Another more efficient but more expensive way of heating space and water for domestic use. But this is an investment that will pay for itself.
Tankless water heater:
By heating the water only when taps open, you stand to save $200-600 in natural gas bills. Water heater tanks need to maintain a temperature of at least 140 F to prevent mold build up inside; meanwhile all tankless water heaters feature corrosion resistant stainless steel heat exchangers that are not only built to last the same amount of time as a tank 10-15 years, but also take up 1/3 of the space a traditional tank would. Lastly, for bigger families with higher demand for hot water, tankless water heaters can provide continuous hot water.
Boilers can provide heating for space through radiators, mediums that radiate heat such as plastic pipes under your floors or copper or iron baseboards. Boilers can also be paired with air handlers in order to transfer heat through a central heating systems which are explained on Central heating and cooling section