Propane is a top fuel option that is growing in popularity each year. It fuels countless industries and is also useful in many ways on the homefront — including heating a home.
While propane is a desirable commodity, how does it impact your home’s value? Does having cylindrical white tanks beside your siding or hidden behind your garden boost or lower your home’s market value?
What Increases a Home’s Value?
Many different factors and conditions can impact whether or not a home is a desirable property to purchase. However, only certain factors move the needle on what a home is worth. Experian condenses this into five categories:
- Price comparables
- Your neighborhood
- Your home’s age and condition
- Your property size
While there is room for nuance, something as minor as a propane tank won’t massively affect the value of a property one way or the other. Nevertheless, a propane tank can still factor into your home’s worth.
How Does a Propane Tank Help a Home’s Value?
Installing a propane tank for your home can still positively impact your property’s value. This is because a propane tank indicates several key selling points that motivate buyers to submit an offer.
Propane Serves Multiple Functions
From a propane heater to a range, a furnace to a fridge, you can use propane in a variety of ways. The sight of a propane tank indicates your home can rely on this multi-faceted fuel for many different appliances and HVAC needs, whether you’re using a stove for cooking or a propane tank heater to stay warm. The appeal of a propane-powered generator is often on a buyer’s wish list.
Propane Tanks Indicate Energy Efficiency
Propane is a great way to heat and run your home without being environmentally harmful. The oil and gas byproduct has low greenhouse gas emissions. In addition, a propane tank on your property shows your home is set up to be more versatile due to an efficient fuel source.
Propane Is Affordable
In a world looking for affordable fuel, propane stands out as an easy way to cut heating costs that come with an alternative option like oil. Propane can ensure warm air flows during the cold months and keep appliances running all year. You can also trust a well-established provider like Paraco Gas to provide competitive rates, no matter when you fill up your tank. The ability to tap into an affordable fuel source is an important factor for home buyers shopping in a tight economy.
Your Propane Tank’s Relationship With Your Home’s Value
Just because a propane tank can increase the appeal of your property doesn’t mean you want to show it off. It’s best to conceal your tank in an inconspicuous corner of your home’s exterior. You may even want to bury it to keep it out of sight.
Regardless, don’t shy away from installing a propane tank to improve your home’s sellability. Whether it’s a permanent purchase or a temporary propane tank rental, having the item on your property sends the message that your house is ready to function fully at peak efficiency and affordability.