Did you know that removing an underground oil tank can have multiple benefits for your home and property? It gets rid of a potential fire hazard, but it also opens up space that you can use for other purposes. Here are just a few of the benefits you can expect from removing your oil tank.
If you’re considering removing an underground oil tank from a property, consult with a professional first. They can help you weigh the pros and cons of removal and determine the best way to proceed.
What you need to know about underground oil tank
You may not know it, but if you have an underground oil tank on your property, removing it has some serious benefits. Oil tanks can be a major environmental hazard, and they can also be a financial liability. If you’re thinking of removing your tank, you need to know.
An underground oil tank can be a major environmental hazard. If the tank leaks, oil can contaminate soil and groundwater, which can cause serious damage to the environment. In addition, an old tank can be a financial liability. If the tank needs to be removed or repaired, it can cost thousands of dollars. So if you’re thinking of removing your tank, here’s what you need to know.
The Benefits of Removing an Underground Oil Tank
Most people are not aware of the many benefits of removing an underground oil tank. This is primarily because most people do not even know they have one. However, if you live in an older home, there is a good chance that you have an underground oil tank.
These tanks are typically made of metal or concrete, and they can rust over time. If you have an underground oil tank, it is important to have it removed as soon as possible.
Here are just a few of the benefits of removing an underground oil tank:
Reduced chance of environmental contamination:
Many homes and businesses are equipped with underground oil tanks that store the fuel for furnaces, boilers, and backup generators. While these tanks can be an important part of a property’s infrastructure, they also come with several risks.
One of the most significant dangers posed by an underground oil tank is the chance of environmental contamination. If the tank leaks, the oil can seep into the ground and contaminate groundwater supplies. In addition, an underground oil tank can also rust and crumble over time, leading to contamination.
It is often advisable to remove an underground oil tank before it becomes a liability. When property owner decides to remove an underground oil tank, they can experience several benefits. One of the most significant benefits is the reduced chance of environmental contamination.
More usable space on your property:
Homeowners who have an underground oil tank on their property may be wondering if there are any benefits to removing it. One of the main benefits is having more usable space on your property. An oil tank can take up a significant amount of space, and by removing it, you will open up your yard for other uses.
Improved home value:
Most people don’t think twice about the underground oil tank on their property – that is, until they need to have it removed. An underground oil tank is a potential liability that can cause environmental damage and negatively impact your home’s value.
Fortunately, there are many benefits to removing an underground oil tank from your property. One of the most obvious benefits is improved home value. A study by the National Association of Realtors found that homes with underground oil tanks sold for 9% less than homes without them. In addition, removing an underground oil tank can help protect your family’s health.
Studies have shown that leaking tanks can contaminate groundwater and soil, posing a serious health risk. Finally, removing an underground oil tank can give you peace of mind. Knowing that your home is free of this potential liability can help you relax and enjoy your property worry-free.
Steps on How to remove an underground oil tank?
There are a few reasons you might want to remove an underground oil tank from your property. Maybe you’re selling your house, and the new owners don’t want an oil tank on the property. Or maybe your tank is leaking, and you need to have it removed before it causes any more damage.
Whatever the reason, removing an underground oil tank is a big job. You’ll need to hire a professional contractor who has experience with this type of work. The first step is to locate the tank and then excavate around it. Once the tank is exposed, the contractor will remove the fill and vent pipes and then cut open the bottom of the tank. The oil inside will be pumped out, and then the tank will be cleaned and removed.
Frequently asked questions
How do I know if I have an underground oil tank?
Most homes built before 1950 were heated with coal or oil. As a result, many houses still have underground oil tanks. If you live in an older home, there is a good chance that you have an underground oil tank. However, it cannot be easy to know for sure.
The best way to find out is to contact your local building department. They would be able to tell you if they built your house with an underground oil tank. Alternatively, you can hire a professional to come and inspect your property. They will be able to tell you if there is an underground oil tank and whether or not it is still in use.
What are the risks of having an underground oil tank?
If you have an underground oil tank, there are a few risks to be aware of. First, if the tank develops a leak, the oil can contaminate the soil and groundwater. This can be a major environmental issue, and it can also be expensive to clean up.
Second, if the tank is not properly maintained, it can rust and collapse. This could cause an oil spill, a serious safety hazard.
Finally, if you sell your property, you will need to have the tank removed before the sale. This can be a costly and time-consuming process. So, while underground oil tanks have some benefits, there are also some risks to consider.
How much does it cost to remove an underground oil tank?
The cost to remove an underground oil tank can vary depending on a few factors, such as the size of the tank and the equipment needed to access it.
In most cases, the job will require specialized equipment and a team of workers, adding to the overall cost. The average price for removing an underground oil tank is between $1,500 and $3,000.
If you have an underground oil tank on your property, it’s important to be aware of the potential risks and costs associated with removal. If the tank is leaking, it can contaminate the soil and groundwater, making it costly to clean up.
