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Question DetailsAsked on 6/1/2013

what is the cost of installing a new oil tank in the basement of a 2000 sf home in Massachusetts

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6 Answers

0
Votes

The primary costs can be broken down like this:

1) new tank - 250-330 gallon normal size range, about $1.50-2.00/gal capacity, so about $500-700 tank cost, fuel fill line replacement and filters replacement if needed about $100-150 more. If double-walled tank with leak alarm then about $500-600 more. Indoor tanks fail by corrosion from the inside out from water sitting in the bottom of the tank, so a double-walled tank provides a hollow space between the two tank layers to hold the liquid if it leaks. Alarm sounds if outer tank gets any liquid in it. Another alternative if you figure any leak will start small before getting carried away (the usual case, but not guaranteed) is a composite FRP or concrete catch basin under the tank that can hold 50-100 gallons and has an explosion proof liquid alarm. Of course, unless the alarm is hooked up to a central alarm provider, that does not help if you are away for a number of days when it happens to leak. These measures can help avoid a leak that penetrates under your house slab, which can commonly run $25,000-60,000 to remediate.

2) access - this is the big variable. If you have a hatch, ramp, or oversize door designed to allow easy tank replacement, then $0 additional. If a hole has to be cut in the wall or foundation to allow access, can run $1000-2000 or more.

3) dispose of existing oil and sludge in tank. Occasionally a heating oil distribution company, if they are doing the installation of the new tank for you, will take the oil away for free, to be filtered and used for industrial heating oil or to be sold to a refinery for reprocessing - if so, then $0. They will NOT buy it back from you, because of the contaminants that are likely to be in your tank. Otherwise, if disposed of as waste oil, about $1-2/gallon disposal fee with a minimum of about $100 for the visit, depending on local oil recycling vendor distance. Check with your local waste disposal agency (solid waste services or such name) - some counties also have programs to take unused heating oil from tanks for free

4) dispose of old tank - $200-300

4) installation - about $500-800 on existing cradle or pad, or about $800-1200 including new base/pad, if needed (usually not required on concrete slabs)

5) this one is commonly forgotten about - refill tank - assuming $3.70/gallon, about $900-1200.

One additional thing to consider is the possibility of leasing your tank - many oil distributors will change out you tank for a new one, that is then charged to you on a monthly lease basis, prorated over many years. However, if you are planning on selling the house soon, that presupposes the buyer will be interested in assuming the lease agreement, rather than converting to gas. And of course it will probably tie you to that oil provider for the lease period.

Answered 3 years ago by LCD

0
Votes

Seems like these prices are way off. I was quoted $2300 - $3330 for a new tank and installation of hoses from tank to oil burner through ceiling. This does inclide taking the tank away.

Answered 1 year ago by dannesilva

0
Votes

December 2016

I live just over the MA border in CT in a home this size. Just had a quote done today to replace my existing (and VERY old) 275 gallon tank. The tank is located in my basement and it does not meet current CT code (no "whistle" on the breather, breather pipe too small in diameter). I do have a hatch to the outside from the basement, making the in-out process pretty easy.

The quote I was given for a new 275 gallon tank, installed and ready to use, was $2,850 plus CT sales tax (6.35%). The price included:

- pumping out my current tank of usable oil into a temporary storage tank

- removal of the old tank

- install of the new tank and appropriate piping to the outside (my house is made of brick) - returning my stored oil to the new tank

- disposal of the old tank and accumulated sludge

- a basic tank-mounted gauge


Was told to expect the job to be 6-8 hours from start to finish.

Answered 5 months ago by PJL44

1
Vote

I live off 128 west of Boston. I had a standard 275 gallon tank in my basement replaced for $1650 + $100 permit fee. They basically removed and replaced everything in about 3 hours. This included the most basic tank, repiping to exterior to meet code, new filter and copper line to burner, and saving existing oil (they pumped through filter to a holding tank, then into new tank). Ours was an easy install - no doorways that were too small, etc. Emergency fee would have been $650. The company that did it is in Wakefield (first google result for "oil tank replacement Wakefield")

Answered 3 months ago by dwimagine

0
Votes

to dwimagine...

is the company CommTank of Wakefield? I need to have urs replaced. Thanks!

Answered 2 months ago by OFDgirl1970

0
Votes

Yes, we used CommTank. Everything went smoothly with them. They're very professional.

Answered 2 months ago by dwimagine




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