I have a single pipe steam system that was originally fired by a coal furnace, it’s now fired with natural gas. I am thinking of making the switch back to coal because I live in the heart of the anthracite region (NEPA) and for the for the savings. I know it’s too late for this season so I’m doing my research and maybe in the spring I’ll make my move.
What are banks feelings about financing a home with an “unconventional” heating systems? I don’t want to put myself in the position of having an unsellable house. I’m thinking that maybe a better option would be to go with a coal insert like the Hitzer 503 http://www.hitzer.com/model503.html and keep my conventional system.
It seems odd that in the heart of coal county, coal would be considered unconventional, go figure!
BTW: I have been lurking on the board for the past couple of weeks, lots of good people and information here.
Coal Furnaces and Mortgages
I'm not sure if it can be done with steam but I put my coal unit in series with my oil unit. I call the oil primary even though it's shut off. Besides, if we ever sell the house I plan on taking my coal system with me.
- gaw
- Member
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- Location: Parts Unknown
- Stoker Coal Boiler: Keystoker KA-6
- Coal Size/Type: Rice from Schuylkill County
I am in coal country also and I know houses get sold here all the time with coal heat and people get mortgages on them. I have a friend built new a couple of years ago with coal heat and no mortgage problem. I assume making the switch back is the problem? Maybe a new banker? Maybe it is the current economic problems and the trouble the banks have with credit.
- dtzackus
- Member
- Posts: 288
- Joined: Tue. Jul. 08, 2008 6:36 pm
- Location: Schuylkill County, PA
- Hand Fed Coal Stove: Gibraltar LCC
We have a heat pump which will now stay off until we need a/c in the summer time. We went with a used hand fired unit this summer and really enjoying the heat and warmth of the coal. We also live in NEPA and laugh at all the silly people buying wood pellets at 250 a ton where as I am getting a ton for 160.
My mother-in-law's house has coal for a heating system. She and her husband are retiring in December, they are considering selling their house to get a smaller house, they were told by some real estate agents that people will like the aspect that it is heated by a coal furance and not oil.
Mortgage wise, I have no idea, but with the economy in the "toilet." Who knows. As long as the property's retail value can be proven by an appraisal by a certified agent. You should be ok. When we bought our home, I was here and the person just checked that the heating system was in "good" shape.
Dan
My mother-in-law's house has coal for a heating system. She and her husband are retiring in December, they are considering selling their house to get a smaller house, they were told by some real estate agents that people will like the aspect that it is heated by a coal furance and not oil.
Mortgage wise, I have no idea, but with the economy in the "toilet." Who knows. As long as the property's retail value can be proven by an appraisal by a certified agent. You should be ok. When we bought our home, I was here and the person just checked that the heating system was in "good" shape.
Dan