Any other cheaper home heating options for a 1500sq ft home that i bought for $80k?

Question

Hey guys!Any other home heating options that is much cheaper than $18k to get a new broiler. That amount is insane! The house is 1500sq. I do not pay for the electricity or gas. What is another option to get heat into the house without breaking the bank. And can i just leave the broken broiler as is or will i need to dispose of it. Property manager just brought out their contracted HVAC company to address the broken broiler and this was quoted. I asked her to get me other quotes or any other alternatives. Still haven't heard back yet so wanted the opinions of more experienced investors.Thank you.

Alecia Loveless · Answer

@Jimmy Lau Depending on how your big the house is I am running small gas Rinaii heaters to my units to get the tenants to pay for their own heat. 10 heaters and all new gas lines throughout a 2 story 4 unit building was about $25,000. If your building would need less heaters it might be less expensive than your quote of $18,000. Also then each room effectively has individual heat control as you can turn the heaters from 0-9. I’m not sure where you are located or how much heat you use but I was spending about $15,000/year in heating oil and my tenants were keeping the heat on 78 degrees in -25 degree weather with their windows open in this one building. I am actually converting 3 buildings total.

Jimmy Lau · Answer

You are absolutely right, I am at their mercy. I am trying to get opinions on ballpark estimate of replacing a new broiler. If i can forgo replacing the broiler, that would be great too. Is forced air system the next best cheap alternative? I dont really care what heating system is used, mainly cheapest the better. How about heat pump? I know there are pros and cons in each heating system. I dont mind paying a little more for one system over another if there is less maintenance and can last longer. My main goal is to make sure the house has heating capabilities so it can be rented out.

Michael Smythe · Answer

@Jimmy Lau recommend you ask for a better breakdown of what you are paying for.How much are they charging for asbestos abatement?Why isn't your PMC providing 3 bids?

Michael Smythe · Answer

@Jimmy Lau if you don't take the time to understand what a problem is, then you open yourself to being taken advantage of.

Jimmy Lau · Answer

Appreciate all the insight. I will get a quote for all those options. I am not sure what is specifically wrong with the broiler other than what the HVAC company came out inspected and quoted. Thank you!!

Michael Smythe · Answer

1) What is specifically wrong with the boiler that requires replacement instead of repair - besides it's easier for the contractor and makes them more money?2) Other options:Forced Air: will require removal of water lines & radiators, replacing them with heat ducts, which will require lots of holes in the walls to run and patching expenses. But, still may be cheaper. Get a bid.Electric Heat: will need to remove old stuff, run 220v lines (110v insufficient power) for baseboard electric heat registers. May be cheaper. Get a bid.Mini-Splits: one head both heats & cools. Expensive and will have remove old and create holes to run new. Probably not cheaper, but get a bid.

Jimmy Lau · Answer

The picture provided is the total pricing for replacing a brand new broiler. It just gives a 11,500 cost for all the listed things they will do. The asbestos abatement is 6500 for a grand total 18000. And you are right, it is only 1 bid. I have asked the PM to give me more quotes and alternatives. My question is should i even try to replace a new broiler and remove the old one? Can i just leave a broken broiler and explore other cheaper heating alternatives?

Scott Mac · Answer

What Model and manufacturer is the equipment? Is the one they are specing the best for your rental business? With forced air systems for instance a carrier system or a trane Has more expensive parts than a Goodman system. And within the model lines there are different price points based on energy savings and local regulations requiring certain things. Have you considered having it replaced with a Forced air system? If you are not an expert on this- you are at their mercy regarding equipment and pricing. Can they install it against the wall instead of in the center of the basement and free up space in the basement to make it feel bigger??? Will they have to go through the basement wall with the flue, or into the old chimney system? Do you care which? Without being an expert in this - you are at their mercy. Good Luck!