AHOMEOWNERS ASK: Besides assuring Santa’s deliveries, what value does a fireplace add to my home?
When it comes to having a fireplace in your home, the value is two-fold: sentimental and financial. Buyers consider both.
WHAT’S THE SENTIMENTAL VALUE?
For those who celebrate Christmas, hanging stockings by the chimney with care can't be beat for creating holiday warmth and anticipation. Santa will soon descend to fill them with toys and gifts. And on any other chilly night, a fire can draw the family together with its warmth and soothe them with its dancing flames and crackles.
WHAT’S THE FINANCIAL VALUE?
The National Association of Realtors estimates that a well-maintained, functional fireplace can add 6 to 12 percent to a home's value. However, do emphasize well-maintained and functional. A fireplace that is not working or appears dated can be a pointless money pit in a buyer's eyes.
WHAT’S THE BEST TYPE OF FIREPLACE?
Fifty-seven percent of American homes have some sort of hearth product, including fireplaces, inserts, and stoves. They are fueled by wood, gas, propane, or electricity. Wood probably provides the greatest ambience with its ancient fragrance and mesmerizing glow, but wood fireplaces require significant cleaning and maintenance, not to mentions a supply of wood. Many prefer gas or electric devices for their cleanliness and convenience. Just flick a switch for the instant comfort of fire.
DOES A FIREPLACE HAVE DISADVANTAGES?
It can. First, they can be a liability. Three out of five home fires caused by a heating product are caused by fireplaces, according to the National Association of Realtors. Second, they take up space and can limit furniture arrangements. Third, they can dictate a home's style. Interior stone chimneys, marble surrounds, and classic white mantels are very different looks.
But on Christmas Eve, all burning fireplaces are beautiful. Happy holidays to you!
REMEMBER YOU CALL THE SHOTS!
You can approach the selling and buying process confidently, armed with up-to-the-minute data and a great team of agents with the Adam J. Baldwin team.
