Can a fireplace add value to your home? Find out how the addition of a fireplace installation makes you house more appealing to home buyers.
Will Adding a Fireplace Add Value to My Home?
Increasing the value of your home can be as simple as re-painting a room or as complex as installing new drainage systems; either way, it makes the home more desirable to live in and for potential future buyers.
Fireplaces were a staple in homes for many years; however, the now popular new build houses miss out on this traditional feature.
Over the last few years, a revival for fireplaces can be seen, as people add them into their homes for value increase, decoration and usability.
Installing a fireplace into your home, whether vintage or brand new, can increase the value of your property quite substantially and add an antique aesthetic. So read on to find out which fireplace will fit best in your home!
How do fireplaces add to the value of a home?
Fireplaces can add a lot of value to a home, owing to their functionality, energy-saving and aesthetic capabilities.
Adding this now desired feature proves beneficial for the current homeowners and future buyers. Read on to find out HOW a fireplace can add value.
Depending on the options available for your home, a fireplace can create a vintage, cosy or modern aesthetic. Similarly, a tired gas appliance centre stage in your home can reduce the attractiveness and value for potential buyers.
As the fireplace crackles, it creates a relaxing ambience and organic kind of warmth. Further, adding logs to your fireplace increases the aesthetic aspect.
Traditional fireplaces may be beautiful, but often they come with a poor EPC (Energy Performace Rating) as regulations become increasingly strict. A poor EPC rated fireplace will cost you a hefty sum in the short and long term, in addition to putting off potential buyers unprepared to replace the energy-guzzling feature.
Although there are a few tips and additional features that can increase the energy efficiency, for instance, adding a cast iron fireback can help get more heat out of the fireplace.
Adding a newly produced fireplace to your home is more efficient as they're up to date with regulations and are placed in a higher EPC band, which realistically can add thousands to the house sale price, as well as meaning lower usage of energy whilst living in the home.
As 'green taxes' are advancing, having a modern 'green' fireplace in your home immediately increases value can be incredibly attractive for potential buyers. Furthermore, an efficient fireplace reduces running costs and saves money on heating for you and future potential buyers.
As fireplaces become a desired feature for homes again, more modern designs are being created. A trendy layout is the 'Media Wall', which includes entertainment systems, TV, books, records and more.
Tucking all these accessories away and removing chunky storage solutions can create more space whilst increasing the functionality of your space.
Additionally, a captivating fireplace can be added to the Media Wall to create a stunning focal point. As this design becomes more fashionable, it increases the desirability and value of your home for you and future potential buyers.
How much will a fireplace add to the value of my home?
Purchasing and installing a fireplace can dramatically increase the value of your home. Various estate agencies suggest around 5% can be added to the value of your home when installing a fireplace.
However, this may vary depending on the size, type and design of the fireplace. Currently, the UK House Price Index shows the average price for a home is
What type of fireplace should I add to my home?
The type of fireplace you can install depends on a few factors, namely the design of the home, budget and desired style. The three types of fireplaces generally available include; Solid fuel fireplaces, Gas fireplaces and Electric fireplaces.
Many of the new build houses lack a usable chimney, or in some cases, in older homes, the chimney may have been closed up. This prevents the installation of Solid fuel fireplaces, so this must be considered first.
Solid fuel fireplaces can have a big impact on the value of your house, offering a classic heat source that's reminiscent of previous generations' homes.
This kind of fireplace generally sits on a cast iron grate or basket, with a stone fireplace, with coal or wood used as fuel. Installing a coal or wood-burning fireplace in a home with no chimney is financially and mentally a big endeavour. Most homeowners without a chimney opt for a gas or electric fire as they're much easier to set up.
To have a solid fuel fireplace in your home, certain official requirements must be met for health and safety reasons. Most importantly, the hearth (fireplace floor area) must be crafted from non-combustible materials like stone or brick, with the thickness of the hearth determined by heat output.
Regulations also state that the hearth must protrude by a minimum of 150mm on each side with at least 300mm to the front of the fire. These strict conditions mean a HETAS qualified fireplace fitter must undertake the installation.
This can be more costly than other fireplace options that can be installed by yourself.
Gas fireplaces are considered one of the most cost-effective options available, with a great deal of flexibility and diversity. They come in various styles and sizes, with some types not demanding a chimney.
A gas fireplace is a perfect choice for new build homeowners or flat owners that cannot install a chimney and require an easier installation process. Modern gas fireplaces come in all shapes and sizes, from wall-mounted design to slimline fires.
A popular design is a hole in the wall version; these are a regular feature in bigger modern homes, with many even sporting more than the one. For those more focused on energy efficiency, there are dedicated high-efficiency gas fires available.
An electric fireplace is the most versatile option, as every home has easy access to its electricity supply. Installing an electric fireplace requires much less hassle than connecting up a gas supply, that is, if the home even has access to one.
Electric fireplaces are incredibly flexible available in various styles, from wall mounted to freestanding; there's bound to be an electric fireplace that matches your requirements.
Will a period fireplace add value to my home?
Period fireplaces can bring a fresh lease of life into your home, whilst oozing a classic vintage feel. Although older fireplaces are generally less efficient, with restorations and adjustments, energy use can improve.
From simple tricks like burning dry seasoned wood to installing a fireplace insert.
Vintage fireplaces are becoming rare as the market demand grows and more are installed into homes. Unlike conventional modern fireplaces, the number of period features is limited, therefore increasing their value.
The addition of a rare vintage fireplace piece in your home could be the unique selling point for many potential future buyers, moreover, it can create a grand presence in your home.
How to get the most out of a newly added fireplace?
Installing a fireplace into your home, whether vintage or brand new, can increase the value of your property quite substantially. To gain all the benefits of value-adding fireplaces, consider a few factors.
An important factor when planning to sell your home is the timing; for instance, if you've just had a new or vintage fireplace installed, then put your house on sale just before winter starts.
Having a warm, burning fireplace during colder month viewings can increase interest, create a real cosy atmosphere and help potential buyers envision themselves in the space. This trick can increase demand, in turn allowing the seller to expect the maximum sale price or choose who they sell to.
Another point is that buyers' desire for multiple fireplaces is growing. The standard front room fireplace can be a selling point, but to have fireplaces in bedrooms, spare rooms, and dining rooms can further boost your property, setting it apart from the rest and allowing you to increase the expected price.
A sense of opulence can be achieved with one or more staple fireplaces, as in the past, they were exclusively for the affluent homeowners. Now fireplaces can provide function and style at more affordable prices, so why wait to enhance your home!
Do you have a period fireplace which needs repair or restoration. If you live in the Hastings and East Sussex area, our expert antique fireplace restoration services can help.