Value added by OWB

[Scootermsp]

Any real estate folks out there that could venture to estimate the added value to a home that an OWB provides? I would imagine it would be attractive to some buyers not to have the need to buy oil if they so choose. Does a turnkey OWB added to an existing system add $$$ to an asking price? Thank You.opcorn:

 

[Butch(OH)]

I am no real estate pro but most homes I see for sale with an OWB have them held out. Most sale ads here will say OWB doesnt go, or OWB can be purchased. I think because of the dollar amounts they become an issue with the sale. By that I mean the buyer will say, "dont want the boiler will you knock off 10K?" or possibly because most dont want to fool with wood no matter what it costs.

To answer your question a few would see he OWB as an advantage but I think far fewer nays than yays. In todays market you dont want to discourage potential buyers who do not want to burn wood. I would hold the OWB out of the sale but available for X extra charge.

 

[stephen44]

I disagree - my Realtor neighbor reckons added about 10-15K to mine !. (cost me 9K to install)

The ability to heat by a secondary heat source (primary for me to the heat pumps) and living on 13 acres of wooded land will be very appealing in my area where electricity has gone up 46% this year.

If people do not want to "mess" with it they do not need to use it !

 

[Wood Scrounge]

I posed this exact question to a good friend who is in the biz, he said it's like a swimming pool, it does increase the value but it narrows the market.

 

[Scootermsp]

I posed this exact question to a good friend who is in the biz, he said it's like a swimming pool, it does increase the value but it narrows the market.

Thanks for the info!opcorn:

 

[HUSKYMAN]

Yeah , 98% of the world is lazy and does not want to mess with wood heat. I doubt it would barely add value to some houses.

In my case I think it adds significant value to my home because my home is surrounded by 18 acres of trees, a close wood source. A home on a 1 acre lot would see no value increase IMO

 

[Scootermsp]

Yeah , 98% of the world is lazy and does not want to mess with wood heat. I doubt it would barely add value to some houses.

In my case I think it adds significant value to my home because my home is surrounded by 18 acres of trees, a close wood source. A home on a 1 acre lot would see no value increase IMO

I've got 9.5 acres here and my next lot over has 8.5 acres. Mostly Hardwoods. So for the right buyer it would have a premium. I'm not selling, but this was asked of me by someone considering an OWB. I can say it's real nice that my boiler hasn't kicked on Since Sept 24th.

 

[HUSKYMAN]

I've got 9.5 acres here and my next lot over has 8.5 acres. Mostly Hardwoods. So for the right buyer it would have a premium. I'm not selling, but this was asked of me by someone considering an OWB. I can say it's real nice that my boiler hasn't kicked on Since Sept 24th.

Since you live in the oil burning capital of the world, I would say just about any alternative heat source would add significant value over there

 

[Scootermsp]

Oil Trucks

Lately, every time I see an oil truck go by I SMILE (last year oil bill was just over $6000)