One of the first things we noticed about our new home was the loooong wait for hot water - both in the kitchen (just a few feet from the water heater!) and our master bath. In the Master Bath, it could take as much as a minute before the water was comfortable for a shower.
I installed the Grundfos recirculating pump above the water heater and it solved the problem in the kitchen immediately. Hot water in about 3-4 seconds.
Reducing the delay in the Master Bath required the installation of a second mixing valve under one of the Master sinks. Most people don't know you can add multiple mixing valves once you've installed the recirculating pump.
The Grundfos motor takes about 2 bucks a month at current kWh pricing. I'm sure there's a cost associated with heating the water in the pipes under the house, but I really didn't see a huge difference in our electric bill.
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