Does Adding A Fireplace Increase My Home Value?

At one point, many believed that the introduction of central heating would mean the end of the fireplace. And many homebuilders started building homes without one. However, there is nothing like a beautiful fireplace that can turn an ordinary living room or den into a warm and inviting space. The National Association of Home Builders (NAHB) has found that a fireplace still ranks as one of the most requested features buyers want in a home. So, if you’ve been considering adding a fireplace and wondering whether it will increase your home value, the short answer is an overwhelming YES, according to a majority of real estate professionals. 

How Much Value Will a Fireplace Add to My Home?

According to the National Association of Real Estate Appraisers, installing a fireplace can boost your home’s resale value by an impressive 6% to 12%. This can be a rewarding financial decision pays off in dividends, as homeowners can often recover the entire cost of adding a fireplace. The value added, however, depends on several factors:

• Location: A well-placed fireplace in a primary living area, such as a living room, den, or even on your patio or deck, can serve as an impressive focal point and a significant selling feature. 
• Type of Fireplace: The type of fireplace and fuel it consumes can also influence its value. Options range from manufactured wood-burning and gas fireplaces to electric, modern, or custom-built brick or stone hearths from the ground up. Fireplace preferences can vary based on climate conditions and from neighborhood to neighborhood. For example, some areas favor the convenience of a gas fireplace, while others prefer the classic feel of a wood-burning one.
• Home Condition and Age: The overall condition and age of your home also play a role in its value. A new, stylish fireplace in a luxury home can have a greater impact than a low-end, builder’s-grade appliance in a dated property.

How to Maximize The Return On Your Fireplace Investment

Adding a fireplace is a significant decision, and there are several ways to maximize the return on your investment. For example, installing a fireplace in a home with an estimated value of $410,00 will add $24,648 to its property value. ($410,800 × .06). Therefore, a fireplace more than pays for itself.

To ensure you get the most bang for your buck, consider the type and style of fireplace that best complements your home’s architecture and interior design. A beautiful custom-built fireplace with a stone hearth and reclaimed wood mantel can serve as a stunning focal point and a high-end feature in upscale neighborhoods. If a custom masonry hearth is not in the budget, many premium manufactured fireplaces offer a similar luxury appeal. In any case, ensure a certified professional installs it to ensure it complies with local building and fire codes. 

Create Your Perfect Space

A fireplace offers more than just supplemental heating; it’s about creating your perfect space, transforming an ordinary room into a comfortable and welcoming retreat you will enjoy all year long. The ambiance and sensory appeal a fire-burning experience offers can be a significant draw for prospective buyers, helping your home stand out in the market. Fireplaces are a worthwhile investment, enhancing your enjoyment while also increasing their market appeal and resale value.

Ready To Add a Beautiful Fireplace to Your Home? Call Chimney Solutions Today!

Since 1998, Chimney Solutions has been providing award-winning service to our clients from Atlanta and North Georgia, to Chattanooga and the Southern Tennessee Valley. Our trained and knowledgeable staff will help you select the perfect indoor or outdoor fireplace that will add value to your home.