Many homeowners dream of waking up on a cool Sunday morning and snuggling up with their family by the fireplace, sipping hot cocoa or tea. Fortunately, this dream is becoming less and less unrealistic. However, it's understandable if someone hesitates to invest in building a fireplace. Let's take a closer look at the real value of a fireplace because we're talkingabout an investment that fully pays off and increases the value of our home.
Building a fireplace comes with several advantages. One of them is that it becomes the "official" focal point of the house, capable of imbuing any room with an inviting ambiance. It literally and figuratively makes the space warmer and cozier. But the question arises: do these subjective yet evident benefits ensure a return on investment? The answer depends on various factors, such as:
What kind of fireplace would you like?
Electric and wood-burning fireplaces offer completely different advantages, and accordingly, we can consider different price ranges. In terms of investment costs, wood-burning fireplaces come first, as they are the most expensive, but they are also the most rewarding solution. The nostalgic charm and incomparable ambiance they provide make you forget about the expenses.
Electric fireplaces are a cost-effective, flameless alternative to wood-burning fireplaces. Instead of wood, they use electric power to provide heat and simulate the flames. Electric fireplaces are also portable, so they can be easily taken with you when moving, and their installation is straightforward. The value of a fireplace is influenced by its type, where it is placed in your home, and of course, the location of your home as well.
Why is this important? Because it matters whether the fireplace serves primarily decorative purposes or is also used for heating.
A wood-burning fireplace is more valuable in places with cold winters, unlike in Hawaii, for example. Wood-burning fireplaces are now considered a standard feature not only in luxury homes or various vacation properties. This is not by chance—they are useful and visually appealing. Unfortunately, in recent times, many communities have experienced power outages lasting several days.
How does a fireplace increase the value of a house?
Let's talk about the numbers because you probably want to know how much more your home is worth with a fireplace. According to the National Association of Real Estate Appraisers, homeowners can often expect a return on investment of over 100% when they install a fireplace and sell their homes. Installing a fireplace can increase the resale value of a property by 6-12%.
Did you know that homes with fireplaces receive an average of 550 views per listing? That's more than homes with open-concept layouts or views of bathrooms. So, a fireplace is a good investment whether you plan to sell your home in the near future or decades later. According to a survey by the National Association of Home Builders (NAHB), 48% of homebuyers would like to have a wood-burning fireplace in their homes.
This means that if you install a fireplace, the associated costs can potentially be fully recovered when selling the house, making the property more marketable. Additionally, you can also consider the years of enjoyment with family and friends that the fireplace has provided.
Other important factors
Of course, several other factors determine how much value a fireplace adds to your home. The first and most important factor is your available budget. While a fireplace can provide a return on investment of 100% or more, its cost should be within a range that maximizes the ROI (return of investment).
Don't forget to consider the price of the fireplace, installation costs, and utility fees as well. We can assist you in understanding these expenses with the help of our experts.
From a subjective perspective, the placement of the fireplace is also an important value-adding factor. It's worth considering which room would benefit most from the extra warmth and where the fireplace would serve as the most efficient heating solution. Which space would allow multiple people to gather around the fire? Additionally, you must consider where a chimney can be built.
We cannot overlook the fact that a fireplace is a status symbol that inherently represents value. Besides objective factors, we cannot ignore the fact that a fireplace has a strong emotional impact. We desire a fireplace because perhaps it is associated with our fondest childhood memories or because we want to provide that experience to our own
children or grandchildren.
There's no denying that family gatherings are much more cozy and enjoyable by the fireplace. For example, what could be more delightful than opening Christmas presents with the family by the fireplace? The crackling wood and the dancing flames create a calm and inviting atmosphere where everyone feels comfortable.
The fireplace is an oasis of tranquility, a symbol of homeliness. Many of us seek to provide this unmatched and valuable sense of living through a fireplace.
Is it worth expanding your home with a fireplace?
The answer is clearly yes. It is evident from the above that a fireplace holds a special value, whether it's for any type of home, vacation house, or even a bachelor pad. Even if you don't plan to sell the property, investing in a fireplace pays off over the years, both financially and emotionally.
In addition to providing a secondary heating solution, a fireplace enhances the interior spaces, adds aesthetics to your home, creates a unique atmosphere, and inspires lifelong memories.
Designing and realizing a fireplace is a fantastic journey that even your grandchildren can enjoy. However, it is important to entrust the task to a dedicated and experienced company, as it can save you a lot of money, time, and headaches.
We recommend visiting our showroom in Budapest, where you can get satisfying answers to all your questions. If the possibilities still seem unclear, a conversation with one of our colleagues will surely provide clarity. Increase the value of your home and enjoy the benefits of a fireplace. Even if you're not certain about the decision yet, we welcome you to inquire about fireplace purchases. We look forward to meeting you in person.
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