How much value does a fireplace add to a home?
At the time, the majority of real estate agents believed an indoor or outdoor fireplace added between $1,000 and $5,000 to the value of a home, but only about 35% of buyers agreed. Nearly 25% felt a fireplace wasn’t worth more than an additional $1,000, and 23% of buyers wouldn’t shell out anything extra at all.
Are gas fireplaces the most popular home features?
Gas fireplaces were particularly attractive to home seekers, and homes with the trend had some of the highest sale-to-list ratios compared to other popular features. Fireplaces used to be one of the most sought-after features—but that’s slowly changing.
Is a gas or wood fireplace right for your home?
However, from a marketability perspective, the 2019 edition of NAHB’s What Home Buyers Really Want study found that 55% of homebuyers found gas fireplaces desirable, compared to 48% of homebuyers who liked wood-burning fireplaces. Plus, gas is substantially cheaper, according to the cost estimates we gathered above.
How many homes have fireplaces in the US?
Only 7% of new single-family homes in 2018 that were priced under $150,000 had fireplaces compared to more than 60% of the new homes that year priced at $500,000 or above, NAHB reports. In 2014, the EPA estimated that there were more than 17.5 million fireplaces nationwide.
Is an outdoor fireplace worth it?
Benefits of Outdoor Fireplaces Outdoor fireplaces certainly cost more, but they also get used more even in areas with long winters. Outdoor fireplaces also work much better in windy areas and allow you to account for wind. Smoke from an outdoor fireplace will blow up the chimney, rather than to your seating area.
Does adding a fire pit increase home value?
An easy win in terms of home resale value is adding a fire pit. Most estimates see homeowners recouping 78% of the costs associated with building a fire pit, especially one with natural gas running to it.
What adds value to a home outside?
Small-scale outdoor upgrades can bring the biggest value, she says. This includes a new front door, a new garage door, and fresh landscaping. Moyer agrees that simple outdoor upgrades are the best place to start. “Like cleaning and clearing out overgrown brush to change the appeal of your home.
Are fire pits a good investment?
According to a survey of over 6,000 Realtors, a 10-foot in diameter natural stone, gas fire pit will yield on average 67% ROI. Costs range widely depending on the type of fire pit and whether it's permanent or mobile, but if you pour $6,000 into the project, you'll get $4,000 back.
How can I raise my home value for $50000?
“Consider white tile, chrome or nickel fixtures, a white porcelain shower and tub, and efficient low-flow toilets and new piping,” says Dogan. “A renovated bathroom can add up to $50,000 to the value of your home,” for a dream renovation with top-of-the-line additions.
What features increase home value?
8 ways to increase the value of your homeClean and declutter. ... Add usable square footage. ... Make your home more energy-efficient. ... Spruce it up with fresh paint. ... Work on your curb appeal. ... Upgrade your exterior doors. ... Give your kitchen an updated look. ... Stage your home.
What adds the most value to a house?
Ten of the best ways to add value to your homeConvert your cellar. ... Split a house into flats. ... Convert your garage to living space. ... Extend the kitchen with a side-return extension. ... Loft conversion to add a bedroom. ... Increase living space with a conservatory. ... Apply for planning permission. ... Kerb and garden appeal.More items...•
What exterior home improvements add the most value?
7 Exterior Home Improvement Projects with the Best ValueAverage cost recouped: 92.1% Garage Door Replacement. ... Average cost recouped: 93.8% Deck Addition. ... Average cost recouped: 65.8% (wood) and 63.2% (composite) Roofing Replacement. ... Average cost recouped: 60.7% (asphalt shingles) and 56.1% (metal)
What adds more value to a home a deck or patio?
Both a deck and a patio offer an impressive resale value. However, patios are usually less expensive to put in and their resale value sits at 100%—which is slightly higher than the 76% resale value of a deck.
How much is an outdoor fire pit?
Fire Pit Costs The average cost to build a fire pit is $700. The project can run as low as $300 to as high as $1,400. The rate for labor is $55 per hour or about $340 per job, and the price for materials is about $400. The average cost range of a premade, above ground fire pit is $300.
How much does it cost to build a stone fire pit?
MaterialsMaterialsPer project costsConcrete block$110Fire brick/brick paver$280Field stone$300Nicolock/Unilock stones$5002 more rows•Apr 22, 2022
Can I have a fire pit in my garage?
Always place fire pits on a non-flammable surface (patio, blocks, concrete) and Never put a fire pit directly on grass. Always keep your fire pit outdoors – never inside the house or garage.
How do I add value to my backyard?
If you want to refresh your yard and build equity at the same time, consider one of these 12 outdoor projects guaranteed to boost property value.Build an Outdoor Fire Pit. ... Replace Your Garage Door. ... Replace Your Front Door. ... Implement a Lawn-Care Program. ... Fix the Facade. ... Refresh Your Landscape. ... Add a Deck.More items...
How much does it cost to build fire pit?
Fire Pit Costs The average cost to build a fire pit is $700. The project can run as low as $300 to as high as $1,400. The rate for labor is $55 per hour or about $340 per job, and the price for materials is about $400. The average cost range of a premade, above ground fire pit is $300.
How much does it cost to build a stone fire pit?
MaterialsMaterialsPer project costsConcrete block$110Fire brick/brick paver$280Field stone$300Nicolock/Unilock stones$5002 more rows•Apr 22, 2022
1. The Right Kind of Fireplace
Fireplaces vary in style, heat sources, and price. Let’s take a closer look at the different types of fireplaces available to homeowners.
