Don't pass up a good house because you were told to "stay away from oil tanks"!

In the past year I have had 3 separate clients who started out searching for homes with the criteria as follows: At least 3 bedrooms, 2 bathrooms, good schools, close to commuter transportation, and NO OIL TANKS!

All three clients ended up purchasing homes with oil heat.

Obviously, there appears to be alot of misunderstanding and confusion about oil tanks.

One mistake home buyers make is listening to what we call "Arm Chair Experts". Arm Chair Experts can be family, friends, and co-workers, who feel that they are knowledgeable enough in home buying to give you advice. The fact of the matter is, if you really want to be knowledgeable, listen to the experts. The first person that knows more about real estate than anyone, should be your Realtor. Make sure that your Realtor has many years of experience, and ask them about the fears and warnings you are being barraged with by your family and friends.

An experienced Realtor has put many years into selling homes, attending inspections, and learning what's good and not good.

As far as cost between Gas and Oil heat, that would depend on when you are purchasing. There are times when the cost of Oil has risen above Gas, and visa verse.

The stories you might have heard about Oil are the homes that have "Underground Oil Tanks". There is nothing wrong with purchasing a home with an "Above ground Oil Tank".

Underground tanks today are slowly becoming extinct. When purchasing a home today, it would be wise to include in your inspections, an "oil tank sweep". This is when a company will come to the property and sweep the grounds with detectors to make sure there are no hidden tanks underground.

If a house does utilize and consist of an underground tank, they usually are insured and inspected regularly by their oil company. So in purchasing that property you will be assured that the tank is free of leaks and working properly. However, you will want to get an estimate on either removing the tank and placing one above ground, or switching to gas. Even though tanks are insurable now, it really isn't in your best interest to leave it underground.

There are two ways to deal with switching - have the tank removed, or abandoned. Abandoned means, having a certified company come out and drain it and fill it with sand. This, of course, will include inspections to make sure it's done properly and a certificate will be issued.

Underground tanks are not good because if it leaks and gets into the soil, it can be a catastrophe. The law states that once a leak is detected you have 2 hours to notify the DEP (Department of Environmental Protection). This of course, can be a very lengthy and costly process. If the leak travels to neighboring yards, it can be devastating. And your homeowner's insurance policy does not cover this. It can run into hundreds of thousands of dollars.

So NO you should not purchase a home with an underground oil tank and leave it underground.

With that being said, purchasing a home with an above ground tank is fine. Especially today. Companys have developed Steel Enclosures.

So don't pass up the home of your dreams because "someone told you" to stay away from oil tanks.

It reminds me of another misconception in buying a home - everyone requests "central air". Did you know that with central air comes forced hot air (heat)? Did you know that for people with allergies or asthma, this is not the best. Baseboard heat is the best heat you could have for health reasons. Just another tid bit that people don't realize.