That is the best way, with two comments. If possible insulate all accessible hot water lines to minimize heat loss. Otherwise the heater wil be running to reheat the cooled water. It will happen anyway, so the utility bill will be higher and the heater will fail sooner, but this will minimize it. And second, install a timer so the pump only runs when you would need instant water. For example 1/2 hour before you get up in the a.m.until everyone leaves for work and then in the afternoon when it is time for showers. This will also help with the utility bill and heater life.: My question is this: If you run from the waterheater to the farthest end of the house with the line, install a T, then go back to the bottom of the water heater, put in check valve and circulating pump, would this work?