Are you considering adding a fireplace to increase the value of your home? You’re in luck: this home improvement project has become a highly sought after commodity in recent years.
According to the National Association of Home Builders, adding a fireplace to your home can increase your home’s value by up to 12%. Any realtor will tell you that homebuyers often rank fireplaces in the home as one of their top 3 desires in home amenities.
Not only do fireplaces serve as a place to hang holiday decor, family photos, or the entry point for jolly Saint Nick, fireplaces add value to your home and attract buyers looking to create their own memories in the cozy, inviting space.
If your home lacks a fireplace, and you are looking to increase the value of your home, adding an energy efficient gas or electric fireplace is the way to go. Here are four ways fireplaces add value (and more) to your home.
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1. Energy Efficient Fireplaces Slash Winter Heating Costs
When you live in a place that has a winter that stretches from October to April, you know what these frigid months always bring: increased heating costs. According to the United States Department of Energy, heating makes up 45% of home energy costs, making it the largest expense homeowners face.
Adding energy efficient gas or electric fireplaces as a source of heat can cut the cost of heating a home. Modern energy efficient models retain a higher percentage of heat when compared to a classic wood burning fireplace.
Wondering which fireplace is the most efficient? Take a look at this information gathered from the Environment Protection Agency on the most efficient types of fireplaces:
| Most Energy Efficient Fireplaces | Least Energy Efficient Fireplaces |
| Ventless Gas Fireplaces: Gas-burning fireplaces emit heat with 100% energy efficiency and are eco friendly. Ventless gas-burning fireplaces can heat up to 1,000 square feet of living space for minimal cost. | Wood Burning Fireplaces built prior to 2015: Even with the best maintenance, these models may lose up to 90% of their heat up the chimney. They also lack an efficiency number due to their production date. |
| Electric Fireplaces: These rising stars of the fireplace world also emit heat with 100% energy efficiency and require next to no cleaning and minimal maintenance. These models can heat up to 400 square feet of living space with no harmful emissions. | Wood Burning Fireplaces with no insert: These wood stoves will heat minimal space without a modern insert to ensure the circulation of heat. Inserts prevent loss of heat, so if your existing fireplace is lacking one, you could be losing money up your chimney. |
2. Fireplaces Add Value To Your Home And Homebuyer Interest
While it may seem costly to add a fireplace to your home, these popular amenities attract buyers and increase your home’s value. Homeowners frequently recover 100% of their investment upon the sale of their home.
Lack of a fireplace in a new home is often a deal breaker for potential homebuyers. More than three quarters of buyers admit they are looking for a fireplace in their new property. Not only that, real estate agents suggest that multiple fireplaces are rising in demand.
While fireplaces in the family room are most commonly sought after, more than half of homebuyers reveal they would enjoy fireplaces in multiple rooms, such as guest bedrooms, living rooms, and master bedrooms. Not only that, multiple fireplaces increase the resale value of your home.
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A beautiful fireplace will increase the value of your home and help keep your family warm. Learn more today!
3. Fireplaces Come In A Variety Of Styles To Suit Every Taste
Renovation projects are tough. You want to make sure whatever you are investing in will not only be functional, but visually pleasing. Fireplaces do more than provide heat and value. They are pivotal to creating a pleasing aesthetic for your living space. Different types of fireplaces are available to suit your home decor.
Modern fireplaces go beyond brick facades. They feature glass doors and a variety of tiles and stone. If your home isn’t suited for a traditional fireplace, modern fireplaces are the answer to adding style and warmth to your home.
Fireplaces can have mantles to hold your precious family items or clean lines that blend into existing architecture. The mantles are the centerpieces of family photos, so they are one of the most visible areas of your home.
4. They Exude Luxury And Ambiance For A Comparatively Small Price
Watch any episode of MTV Cribs or an influencer’s Instagram story and one feature will be the centerpiece of their home, no matter where their celebrity originates: you guessed it, the fireplace! Fireplaces have long been associated with wealth and luxury as the centerpiece of any gathering space.
In addition to adding value and style, fireplaces send a message of opulence that elevates your home. In the past, custom fireplaces have been exclusive to the rich and famous. Fortunately, there are many companies that will work with homeowners to customize a fireplace that is right for their home and their needs.
Gone are the days where you need to choose between form and function: custom fireplaces are beautiful and functional.
Add An Electric Or Gas Fireplace To Your Home Today!
As you can see, adding a fireplace to your home not only creates a warm and comforting ambiance. They are a hot commodity that provides a solid return on investment and attract multiple buyers when needed. This home renovation project will increase your home’s value and set the stage for gatherings.
R & T Services can help you determine which fireplace is the best fit for your home. Visit our virtual showroom to see all of the options we have to offer, as well as customize your own fireplace!
Now Is The Time For A New Fireplace!
Our team of fireplace experts are standing by to help you install the fireplace of your dreams. Contact us today!
Fireplace FAQs
Can a fireplaces increase my home value?
Yes! A fireplace is the perfect edition to any home because a fireplace can improve the value of your home by $1,000 – $5,000!
Are fireplaces out of style?
No- fireplaces are more popular than ever for homeowners looking to add elegance and beauty to their home. You can install a new fireplace to reduce your energy bills and make your home look its best.
Is a fireplace worth the money?
If you want to improve the value of your home then a fireplace is a great option to upgrade your home amenities.
