With costs ranging up to $30,000 for a traditional brick hearth and mantel, adding a fireplace can be a considerable investment. If you’re wondering if you’ll get a return on that investment, the answer is: maybe.
While intangibles such as crackling flames and romantic ambiance may make a fireplace worth the cost, consumer attitudes toward fireplaces have been in flux over the past decade. Here are the facts:
Fireplaces are Trending Up as Desirable Features
The National Association of REALTORS survey of homebuyers’ preferences listed fireplaces as one of the most-preferred home features. Almost 40% of homebuyers said they would pay extra for a house with at least one fireplace.
That's good news when it comes time to market your house.
Match Your Fireplace Budget to Your House
A fireplace isn’t calculated separately in a professional home appraisal, so it's tricky to assign value to your investment in flickering flames.
When you estimate how much a fireplace might add to the value of your house, take into account your home’s overall value. A $10,000 fireplace holds its value in a $1 million house because buyers expect this feature in an upscale home.
But a $10,000 fireplace won't be such a crucial component of a $100,000 house, especially if other essential features that potential buyers consider more important are lacking.
How to Max Out Value
To maximize your enjoyment -- and value -- put a fireplace where you'll get the most use from it: the family room, great room, or kitchen.
For smaller, easy-to-heat rooms such as an office, guest bedroom, or master bedroom, think about a small gas fireplace that's easy to maintain.
Equip your fireplace with energy-efficient glass doors and an exterior venting system that prevents heated air from being pulled out of rooms.
Are you interested in a fireplace? Contact The Fireplace Shop and Grill Center at West Sport in Sudbury.
Source: houselogic.com
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