A hot water system includes a hot water source; a hot water delivery line connected between the hot water source and at least one plumbing fixture along with a cold water delivery line connection between said plumbing fixture, a cold water source and said hot water source; a pump, interconnected between the hot and cold water delivery lines, enables circulation of water from the hot water delivery line through the cold water delivery line and into the hot water source, thus eliminating the need for a separate recirculation line. A thermostatic valve is disposed in a serial arrangement with the pump between the hot and cold water lines for blocking flow of water from the hot water line into the cold water line when the pump is not operating.