24 Apr 2023 How much value could a fireplace add to your home?
When seeking a new home, there is often a list that prospective buyers keep clutched in their hands to ensure a property has everything they are looking for. The value of a home is not only dictated by its location, surrounding amenities, and number of bedrooms, but also the upgrades and features that are embedded within its walls. Amidst extensions and conservatories that homeowners often invest in to add value to their home, fireplaces can increase the value of a home and yet people often overlook them as an option for improvement. So, how much value can a fireplace add to your property, exactly…?
Can a fireplace add value to your home?
A fireplace can add functionality, energy efficiency, and aesthetic benefits to a home. These factors all contribute to a prospective buyer being interested in your property, and so it’s a good idea to invest in your fireplace to benefit and improve your home. Estate agents have said that having a fireplace in your home can add up to 5% in value, ensuring that your home could receive the amount it deserves from its sale.
Do fireplace types impact the value of a home differently?
The three main types of fireplaces can have different impacts on your home and, therefore, could add value to a varying degree. You might be asking the question… which type of fireplace will add the most value to my home? Let’s find out.
Wood burning fireplace
A wood burning fireplace is a much sought-after feature in a home and has been for years. The benefits of a wood burning stove include:
- Provides a traditional style that many seek when buying a property, giving a rustic aesthetic.
- A convenient source of heat that does not contribute to the electricity bills, focusing on natural materials for warmth.
- Can be indicative of period or historic features that many interior design enthusiasts will value highly, particularly within a listed property.
A gas fireplace is a popular choice for many homes, as they can be connected to a domestic gas supply, producing the image of flames without the danger of real fire. The heat that gas fireplaces produce is able to spread throughout the home, acting as the primary source of warmth. The benefits of gas fireplaces are:
- Requires less maintenance than a wood burning stove – you are able to simply turn on the fireplace rather than building a physical fire.
- There is more versatility in a gas fireplace, being able to place it in multiple locations throughout the home, meaning your fireplace can provide the biggest possible aesthetic benefit. This could also allow you to make the coldest rooms warmer.
As the most modern option, electric fireplaces are very popular, and can be the option that people seek out first. This is especially true with the rise of modern properties. Some of the reasons electric fireplaces can be beneficial in homes and increase value are:
- A decrease in cost to run the appliance, which is a positive for prospective inhabitants and their impending energy bills.
- The lack of real flames is an advantage for families with small children or pets.
- Their modernity gives a contemporary aesthetic, which more and more interior enthusiasts are leaning towards.
If you’re wondering about which type of fireplace to invest in to add the most amount of value to your home, you can discuss this with our expert team of fireplace specialists. Also remember that the decision should be something that aligns with your aesthetic preferences too! To speak to a member of our team at Fiveways Fires & Stoves, call us on 0208 127 4747 or email . We’ll be happy to speak with you!