Fireplaces won’t hold the same value to a buyer as they once did, but they still appeal to a large number of people when buying a house.
Not only can a fireplace help reduce your fuel bill, they can also be used purely for decorative purposes to help your home have that cozy feel to it.
A survey undertaken by the National Association of Realtors found that nearly half of buyers would pay more for a house that had at least one fireplace.
So is a fireplace a selling point for a house?
Yes, and no. There are a number of factors that will influence whether a fireplace is a selling point, such as who the potential buyer is, the type of fireplace and the location of the house. A fireplace will be an added bonus to many people, but not having a fireplace shouldn’t hurt the sale of your home.
The benefits of having a fireplace
There are a number of reasons why someone would find that a fireplace adds value to a home. A fireplace save you and your family from a very cold night if there’s a power cut or the heating fails, and can also provide a relaxing ambience for all the family, whether lit or not.
The sound of a fire crackling on a cold winters night is the idea of peace to some, and now that the number of fireplaces being built with new houses is on the decline, an open fireplace can provide that feeling of nostalgia.
A fireplace can also help reduce your energy bill. As gas and electric prices continue to climb, your supply of firewood can keep your home warm and cozy while helping to reduce your dependence on the central heating, especially during the winter months.
It depends on the buyer
Everyone has their own preference on whether a fireplace is something that would help sell a house to them.
The Hearth, Patio & Barbeque Association found that fireplaces rank second behind outdoor patios, porches and decks, as the top feature of a new house desired by buyers.
Some people may be put off by the fact that a traditional fireplace can provide a draft of cold air in the winter months, or that it requires cleaning every year.
Others may see a fireplace as an integral part of the house that provides a focal point for the room, and may be willing to pay to find a house that has a fireplace.
Unfortunately you don’t know who will be coming to look at your house, so there’s no harm in assuming that a potential buyer will find the fireplace a selling point. Therefore, make sure that it’s clean, in good condition and in good working order, otherwise some buyers may be put off by having to get the fireplace to a useable state.
How much does a fireplace add to the value a house?
A survey undertaken by the National Association of Realtors found that 46% of buyers would pay more for a house that had at least one fireplace.
The survey also found that home buyers were willing to pay, on average, and extra $1,220 for a house with a fireplace, and that the demand for a fireplace could increase a home’s value in certain locations by as much as $12,000!
Deciding whether your fireplace is a selling point
If you’re thinking of installing or removing a fireplace in your house then it may be worth weighing up the pros and cons of doing so. It may add value to the house to the right buyer, but may just an added bonus to another.