The New Jersey real estate market is a turbulent one. There are many factors that play into a home’s value that don’t matter in western and southern states. At the turn of the century oil tanks were used as a heating source for homes in New Jersey and all throughout the eastern part of the country. However, these tanks have a lifespan of roughly 100 years. Today oil tanks are leaking and causing a plethora of troubles to homeowner’s that can take a big bite out of a home’s resale price. This is why soil testing NJ companies that perform oil tank removal services are so popular and offer real estate buyers and sellers peace of mind.
Soil Contamination can Kill Your Home’s Value
When petroleum and other toxins leak into the ground and contaminate the soil, the land can become infertile. Dead soil that can’t grow crops or even grass can decrease a home’s value by as much as 10%. Buyers are also hesitant of contaminated soil due to the unknowns in how this could impact the health of the family and pets. If you have had an oil tank removed be sure to get a certificate from the soil testing NJ company stating that the ground is clean and safe from potential tank leaks. If the property has a well, buyers may ask for soil testing to be performed as a condition to the sale, as leaking oil tanks are known to contaminate well water. By phoning a New Jersey soil testing service provider you can ease the minds of buyers by letting them know the ground is sound as a pound!
Oil Tanks Scare Homebuyers
If an oil tank is known to exist buried on a property, nobody in their right mind will want to pay full asking price unless the tank has been removed by a certified oil tank removal company and then followed by a soil test. If left ignored, oil tanks can leak to the point that expensive soil remediation services are required. And if the contaminants find their way into groundwater, the cleanup can be even more costly. If you have an oil tank on your property, get it removed so you can demand full asking price from buyers.
Old Homes in New Jersey Give Room for Concern
Victorian and old farm houses are trendy right now thanks to all the home improvement shows on TV. Buyers are foaming at the mouth to scoop one up and remodel it to give that cool blend of rustic and modern. However, the New Jersey market is a bit different. Because oil tanks were commonly buried on properties with homes that date back to the 1880s to the 1920s, people are afraid to pay the high sticker price on a home that might have a buried oil tank. If you have an old charmer of a home and hope to get full asking price, get an oil tank inspection crew to come out and sweep the property for any sign of one. Your certificate that the land is clean from oil tanks will make your property more attractive to buyers!