A fireplace is a hot commodity in real estate.
Just mentioning the word fireplace can conjure up images of sitting, curled up by a crackling fire drinking hot cocoa or making smores. It evokes a sense of coziness and relaxation. These pleasant associations contribute to the continued popularity of fireplaces.
Homebuyers take many things into consideration when buying a house from its size and amenities to the school district it is in. While location is the starting point for most homebuyers, when they are looking at homes in their target area, the deciding factor becomes the amenities. Fireplaces continue to make it onto the list of top features that most homebuyers are looking for.
According to research compiled by the National Center for Real Estate Research and Angie’s List, approximately 40% of homebuyers are willing to pay more for a fireplace. The National Center for Real Estate Research found that, on average, a fireplace adds an extra 12% to the value of a home. Angie’s List found that it can increase a home’s value by $1,000 to $15,000.
What Kind of Fireplace Do Homebuyers Prefer?
Angie’s List took a close look at this question and found that more than 50% of homebuyers prefer wood burning fireplaces. Gas fireplaces took second place with more than 20% of homebuyers. Electric fireplaces were in last place with a little over 10%. As more people experience the convenience of gas fireplaces, it is very likely that the popularity of these clean burning fireplaces will continue to rise.
Are Outdoor Fireplaces as Popular as Indoor Fireplaces?
Just like indoor fireplaces, outdoor fireplaces create an inviting atmosphere that is perfect for relaxing and entertaining. For homeowners that love to host, they extend the season for entertaining outside from early spring to late fall. This explains why a demand for outdoor fireplaces is a growing trend. The National Associate of Home Builders named creating an intimate outdoor space with a fireplace or fire pit with cozy seating as one of the top home trend in 2016 that they expect to continue. When Angie’s List conducted their research, nearly 80% of realtors said that both indoor and outdoor fireplaces increase a home’s value. For luxury homes, outdoor fireplaces have become a “must-have” feature.
If you are considering make an investment in your home that will increase its value, you would be smart to invest in an indoor or outdoor fireplace. Along with boosting your home’s resale value, you and your loved ones will be able to enjoy the creature comfort of a crackling fire and an attractive new design feature to your living space or patio. Today’s fireplaces offer innovate features, stunning designs and high efficiency.
Denver area residents can visit our showroom in Fort Collins, CO to see a diverse selection of wood burning, gas and electric fireplaces. You can compare units side by side to get an idea of what fuel type, design and model would be best for you. Call 970-266-8556.