We are thinking of switching to propane heat from electric. Will that effect the value of our home? Are buyers afraid of propane tanks?

Asked by Concerned Owner, Avon, CT Sat Jan 7, 2012

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8
Scott Godzyk, Agent, Manchester, NH
Sat Jan 7, 2012
In New England more buyers are afraid of the high cost of electric heat than prpopane. The key with propane is NOT to bury your tanks.
Web Reference:  http://www.ScottSellsNH.com
1 vote
Nora Moore, Home Buyer, American Fork, UT
Thu Apr 30, 2015
I agree with Scott that you might want to not bury the propane tank. They have to dig up your yard and if you ever want it removed, they will have to do it again. It is nice to not spend as much on your heating, though. It depends on the buyer, but most people want to get a good deal and propane is so widely used, that it shouldn't be a problem for people. I'd talk to your realtor, though, and see what they think. http://www.stonypropane.com/our-services/residential/
0 votes
Cynthia Kung, Home Buyer,
Tue Sep 11, 2012
In my opinion, electric heat costs far exceed my concerns about propane safety. Once I see that a listed home is electric heat, I skip over it as a viable option living in the Northeast.
0 votes
Brent Bell, Agent, West Hartford, CT
Sun Mar 4, 2012
Almost every serious buyer who likes a property asks 3 questions: What is the price? How long has the property been on the market? What were the heating costs last year? Since there is almost a universal fear on the part of buyers that they will have a tough time making payments in the first year, the lower your heating costs the more they can afford to pay in purchase price.

There are always a few buyers who are scared of oil or natural gas or propane, but there are far more who are afraid of having a huge electric bill for heating their new home.

Good luck with your sale process. Considering a conversion to propane is a wise direction to explore!
0 votes
Tom Lynch, Agent, Great Barrington, MA
Sun Jan 8, 2012
Dear Concerned Owner,

In nine years of selling real estate, I have found the majority of buyers prefer propane over electric or oil. And there is no reason for a propane tank not to be buried by a professional. Large propane tanks can be unsightly so burying it may be a good solution.

Good luck!

Tom Lynch
Associate Broker, Massachusetts, New York and Connecticut
Berkshire Property Agents
12 Railroad Street
Great Barrington, Massachusetts 01230
0 votes
Odalys Bekan…, Agent, AVON, CT
Sat Jan 7, 2012
I have found that many times my buyers will skip seeing the homes on our lists that have propane heat and electric heat a like. It is still not a desirable choice.
0 votes
Seth Winklem…, Agent, Bristol, CT
Sat Jan 7, 2012
I agree with Scott, make sure you OWN your propane tank. You are then able to shop around for the best rates. I would keep detailed info on how much you are spending. This can be a great selling tool. If someone sees that you are paying 1000.00 less(just a number I made up) a year than someone with Natural Gas or oil, that may be a deciding factor towards purchasing.

I would also work on insulating your house, and getting it as energy efficient as possible. There are companies that will do an energy audit to help. Here is CL&P's service http://www.cl-p.com/home/saveenergy/rebates/homeenergysoluti…
0 votes
Seth, you are correct in saying make sure you own the propane tank. Nevertheless in the State of CT, there are some propane providers that are overcharging home owners for propane let alone monthly lease on the propane tank. George Gombassy the CTwatchdog brought the light these practices of the propane providers. See CTwatchdog.com
Flag Tue Apr 24, 2012
Christopher…, Agent, Tarrytown, NY
Sat Jan 7, 2012
Hi, propane is pretty popular in some areas where I live. I find that many buyers shy away from electric heat because they fear their bills will very expensive. I recommend gathering whatever info you can about propane so if there is ever a time it becomes an obstacle for your potential buyer you can educate them on the benfits. I think the main cause for fear is the unknown.

Sincerely,

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
914.406.9023
0 votes
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