Interresting

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trumpeterb

Member
Jul 15, 2009
110
Western PA
My wife and I are considering a refinance on our house. We had an appraisal conducted last week, and got the results back today. I found it interesting that the appraiser saw my Eko40 boiler and asked about it. I told him what it was, showed him the in-floor radiant heating system that I installed, and we talked about what a great job this unit does heating my house all winter long. We have electric baseboard heating throughout most of the rest of the house, but we never use it. We have a room on the back of the house that used to be a swimming pool changing room, but we have since converted it into a living room. There are no baseboards in this room, but there are in-floor radiant loops tied into the Eko. When I received the appraisal, the appraiser listed the house as electric baseboard heat, and the back room was listed as "unheated." I feel it is amazing that they will not recognize wood boilers as a main source of heat, and they didn't even count the in-floor heat as an upgrade to the house. Amazing....
 
I would call him to the matt for not couting the in floor heat...I agree the boiler is a added value also but its probably customary for banks to disregard it...but

call him up and tell him you had the boiler modified to burn gas. leave out the fact that its wood gas.

good luck and thanks for keeping the economy truckin!
 
That is strange. You, and whoever else ends up in the house, will have more dependable heat. You don't have to rely on oil and it's dependably high price. You have cleaner heat, and a boiler that should last longer than an oil boiler. Strange indeed.
 
The appraiser (may) have left it out on purpose as in most/all cases the presence of wood heat as the primary/only heat source will lower the value of a home not increase it.

Just saying the guy may have done you a favor given your refinance situation.

He cannot state that on paper though, or it all goes "poof".
 
Was it an appraiser or a Realtor? Going through this on a couple of farms and all I can say is that there are some real idiots out there! >:-(

Gary
 
He is an appraiser. After further investigation, ie google searching, I have learned that appraisers will always count solid fuel heating systems as secondary due to the fact that they must be reloaded etc. Hmmm....what about oil fired furnaces or propane? They also have to be reloaded, albeit not as often.
 
trumpeterb said:
He is an appraiser. After further investigation, ie google searching, I have learned that appraisers will always count solid fuel heating systems as secondary due to the fact that they must be reloaded etc. Hmmm....what about oil fired furnaces or propane? They also have to be reloaded, albeit not as often.

Hmmm. Sounds like it is time for you to invent the CW 5000 automatic Cord Wood loader. ;-P You could put your 5 cord of wood in the giant hopper for the season, close it and be done. Now, where can you fit that hopper? :) Have a good one man. And good luck with the home adventure. That is always an interesting experience. I have moved four times in my life. And I hope I never have to move again.
 
I had my home appraised earlier this year. My wood heat setup barely got honorable mention as "secondary" on the write up. It had zero impact on the value of our home in-spite of it's considerable cost and value (in my opinion).
 
The common lazy consumer, and bank firms will not consider wood burning appliances as added value. For the radiant floor to count, and in some cases will boost the value of a home but it has to be a constant supply, IE Natural gas. I would even think that fuel oil or propane will not boost as much as a Natural Gas. Most banks basically see wood appliances as a liability, which is a shame that this world has become so narrow minded.
 
Simple fact of the matter is that unless any heat source is automatically fired via operating controls, as opposed to an operator, it is as if it is not even there.
 
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