Oil Heat - an item of functional obsolescence

[Riick]

Recently did an REO that had oil FWA heating system.
As for me, given the price of diesel / heating oil, there is no way I would buy that house
unless I factored in the cost to convert to heat-pump + probably propane as a backup in my offer.
I was thinking that the average buyer might feel the same way.
Anyone else with an opinion, or g-d help us some hard data??

 

[Andy Taylor]

No hard data but have noticed that rentals houses that we own with oil fired furnaces are becoming more difficult to rent. We have started to bite the bullet and convert them over to heat pumps.

 

[Mike Garrett RAA]

Not common in MY MARKET.

 

[Mike Kennedy]

I was thinking that the average buyer might feel the same way.

closed sales retro 2 yrs {including new homes} and active listings.......will tell u market demand/reaction.

 

[Tim Schneider]

Oil heat still very common here. New oil furnaces are some of the most effecient of all forced air systems. The heat they produce does not seem as dry either.

 

[Mr Rex]

You obviosuly haven't priced propane lately if you think oil is so high as to create obsolescence. I paid 349.9 a gallon for LP in December.

 

[RSW]

My house is heated by natural gas. Ouch! dont' think it would make much difference around here since natural gas is so common.

 

[OSU Beavers]

We have lots of these http://www.valleypower.com/monitor2400.html?productid=Monitor2400&channelid=FROOG around here.

 

[Riick]

Oil heat still very common here.
New oil furnaces are some of the most efficient of all forced air systems.
The heat they produce does not seem as dry either.

Tell me more!
A friend of mine who has an OLD oil FWA system was told by heater guy that
max efficiency available for oil is around 85%, so do not bother to modify current system.

 

[The Dog]

Just ordered 300 Gallons of Oil for next winter heat. That will run from September to April/May. Price is $4.45 per gallon for a total of $1,335 for the period, or $5.56 per day for two Monitor heaters heating a 3,800 sqft three story home. I cannot find anything more fuel efficient than the new monitor heat. Power is inexpensive on the west coast, but before I ran the monitor heating system, my average power bill was over $400 a month. Now we are down to less than $100 on average.

For me not having oil heat would be a functional problem. I guess it depends where you are located to determine if it is a functional problem or not

Just for Fun. Filled the propane tanks for cook stove today at $3.75 per gallon.