Fireplaces and Home Values: How Much Do They Add?

What can a wall mounted fireplace do for your home’s value? Quite a bit, according to real estate experts. If you plan to eventually sell your home and you do not currently have a wall mounted fireplace, you may consider adding one so that you can raise the asking price when you decide it’s time to sell.

How much value can a fireplace add to a home? According to the National Association of Realtors, a fireplace can add as much as $12,000 to the value of a residential property. The same rings true for condominiums: According to Sotheby’s International Realty, adding a fireplace to a condo can raise its value by up to $10,000.

Logically, a new fireplace is going to be a big selling point; buyers appreciate a home that has as many new features as possible, especially when an old, outdated model could be a safety concern. In fact, a leading chimney repair company in Washington state reported that 90% of older fireplaces fail inspection. And according to the U.S. Census Bureau’s American Housing Survey, almost 40 percent of existing fireplaces in residential properties are not usable. All things considered, it just makes sense to have a new fireplace installed if you plan to sell your home one day.

So, how should you choose what kind of fireplace to install? It may be a good idea to look at what’s popular with buyers right now. According to real estate agents, some of the most popular fireplace trends among home buyers are:

• Small, sleek fireplaces that occupy minimal wall space

• Gas fireplace in condominiums, for convenience and safety

• Wood burning fireplaces for single family homes in cold weather areas

Of course, we have all of those options here at Custom Fireplace Design. Our modern fireplaces include wall mounted fireplace models, suspended and hanging fireplaces and more – and, we have both gas and wood burning varieties. You are bound to find one that will add substantial value to your home.

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Using Your Built In Fireplace for the First Time

The first time you use your built in fireplace, there is a simple protocol to follow for safety reasons. First, you want to make sure you have the proper safety equipment installed. That includes two essential alarm devices: a smoke detector and a carbon monoxide detector, both of which may be required by law (depending on your state or province). Smoke inhalation and carbon monoxide poisoning are both potentially deadly risks, so please have these devices installed if you do not already.

Next, you want to check your fireplace’s chimney for debris. Many people underestimate the probability that debris can accumulate in their chimneys, but we assure you that it can. In windy areas, this is an especially prevalent risk – and in nearly any geographical location, birds can make their nests inside chimneys. If you light a fire and there is a bird nest in your chimney, killing the birds is not the only risk. You will also put yourself at risk because smoke will back up into the home; after all, it has no other place to vent. Also, make sure there is a flue cover at the top of the chimney. This will prevent sparks, which could cause a fire on the roof if they get out of control. A flue cover will greatly reduce the risk of that happening.

Okay, those things are done – but there’s still a little more work to do before you can enjoy your fireplace for the first time. It’s simple, though; just make sure your chimney has been swept completely. It should be cleared of creosote and soot build-up, both of which could cause a chimney fire. You also want to open your fireplace damper, which is the metal flap located right inside the chimney near the front of the fireplace. You should be able to pull the damper down to open it.

Now you can prepare your fire, whether you are using natural wood logs or clean burning fuel, and use your built in fireplace for the first time. Enjoy it!

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