Results 1 to 8 of 8

Thread: Oil heating a home

  1. #1
    Featured Member CuriousSeeker's Avatar
    Joined
    Nov 2007
    Location
    East Coaster
    Posts
    865
    Thanks
    480
    Thanked 66 Times in 37 Posts

    Default Oil heating a home

    In a month, I will move into a home that I am renting with a friend. I fell in love with the place.

    The kicker is that it is oil heat, which I've never encountered before.

    The leasing agent, M, explained that there are two ways to go.

    First, we could pay as we go, which means we use the heat as we wish, and then we pay for the oil as it is needed for refills. Or...

    Second, we pay a flat rate per month for a year, which gives insurance against oil price hitting highs or having terrible weather.

    M quoted $200 a month when we signed on - evidently from someone he knows.

    Thoughts on handling this and which way to go?
    "Don't piss off a motivated stripper."


  2. #2
    Banned Aniela's Avatar
    Joined
    Jun 2009
    Location
    KW
    Posts
    3,291
    Thanks
    6,920
    Thanked 5,854 Times in 2,242 Posts
    My Mood
    Cynical

    Default Re: Oil heating a home

    I would choose the 'pay as you go' option, use the heat modestly, & supplement w/ a small space heater &/or electric blanket(s) for bedrooms. You can find both for very reasonable prices, & a good space heater, even a small one, can fully heat a medium-sized room quickly & efficiently. Just make sure all doors & windows are properly sealed & you'll be in business. If I ever get back on speaking terms w/ my ex I will ask him what kind of space heater we had in our place when we lived together, since he still has it.

  3. #3
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Oil heating a home

    My house in New York has oil heat. The setup being proposed is essentially a variant of the 'budget plan' offered by electric utilities. It's one and only virtue is 'equalizing' monthly payments thus avoiding big bills during winter months. But this comes with it's own 'price'.

    I agree with Aniela that 'paying as you go' is a better / cheaper option ... provided that you have 'cash' in the bank at all times. 250 gallons at ~$3 per gallon = a $750 'cash' payment to fill your tank. And, depending on the size of the house, how much insulation the house has, and the prevailing cold temperatures in your area, you may need to fill that tank 3-4 times during the heating season.

    Also, signing on to a 'budget plan' commits you to buy from that particular fuel dealer, even though a different dealer may be offering a lower price per gallon. 'Paying as you go' allows you the option of shopping around for bargains. In fact, it is a favorite tactic of certain dealers to cater to 'budget plan' customers with relatively poor credit ... hedging against risk of non-paying customers by charging ALL customers 20-30-40 cents per gallon higher prices.

    Also, if you have 'cash' available, you can time your fuel oil purchases to take advantage of price seasonality by filling your tank when seasonal prices are lower ( like right now ). Some dealers will even allow you to 'advance' purchase a large amount of additional fuel oil ( like 500 gallons ) when seasonal prices are lowest ( like $3 per gallon ), store this oil for you, and deliver it to you as needed through the heating season. This can save significant money versus purchasing 250 gallons now at $3.00, purchasing another 250 gallons in January at $3.50, and purchasing yet another 250 gallons in March at $3.25. Also, for perspective, the 'budget plan' fuel dealer may wind up charging you $3.50 - $3.75 all year long !!!

    Something elses since you are new to oil heat. Watch the chimney for 'black' smoke. This is a sign that the furnace has not been maintained well, and is 'wasting' fuel. If you see 'black' smoke, get on your landlord to bring in a tech to replace your nozzle, adjust your fuel to air mixture etc. Otherwise you might wind up wasting ~20%+ of the fuel oil you will be buying.

    For the moment at least, fuel oil is one of the least expensive ways to heat a home on a $ per BTU basis. But it still isn't 'cheap'. Thus Aniela's other suggestions i.e. a small electric heater for the bathroom or computer desk, an electric mattress pad etc. will allow you to drop the overall temperature the oil heat alone must maintain ... and thus save significantly on total heating costs. A 2 degree lower thermostat setting can save 15% in fuel consumed.
    Last edited by Melonie; 12-04-2014 at 04:54 AM.

