Home Selling in Sparta>Question Details

Domenica, Home Seller in Roseland, NJ

I have a very old oil heating system and want to sell my house in the next year. Should I replace it with a gas system?

Asked by Domenica, Roseland, NJ Tue Jul 24, 2012

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Diane Vanvliet’s answer
Hi..

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
1 vote Thank Flag Link Tue Jul 24, 2012
Is the heating system functional as-is? As my colleage questioned - is there duct work and what kind of air conditioning system do you have? My gut feeling without seeing the home and just going off your succinct question is no. If the unit is functional and you just want to replace it to sell, that can be a major expense that may not need to occur. Since you are asking the question, you know that it may need to be done to sell, but I would advise you to be prepared to replace, but don't do it unless you have to.

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.
1 vote Thank Flag Link Tue Jul 24, 2012
I would. As the price of oil goes higher and higher more and more buyers are looking for gas heat. The other thing is, does the home have central air? Does it have duct work for forced hot air heat? Central is another feature that buyers are insisting on more and more. A home with window air conditioners or through the wall air conditioners will just not bring the price that a home with central can command. If Central air is not an option, consider one of the new systems where the unit hangs on an interior wall and is connected to an outside unit. These do not have to be vented and the appear to be a wonderful alternative to central air. I am seriously considering installing them in my own 1890s home next year.
1 vote Thank Flag Link Tue Jul 24, 2012
Hi Domenica
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
0 votes Thank Flag Link Wed Aug 22, 2012
Hi Domenica,

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.
0 votes Thank Flag Link Sun Jul 29, 2012
Oil is expensive, dirty, and much less efficient....I would probably replace it....though a market analysis from a local realtor would be wise..they can ascertain the value it would add to the property when you do get ready to sell....and would cost you nothing!
0 votes Thank Flag Link Tue Jul 24, 2012
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