Are Fireplaces Still a Hot Commodity for Home Resale Value?

One of the hottest features that buyers look for in a home is a fireplace. This has been the case for decades and stills holds true in today’s market and now includes outdoor fireplaces as well as indoor ones.

Fireplaces have been around since Medieval times and in the 1600s and early 1700s, most fireplaces were constructed to be very wide and deep. They also had open recesses and most were designed without a mantel. Benjamin Franklin then created the Franklin stove in the 1740s that was created from cast iron and produced more heat than the previous styles. They were also placed in the center of the main room of the home and were used for heat.

How Fireplaces Make You Feel

Fireplaces tend to bring a more luxurious look and feel to a house if it suits the potential buyer’s taste. For instance, if the buyer does not care for the older red brick style fireplace, they may embrace a brick fireplace that has been white-washed or tiled. Fireplaces provide a warm and welcoming feeling to a home which is one of the main reasons for people wanting to purchase a home with a fireplace. Many people associate love, coziness, happiness, wellness, and comfort with fireplaces and feel that a fireplace provides a more homey feeling than those without one.

Paying Extra for a Fireplace

Since people will pay extra for a house with a fireplace, installing one is definitely an advantage for a homeowner since it will increase the value of the home in the future. Not only are fireplaces an excellent source of heat, but they are also pretty and add a different look and style to the home’s décor that homes without a fireplace do not seem to possess.

Desired Types of Fireplaces

Besides the look and style of various fireplaces, there are different types. Here is a list of them:

Wood-burning fireplaces are preferred by many people. They love the crackling sound of the wood as it burns and the warm-feeling a more natural version of a fireplace provides.

Gas-burning fireplaces and gas stoves are preferred by those who do not want to have to keep wood stocked up for a wood-burning fireplace. You can have a gas or electric insert installed in an original brick fireplace or have a gas or electric fireplace or stove installed initially. The majority of people seem to prefer the look of the gas insert fireplaces over electric ones and gas burns cleaner than electric ones. It can also go easier on the wallet. The other option is an ethanol-burning fireplace which works the same way a gas stove or gas insert does but instead of using natural gas to function, these types of fireplaces use ethanol.

Outdoor fireplaces are becoming an extra for homes that buyers are considering and they are all there for it. People enjoy using their outdoor fireplace for warmth as they sit outside at night, to cook food on, and to provide an amazing atmosphere for themselves and their guests.

Energy Efficiency

Fireplaces can save a homeowner money on their utility bills. Some people even heat their entire homes with wood-burning stoves that are installed to provide heat through the register vents, just like a furnace. This saves them a ton of money when it comes to gas and electricity.

Fireplace Home Resale Value

A fireplace hot commodity and will increase home value which is the reason that homeowners want one installed. It is also the reason that home buyers are interested in purchasing a home with a fireplace so that in the event they one day sell the house, the resale value will be higher than that of a similar home without a fireplace. Fireplaces definitely add to the home’s value and to the quality of life for the people who live in the home.

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