I hope you have oil tank insured if it is in fact underground........If it is not insured, contact your provider and have you tank swept.....That is a must..If you tank has a leak it can be extremely costly..When you sell your home with an underground tank,it will be inspected by the future owners. it is imperative you have that certificate..
Having said that it is ultimately up to you wheather you wish to convert to gas...Buyers are a hesitant to purchase if all the above suggestions are not in place.
Good luck to you. Diane. Agent. 732 859 2376
That being said, I would also advise you to contact a local real estate professional before you try to list the home to get a comparable market analysis and have them actually put eyes on your home for more specific guidance on the need for replacement based on home specifics and functionality. Good Luck.
If your heating system is very old it most likely would be flagged during a buyers home inspection anyway, If you happen to have natural gas in your area & are willing to replace your furnace that would definitely be the way to go before putting your house up for sale
If your system is working, I wouldn't replace it. If your oil tank is underground, however, I would recommend removal and replacement with an above ground tank, as my experience is that most buyers in Northern New Jersey are asking for removal. During the removal process, the soil will be tested for possible contamination due to possible leaks of the tank. If all is OK (which it usually is) you have avoided one inspection issue that can tie up or cancel a future transaction.
A home inspection of the heating system by the buyer will identify any issues of concern. One way of helping any concerns is to take out a warranty through your realtor upon listing your property. It will cover most issues for you and for the buyer that might come up. You will need to discuss details and limitations, but it is an important marketing tool as well as a protection for you, with an older house or older systems, should something go wrong during the term of the listing or for the buyer for 1 year after purchase. Again, discuss with listing agent. If it isn't offered, find an agent or real estate company that does provide.
Here is a link to a site that might help you decide: oil vs. gas http://tinyurl.com/c7el32m
Good luck in your decision and with the sale of your home.