...using 700kwh a month water usage for 3 of us.
You saw our usage above, about 130 kwh/month for 2. Someone is spending lots and lots of time throwing hot water down the drain from the shower, or washing lots of clothes in hot water when cold water will do, or simply turning the hot water faucet on and coming back tomorrow. I guess you pick the ways you want to spend money that otherwise could be saved for an earlier and better retirement, or funding the college education, or investing in property or a business. And what about just conservation? -- good, clean water is something taken way too much for granted. Either you consume it and it is gone, or you invest it in a future opportunity.