Hey everyone! We recently bought a house in New York that has an active underground oil tank. The seller is unwilling to remove it, and it seems like a common issue in our neighborhood. The oil is used for heating and hot water, and we had it tested - thankfully, there's no leakage. We're unsure if we should just leave it as is and get oil tank insurance or if we should consider removing it and perhaps moving it to the basement. As first-time homeowners, we're feeling a bit overwhelmed by all the mixed information out there. What do you think we should do? Any advice would be super helpful!
1 Answer
Just a heads up, 'oil' is basically diesel with red dye added. After I learned that, I decommissioned my tank and switched to a heat pump system which also provides cooling in summer. Initially, it cost me around $600 for the decommission and about $5k for the heat pump, but it upgraded my entire home in the process! Got tips for modernizing your place too, which was an unexpected bonus!
Wow, that’s awesome! We’re inclined to go the heat pump route too. Just worried about the cost right now, though.