  4. #4
    God/dess SnuffleUffleGrass's Avatar
    Joined
    Mar 2009
    Location
    HearstCastle, Rosebud
    Posts
    8,848
    Thanks
    22,676
    Thanked 17,513 Times in 6,696 Posts
    My Mood
    Angelic

    Default Re: Oil heating a home

    Pay as you go, and wall off rooms that aren't being used during the winter.

  5. The Following User Says Thank You to SnuffleUffleGrass For This Useful Post:


  6. #5
    Featured Member
    Joined
    Oct 2010
    Posts
    1,155
    Thanks
    1,422
    Thanked 2,980 Times in 970 Posts

    Default Re: Oil heating a home

    Melonie, that was super informative. I've never used oil heat or known anyone who does, but now I feel like I know all the ins and outs.

    I would do pay as you go. Do you have to purchase the oil through the leasing agent or are you allowed to shop around?

    Space heaters really do work, and efficiently. I know a ton of people with conventional gas heat who use the space heaters to save money.

  7. The Following User Says Thank You to lurkingtitties For This Useful Post:


  8. #6
    Banned
    Joined
    Jul 2013
    Location
    SE TN
    Posts
    278
    Thanks
    148
    Thanked 358 Times in 165 Posts
    My Mood
    Grumpy

    Default Re: Oil heating a home

    Pay as you go would be best since oil prices are currently declining at a steady rate.

  9. #7
    God/dess SnuffleUffleGrass's Avatar
    Joined
    Mar 2009
    Location
    HearstCastle, Rosebud
    Posts
    8,848
    Thanks
    22,676
    Thanked 17,513 Times in 6,696 Posts
    My Mood
    Angelic

    Default Re: Oil heating a home

    Some space heaters use a lot of electricity. This all really depends on your needs. If you live in a small place & layer on clothing, space heaters can work. In fact my dad just uses them b/c he lives in a mild winter climate. However where I live using a space heater wouldn't be as efficient.

    I personally prefer pellet stoves or wood stoves, but it depends on your area whether they are allowed or not...

  10. The Following User Says Thank You to SnuffleUffleGrass For This Useful Post:


  11. #8
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Oil heating a home

    Do you have to purchase the oil through the leasing agent or are you allowed to shop around?
    Unless there is some special requirement under the terms of your specific rental / lease agreement, you should be free to directly purchase fuel oil and have it delivered by one of any number of competing local fuel oil dealers. Call around for price quotes. Also ask about the availability of furnace tech services, in case you encounter a furnace problem when the temperature is below zero !

    However, I have heard of a few instances where landlords in cold regions who are worried about tenants not being able to 'afford' pay as you go fuel oil purchases in the dead of winter ( thus putting the landlord's property at risk of freeze damage ) requiring that fuel oil be purchased through a fuel oil dealer account in the landlord's name. This locks the tenant into buying from the landlord's chosen fuel oil dealer at whatever price they choose to charge, but guarantees the landlord that the fuel oil tank won't run empty potentially causing frozen pipe or other damage to his property ( because the fuel oil company will fill the tank anyhow, and bill the landlord - with the landlord later billing the tenant ).

Similar Threads

  1. Things Heating up in Providence...
    By yoda57us in forum Junkie Club Chat
    Replies: 5
    Last Post: 11-18-2013, 05:40 PM
  2. Booty oil, breast oil, lip oil,
    By rayabradley in forum For Sale & Wanted
    Replies: 1
    Last Post: 08-20-2013, 12:58 AM
  3. Replies: 0
    Last Post: 01-24-2013, 03:54 AM
  4. Replies: 5
    Last Post: 06-19-2010, 07:51 AM
  5. heating rant
    By xbloodydewdropx in forum The Lounge
    Replies: 21
    Last Post: 01-13-2006, 08:55 PM

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •