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I have an opportunity to convert from oil to gas in Levittown, and from what I hear that's relatively rare. It's going to cost me about $8500, and that includes a 95% efficient boiler/water heater combo, all necessary work, two new thermostats and removal of my oil tank.
I'm also planning on moving in 2-4 years. Do you think the ROI is worthwhile or am I wasting my money? My next step is to ask a RE Agent, but I'll start by soliciting the opinion of complete strangers.
We used $1200 in gas in the last 12 months (includes this past winter) so you can do the math... the answer is no you won't get your money back within 4 years unless you've been using a lot of oil. But your house will be that much more appealing and make sure you stress that if you do go ahead. Also there are rebates you should qualify for depending on equipment and efficiency ratings. You can also do 85% efficiency to save if it makes no difference to you. Also get a quote from Holzhauer Plumbing - they are very competitive and do great work.
how old is your current oil burner? A new one is a lot more efficient than an older one and has a longer pay back time and an older oil burner is the last thing a buyer wants to see.
how old is your current oil burner? A new one is a lot more efficient than an older one and has a longer pay back time and an older oil burner is the last thing a buyer wants to see.
True story. We backed away from a house that had one (there were a lot of other things that came up on the inspection, so the ancient boiler was just adding insult to injury).
Gas is cheaper and will likely be very appealing to a buyer. If you can swing it financially, go for it.
True story. We backed away from a house that had one (there were a lot of other things that came up on the inspection, so the ancient boiler was just adding insult to injury).
Gas is cheaper and will likely be very appealing to a buyer. If you can swing it financially, go for it.
I have a brand new high efficiency oil burner. I wanted to switch to Gas as I had a 55 year old oil burner and was researching it. Even had the model picked out. But Sandy took out my old oil burner and to run a gas line and get gas installed was a three month wait for new customers. I needed to get back in my house and it was November.
My new oil burner is more efficient and oil prices have fallen a lot. I dont think it would be a big turn off to buyers.
But my 55 year old oil burner when oil was over Four bucks a gallons folks would get turned off.
But then again lots of folks even have electric heat still in condos on Long Island. And folks buy them.
Don't do it if you're selling. You'll never get that back in the price of your home in this junky market. Just let future homeowner know gas is available. Most everyone shopping in your area expects oil. I'd invest in kitchen/bath upgrades first, going for a Pottery Barn look on a budget, since the wives essentially shop with their hearts. That's just my two cents anyway.
Last edited by LoveBeingAMommy; 03-13-2015 at 03:17 PM..
Reason: Sp
Here's my 2 cents: skip the 95% BS which requires annual maintenance and downsize from your current boiler size after doing a heat loss calculation. The 85% models are maintenance free.
It is very hard to get back any money on that investment in this area. Most people expect oil. Gas may be a perk, but it will probably not increase the value on your home that much if at all. Breaking even staying in the home a few years is probably best.
Do it because you really want to do it for yourself, not because you expect any reward back. You money would probably be better used upgrading a kitchen or bath or doing an extension on the home. That would likely add more value in this area.
I would pay extra for a well-done expanded or nicely upgraded home way before I paid extra for a gas converted home.
My conversion paid me back in about 5 years. It was lucky timing, as oil prices exploded to over $4 a gallon, and I was sitting pretty with a high efficiency gas burner. If you're leaving in less than 4 years it's probably not a worthwhile conversion.
You won't get a dollar for dollar return on that investment. Also, most people who are looking in Levittown are probably resigned to oil, so it might be a nice selling point if someone is making a decision between your house and another equal house. But personally I wouldn't do it if I were absolutely sure that I was going to be out of the house in less than 5 years.
Our conversion paid for itself many times over - it cost us about $3000, and oil was $1.19 a gallon at the time. By the time we sold the house oil was over $3 a gallon. Also, never worrying about deliveries is very nice.
Also if your oil tank is underground, you do not remove it, you abandon it in place.
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