My opinion is tankless water heater is a better choice for those people who have a good budget and want a long-term water heater. The tankless water heaters are energy efficient and have fast heat capability as compared to tank water heaters. The annual operating cost is very low because it consumes less energy and has a low maintenance cost.
When I was confused about which water heater is better for me I found a great article on how to choose a water heater -
https://www.chosenrooter.com/water-heater-for-your-san-francisco-bay-area-home-in-2022/ you should read this for more detailed information.
