When it comes to the kinds of remodeling projects or home additions that bring high ROI and add to your home’s value, many people rightfully look to common value-add areas like kitchens and bathrooms. But as recent data shows us, there’s a specific item you should be adding to this list if upping your home value is a major desire: A fireplace.
At Comfort Solutions Fireplace, we’ve helped numerous clients improve both their home value and their comfort and aesthetics with one of our modern fireplaces, with a variety of new fireplace options both inside and outside your home. Let’s look at some of the data when it comes to the way fireplaces add value to a home, plus some of the important areas to consider if this is your priority during fireplace installation.
For starters, there are numerous pieces of recent research that back up the idea that when you install a fireplace in your home, the home value goes up by an even greater amount than what you spent on the fireplace installation. One is from the National Center for Real Estate Research, who concluded recently that fireplaces have a “strong, positive” effect on home selling price before and after installation, tending to add an average of about 12% to home value.
Some of the other added home features that tend to provide strong value include:
- Central air conditioning upgrade
- In-ground swimming pool
- Garage space
- Nine-foot ceilings
- Wood floors or carpet
- Upgraded stone countertops, such as granite or quartz
When Fireplaces Come Up
While every home sale situation is different, many of them tend to go in somewhat standard order. First and foremost, prospective buyers will identify the neighborhood they want to be in and the general value range for homes they can afford, narrowing in on a few good choices based on these broad factors.
At this point, most buyers begin delving into the details more closely. They enjoy modern and updated kitchens with strong appliances, clean and classy bathroom spaces, and various upgraded features – fireplaces, pools, tall ceilings, wood floors and others of this nature.
Inviting outdoor spaces are also a major value-add on the real estate market, and you can kill two birds by one stone here by maintaining a great space plus considering one of our many outdoor heating options, including fire pits and tables. This combination will be extremely attractive to many homebuyers.
Maximizing Fireplace Value
Finally, if you’re showing the home and looking for the best possible return, it should go without saying that you want to make the fireplace and all other visible areas as pleasing as possible. Clear the fireplace of any debris or blockages and ensure it’s working properly if you have not turned it on for a few weeks or months, allowing it to serve as an eye-catcher just how it was designed.
For more on fireplaces and home value, or to learn about any of our custom fireplace options, speak to the staff at Comfort Solutions Fireplace today.