The National Center for Real Estate Research released the results of a recent study showing on average that adding a fireplace boosts home values by 12%. Nearly 70% of real estate agents polled by Angie’s list stated they notice home values increase whenever a fireplace is installed.
How Fireplaces Increase Home Values
How fireplaces boost home values.
First, fireplaces display a luxurious lifestyle, which includes surrounding an elegantly designed fireplace with beautiful materials and accessories.
Second, both a gas and wood fireplace generate enough warmth to decrease the cost of heating your home.
Finally a fireplace installation enhances the ambiance of a home by making it much more cozy and welcoming.
4 Fireplace Tips to Increase the Value of Your Home
Start with a Budget
Carefully budgeting for a fireplace remodeling or installation project is the first step to realize the maximum return on your investment. Make sure to compare the cost of different materials.
Location, Location, Location
What’s the primary reason you want to add a fireplace? Is it to warm up a room that sees little, if any sunlight? Do you want a roaring fire to greet guests the instant they enter through the front door of your home?
You have to decide why you want to install a fireplace and in return, your answer will dictate where you strategically install the home value-boosting accessory.
Surround it with Elegance
Although adding a fireplace in a home is a value booster, you can accomplish much more by surrounding a fireplace with elegantly designed materials. You can make a room more charming by placing glass and metallic vases on end tables located next to the fireplace. Another item that surrounds a fireplace is flooring material, such as finely buffed teak wood or a tile mosaic consisting of several different colors.
Let There Be Light!
The most visually appealing fireplaces produce a cascade of light colors coming from the logs and reflecting off the materials used to design a fireplace. By adding mood lighting above and to the sides of your new fireplace, you can create any type of ambiance you want. Darker colored mood lighting exudes intimacy, which makes a fireplace ideal for placing in the master bedroom. Brighter mood lighting colors do a great job of generating more energy for the living room.
Let our experts at The Fireplace Club help you to decide.
Call us at 905-597-6033.