Does a Fireplace Add Value to a Home? You Better Believe It!
Warmth on chilly nights, energy cost savings, and relaxing ambiance are perfect (and obvious) reasons to have a fireplace. But as with any investment, you may be wondering, does a fireplace add value to a home?
According to real estate brokerage Redfin, gas fireplaces are one of the top 10 features with the highest sale-to-list ratio.
Let’s explore how fireplaces can be red hot when it comes to adding value to your home.
Does a Fireplace Add Value to a Home?
One way to gauge the return on investment (ROI) on your fireplace is to see what people in the real estate market are saying about them. And there is a lot of hype around them.
- Listings with fireplaces had the most views (average of 590 each) of the 10 most popular home features. (Redfin)
- In a survey of more than 100 U.S. real estate agents, 68% believe having a fireplace increases a home’s value. (Angi)
The National Association of Realtors suggests making your fireplace a focal point in the staging of your home. This allows potential home buyers to imagine themselves gathered around the hearth, making cozy memories.
Just How Much Value Does a Fireplace Add?
Several factors impact how much bang you’ll get for your buck when it comes to a fireplace. We can’t guarantee a specific dollar figure when it comes to your ROI if you install a fireplace, but generally speaking, the numbers are certainly encouraging:
- Homes with a fireplace are listed for 13% more than the national median sale price. (Redfin)
- A working fireplace with a classic design and mantel can add as much as $12,000 to the value of your home. (National Association of REALTORSⓇ)
A fireplace that is not functional or well-maintained could be a liability if you put your house on the market. A regular chimney cleaning is essential to get the most out of your investment. We have professional chimney cleaners that can help with the maintenance of your chimney,
Beyond Function: Fireplaces Add Flair
Geography may play a role in fireplace demand, but the results are surprising. You might assume that a fireplace is non-essential unless you live in a snowy climate. Think again. Among new single-family homes with fireplaces, the vast majority of them were built in the South.
Whether it’s hanging a stocking or placing family pictures on a mantel, the value of a fireplace goes beyond function. A fireplace doubles as an architectural feature whether or not you have it burning, and can increase the luxurious feel of home.
Fireplaces Can Save on Heating Costs
As energy prices go up, so do home heating bills. There are now more energy-efficient fireplace options including gas inserts and natural pellet-burning fireplace inserts that reduce heat loss through the chimney. If you’re thinking about updating an existing fireplace or installing a new one, visit our showroom to see your options.
Considering a Fireplace? Let’s Talk
If you’re thinking about adding a fireplace or fireplace insert to your home, we’d love to help you find the best fit for your home. Complete our online contact form or stop by our showroom to learn more.