Real Estate Tips: Does A Fireplace Bring Value To A Home
Whether you are buying, selling, or looking to remodel, you are looking for the key pieces of a home that increase its value. Some features are worth the investment or are ones you should look for in a home, and others are less important. The search for features that add value to a home is often a tricky and confusing one.
One feature that absolutely brings value to a home, especially in place with cold winters like Indiana, is a fireplace. Fireplaces and chimneys certainly require upkeep to maintain, but they are a feature you don’t want to skip out on. Here’s why.
Fireplaces are Desirable
Fireplaces area preferred home amenity. In fact, a fireplace is one of the top three amenities that people love, according to the National Association of Realtors. In their 2013 survey, the National Association of Realtors found that 40% of participants said they would pay extra for a home that had a fireplace! People want fireplaces for warmth, comfort, and aesthetic. The top words people associate with fireplace include cozy, home, love, winter, warmth, and relax.
How a Fireplace Increases Home Value
Homebuyers are willing to pay more for a home with a fireplace. The way fireplaces positively impact a home’s value is quite clear. According to the National Center for Real Estate Research, each fireplace will increase the home’s value by 12%. The same holds true for townhomes, condominiums, and apartments.
What Kind of Fireplace Increases Home Value?
The wood-burning fireplace is still the most desirable in every region, followed by the gas fireplace. Indoor fireplaces have always provided a centralized hub inside a home, but outdoor fireplaces are on the rise as well, especially in luxury homes. Real estate agents think outdoor and indoor fireplaces both can increase the home’s value, and that outdoor fireplaces are a critical selling-point for luxury homes.
Adding a Fireplace
Adding a fireplace is a great investment that will amplify the comfort of your home and offer a sizeable return on investment when you sell. If you already have a fireplace, updating its masonry and staying on top of maintenance and repairs is crucial. For those looking to add a fireplace, some great ideas for location include:
- In the most-used room of your home (family room)
- Your kitchen
- Your office
- Master bedroom
- Installed between two rooms, to be used in both spaces.
Whether you are adding or upgrading your fireplace, the Chimney and Masonry Outfitters of Indianapolis are here to help. A fireplace is a hot commodity for homes in the Indianapolis area, and will transform your home into a cozy refuge from the frigid winters. We will help you increase the value of your home by replacing, maintaining, repairing, or installing your fireplace. Contact us today at 317.500.1250 or OFFICE@CMOUTFITTERS.COM for all of your fireplace service needs.