Fireplaces are one of the most desirable features when buying a home. If you own your home or are considering buying and you’re wondering if a fireplace will add to the value, the short answer is yes. It is possible to see a return on the investment of installing a fireplace. There are several details to work out first, however.
How a Fireplace Adds Value to Your Home
A fireplace can add value to your home in several ways:
- Fireplaces can add to the real estate value of a home
- Fireplaces have been shown to help people socialize more
- Fireplaces can improve home efficiency
- Homebuyers often search for houses with fireplaces
- Multiple fireplaces can increase the value of a home
Factors That Affect the Value
When installing a fireplace in your home, there are many factors to consider, especially if you’re looking to maximize the value add. You’ll need to think about installation cost, location, upkeep cost, operational costs, and type of fireplace.
Gas vs. Electric
Gas and electric fireplaces have several advantages in common. They’re both budget-friendly, being generally more affordable than a wood-burning fireplace. Neither would require the installation of a new power supply, as long as you have a gas line and/or electrical capacity. Electric fireplaces don’t require the installation of venting as gas fireplaces do. Plus, electric fireplaces rank a bit higher in terms of safety.
Either way, both could add significant value to your home.
Wood-Burning Fireplaces
A wood fireplace, on the other hand, offers what a gas and electric fireplace can’t: a real, crackling fire. While not much else can match the nostalgia and ambiance of a real wood-burning fire, they do require more work and make more mess.
For the right buyer, a wood fireplace will be more valuable than a gas or electric unit.
Add to Your Home with a Fireplace
Whether you’re looking to add resale value to your home or add to the comfort and warmth, you can’t go wrong with a fireplace. It’s important to select the right one for your home and preferences. When it comes to making this decision, you don’t have to do it alone. Our fireplace experts can help you every step of the way.
Get in touch with us today and see how much value you could add to your home!
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