Does Adding a Fireplace Increase Home Value?
Homeowners routinely ask the question does adding a fireplace increase home value? The answer to this question is a simple one. Adding a fireplace to your home adds many benefits and an increase in property value is often one of them. There are some key things that you must understand about how this can be the case though.
The addition of a fireplace to your home can provide you with many desirable benefits. One of the most obvious benefits is the fact that a fireplace can help to keep your home warm. It can also provide an upgrade to the aesthetics of your home. There is also the simple joy of sitting in front of a warm fire on a cold winter night. Many positive emotions such as happiness, comfort, and love are associated with fireplaces.
These are all key benefits of adding a fireplace to your home. Beyond this, one of the most compelling benefits is the fact that the addition of a fireplace can increase your home’s value and make it more attractive if you decide to enter it onto the real estate market. Fireplaces are listed among the most desired features by both real estate agents and those looking to purchase a home. Polling among real estate agents has shown that a majority of them have seen an increase in home value when a homeowner adds a fireplace. These points help to illustrate why adding a fireplace can add value to your home.
How Much Does a Fireplace Add to Home Value?
When asking the question does adding a fireplace increase home value, homeowners want to know exactly how much value it will add. Since adding a fireplace costs money in and of itself, it is normal for you to want to know what kind of value you will be tacking onto your property. The truth is that this is a difficult question to answer in a straightforward manner and it depends on how you are viewing the situation.
There is some evidence to suggest that adding a fireplace to your home does not add as much in pure value as it once did, but it can still increase your property value. When it comes to a pure number, you might only boost your home’s value by around $1 thousand. This is not the full story though. As we have discussed, fireplaces are still a highly sought-after feature by real estate agents and those who are looking to purchase a home.
Though adding a fireplace might not significantly increase your home’s value in a pure numbers sense, it can make it a more attractive property if you are looking to put it on the market. To put it simply, the addition of a fireplace can end up increasing your resale value because it will make your property more attractive on the real estate market.
Today’s homeowners want fireplaces. The data shows this quite clearly. With this in mind, it is still a good return on investment to have a fireplace put in. Should you choose to sell your home, it is possible that you could end up recovering as much as 100 percent of the costs associated with the fireplace installation.
Does Using a Fireplace Save Money on My Bills?
Homeowners also want to know if using a fireplace will help them to save money on their bills. The answer to this question is yes it can, though there are some important points that you need to understand regarding the topic.
The amount of impact that a fireplace has on your energy bills will depend on some key factors. These factors include current energy prices, the amount that you use the fireplace, the fireplace’s placement in your home, and the type of fireplace that you have installed.
If you are looking to save money on your bills by installing a fireplace, your best bet is going to be to go with an electric option. These are the most energy-efficient options within the fireplace realm. This is because only one percent of the heat generated by an electric fireplace is lost. An electric fireplace is not connected to the outside of the home and so you are not losing heat in this manner like you will with other options.
Another benefit of an electric fireplace is the fact that they are the cleanest burning option. This means that there is less concern regarding pollutants. When you have an electric fireplace installed, you can use it as a way to reduce the amount of time that you run your main furnace in your home. This can help you to see a reduction in your heating bills.
Should I Add a Fireplace to My Home?
The evidence is quite compelling that adding a fireplace to your home can be a great decision that provides you with many benefits. From increased property value and improved resale potential to the possible energy benefits and the pure joy of having a fireplace to sit in front of, it is hard to argue that it is a good call to have a fireplace added to your home. It is an amenity that you can enjoy for many years and it can be an attractive selling point should you decide to put your home on the real estate market in the future. All of these points are convincing reasons to consider the installation of a fireplace.
Does Adding a Fireplace Really Help me?
The final conclusion that we must reach related to the question does adding a fireplace increase home value is that it absolutely can. It can add value to your home in terms of pure numbers but it also makes it more attractive in terms of its resale potential. Beyond this, adding a fireplace can help you to save money on your bills. You can also enjoy your home more than ever before when you add a fireplace. This is a key way that a fireplace can increase your home’s value for you. All of these factors support the fact that there are a lot of benefits associated with fireplace installation.
To find out more about this topic, you can contact our team here at Fireplace Concepts Inc. We can be reached at (859) 258-2121 or through our website. Our team would love to speak more with you about the many benefits associated with fireplace installation at your home. Give us a call today!