Does a Fireplace Add Value to a Home

Many people love having a fireplace. They're a cozy, warming feature that can draw the eye in any living room and kitchen. Whether lighting a fire is reserved for special occasions or it's a favorite way to stay room over the winter, homeowners with fireplaces love the ambiance they add.

However, if your home doesn't currently have a fireplace, the question of whether or not to install one is a bit trickier. After all, does a fireplace add value to a home, or is it simply something that's nice to have? Today, we'll take a deeper look at the value of a fireplace to your home, both in the short term and long term.

Is a Fireplace Really Worth It?

Financially, a fireplace can be well worth it—but how much does a fireplace add to home value? Fire features like hearths and fire features have been prominent on the list of must-have house features in the real estate market since 2015 (when Realtor.com ranked it at the number one spot). The average return on investment homeowners see for adding a new fireplace is between 60% and 90%; you can more than double that ROI if you update an older fireplace. So, does a fireplace add value to a home? Absolutely!

Along with that substantial ROI, a new fireplace also comes with potential lifestyle improvements, such as more warmth, a more comfortable home that suits your style, and the appeal of a gas or wood-burning fireplace that can draw more of your family together in the living room. So getting a fireplace now pays dividends, both when you want to use it now and if you plan to sell your home in the future.

Benefits of Having a Fireplace in Your Home

There are several benefits of having a fireplace at home. Everyone has their own favorite element of a home fireplace, whether it's the crackling fire, the warm colors, or the savings on your heating bill. If you're on the fence, consider these key benefits.

Aesthetics

Fireplaces are central to home decor, whether you have a wide mantle, a stone facade, or a chic gas fireplace with a glass surface. Installing a new fireplace can help your home's style pull together and give you a focal point for the space.

Warmth

At their core, fireplaces help provide warmth. Winters in Nashville can arrive quickly and far ahead of schedule. A fireplace can help you keep your central living room toasty, even if the power goes out or heating prices surge. It's a flexible, reliable option that you always have ready.

Long-Term Value

Fireplaces are a long-term investment. They provide comfort now and can improve your home's sellability and potential selling price later. Provided you keep your fireplace in good condition with regular cleanings and maintenance, it's an investment that simply doesn't go bad.

Factors That Determine If a Fireplace Is Right for Your Home

While virtually every home can benefit from having a fireplace, you might want to make sure it's a great idea before moving forward. Consider these factors as you decide whether or not to get a new fireplace:

• Do other homes in your neighborhood have a fireplace? If so, that's an indication that they bring value, whether they were part of the original construction or added after the fact.

• Has cold weather ever disrupted your home? Whether you've had a winter power outage or your heater doesn't always keep up with the cold, a fireplace means you don't have to make do.

• Is there a place in your home for a fireplace? The answer to this question is increasingly 'yes' as fireplace designers and architects develop new styles with traditional rooftop chimneys or chimneys through an exterior wall.

Protect Your Home's Value With Chim Chimney's Expert Chimney Cleaning Services

Adding a fireplace can instantly add appeal and charm to your home. Cleaning that fireplace can help it stay that way. At Chim Chimney, we serve Nashville-area homeowners with reliable chimney cleaning, repair, and maintenance services. Schedule an appointment with our team to be ready for the chilly season.

Photo Credit: Jon Naustdalslid // Shutterstock