heard a lot about these things. My question is if i replace my water tank, will this tankless heater go in the same place that the tank was in? what if this is the basement and the water needs to go all the way to the second floor? there will be a lot of uninsulated pipes by the time it reaches the shower. will that have a big effect on hot water?

I like to take long showers, will i have hot water for at least 30 min?



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