Buying a House with an Oil Fuelled Furnace

Posted on August 8, 2008 
Filed Under Buying Your New Home, The Ottawa House, Valerie Zinger

If you are looking at homes in older neighbourhoods such as the Glebe, Old Ottawa South, Alta Vista and Centre Town/ Golden Triangle, you might find a home that you want with an oil fuelled furnace.  Oil fuel, unlike gas, is trucked to the home and a tank is normally located in the basement where the fuel is stored.  In the past, the tanks were buried outside.  This is now illegal and very costly to remove.  Most homes have had the tank removed and an interior tank installed.

Many people have grown up with oil fuel and have no concerns.  Others find it unsettling to have to remember to have the tank filled and to have a tank of oil in the basement.  With the cost of oil increasing substantially, there are buyers who are planning to convert to gas. 

If you are buying and plan to convert to gas immediately, this reminder is for you.  Ensure that your offer to purchase the home includes the instructions that the owners are NOT to fill the tank before possession.  As a buyer, not only would have to pay for the full tank, as part of the adjustments, but then you will have to pay an additional $500.00 (approximately) to have the tank drained and removed. 

If gas lines have not been run into a rural community, oil is one of the most common heating fuels.  Conversion is not possible until the gas lines are installed. 

Talk to plumbing and heating specialists to find out what kind of furnace is best for you and your heating needs.

Photo credit:  58 E. Mountain Street @ http://www.flickr.com/photos/richspk/2579445904/

Valerie Zinger ~ Ottawa, Ontario ~ Ph. 613-723-5300 ~ Email vzinger@royallepage.ca

Comments

One Response to “Buying a House with an Oil Fuelled Furnace”

  1. RichSPK on August 31st, 2008 1:32 pm

    Hi Valerie! I just noticed my picture was being used here and was pleased to notice that it’s appropriately credited, too. Thanks!

    When my mother recently had to have her furnace replaced she discovered that the oil tank also had to be replaced. In the process, they found that the footings for the oil tank weren’t up to current code, so my stepfather poured new footings for it. The oil company serviceman had to pump the oil out of the old tank into a temporary tank sitting on the front lawn, then he had to cut up the old tank because it wouldn’t fit through the basement bulkhead in one piece. The temporary tank sat on the lawn for nearly a week while they waited for a new tank that would fit through the bulkhead. Finally, the new tank arrived and was installed, then the oil was pumped from the temporary tank into the new tank. What a pain!

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