2. Location, Location, Location
Like any good home improvement, location is key. Where will your fireplace be the most efficient? Which room in the house is a little more drafty during those colder months?
4. Size and Style Matter
Additions to your home are only improvements if they add something positive. Placing a giant fireplace in a small room will make the room feel cramped, not cozy. On the other hand, a small, corner fireplace could look ridiculous in a great gathering space.
7. Maintenance Costs
Gas and Electric fireplaces maintenance costs vary. The size and type of fireplace determine how much you will be charged for a visit. Because they have mechanical parts, they’ll likely need repair over time.
Will A Fireplace Add Value to My Home?
When a fireplace is the right size and style for your home a fireplace will add value. You may not get a dollar-for-dollar return on your investment. However, the enjoyment you’ll get from using your fireplace has value as well.
How much does an outdoor fireplace increase the value of a home?
The National Association of Home Builders recognizes this growing trend, noting that an outdoor fireplace can increase a home’s value by an average of $3,500.
What does a fireplace add to a home?
It’s quite clear that fireplaces add a sense of luxury and warmth to a home, bringing value and desirability. In 2015, Realtor.com found that a fireplace was the No. 1 feature most often mentioned in home listings.
Why are fireplaces important to real estate?
Real estate agents and homebuyers list fireplaces as one of their most sought-after features. As fireplaces bring a luxurious feel to a house, they often appear on a homebuyer’s wanted-features list. They can also increase a home’s value.
Is wood burning more popular in warmer climates?
While respondents pointed to wood-burning as more popular in states with colder climates; gas-burning and electric saw higher numbers in warmer states. Overall, however, wood-burning leads the trend, regardless of who owns the home or its location.
Do people still love wood burning fireplaces?
It seems most people still love the timeless wood-burning fireplace. As gas-burning fireplaces have evolved, however, they have also risen in popularity. Realtor.com reports that gas-burning fireplaces are starting to eclipse wood-burning on its clients’ top-features lists. Our research supports this rising trend.
Do fireplaces make a house?
Fireplaces Still Make a House a Home. Fireplaces remain a hot commodity — especially wood-burning and gas-burning fireplaces. Potential homebuyers and sellers definitely take their value into consideration. But no one wants to buy a house with a broken, dirty or downright dangerous fireplace.
How much does a fireplace increase the value of a home?
Mason Spurgeon, a certified general real estate appraiser since 2004 who handles appraisals in Missouri, Illinois, and Iowa, estimates that a fireplace may increase a home’s value by a mere $500 to $1,000, if at all. And that’s in the Midwest, where freezing winter temperatures only enhance the cozy allure of an indoor fireplace.
How much does it cost to build a fireplace?
But if you start from scratch, the cost of building a traditional, wood-burning fireplace can cost up to $30,000. Besides the ability to keep your feet nice and toasty and serve as a great holiday centerpiece, does adding a fireplace increase home value in a way that justifies the great expense?
What is included in a residential appraisal report?
The widely used Uniform Residential Appraisal Report includes a box where appraisers can check whether a home has one or more fireplaces or wood stoves. While some homeowners may use a fireplace for heating, the appraisal form considers it an amenity in the same category as a patio or deck, a pool, a fence, or a porch.
How much does a fireplace insert cost?
These can burn using wood, propane gas, pellets, or electricity, and range in price from about $225 to $2,200, not including installation.
How many electric fireplaces were sold in 2018?
Electric fireplace sales have been on the rise in recent years, with about 832,000 retail units sold in 2018, statistics show. An electric fireplace generates a higher utility bill but is easy to operate and maintain.
How much does it cost to remove a chimney?
If you need to remove a chimney or fireplace because of a structural problem or to create more open space, expect to pay about $500 to $2,000 for a partial removal or demolition, or roughly $4,000 to $6,000 for a complete removal.
How much does it cost to build a wood burning fireplace?
As we mentioned before, building a wood-burning fireplace anew can cost as much as $30,000, including the chimney, chimney liner, masonry, and labor, according to HomeAdvisor.
How far away should I put a fire pit from my house?
The size of your outdoor living space is key when picking the right fire pit. Fire associations, advise placing a fire pit a minimum of 10 feet from your house and your neighbors’ houses—and to keep young children about 10 feet away from the pit as well. Source: (Annie Spratt/ Unsplash)
What do I need to know when selecting a fire pit?
When selecting a fire pit, you’ll need to choose your materials and heat source, even if you’re not building it yourself. The exterior materials of your fire pit have a huge style impact, plus affect its durability, says Serenity Health & Home Décor of Eau Claire, Wisconsin.
What is portable fire pit?
Other designs considered portable include a fire bowl and a chiminea. A fire bowl, such as the Hampton Bay Quadripod Round Fire Pit ($79), includes a metal structure that can be set on a ground-level cement or stone surface, or elevated via a table or metal stand.
How long does it take for a propane fire pit to warm up?
“Most of the ones we see are gas,” Veras said. Canned alcohol gel fuel is another option, providing about five hours of burn time but needing about 15 minutes to warm up.
How long does it take for a fire pit to cool down?
Many were hurt after the fire was extinguished because fire pits can take days to cool. Firefighters recommend keeping a fire extinguisher, a garden hose, or a bucket of dry sand nearby to douse any flames while the pit is in use and giving the pit plenty of space to return to a normal temperature afterward.
Do fire pits add value?
So yes, fire pits add value but you likely won’t make money on the project. There’s also the marketability factor.
Do fire pits increase marketability?
Real estate agent Pete Veres of Albuquerque, New Mexico, said that even in his hot climate, fire pits increase marketability, especially if they’re the walled type like he has in his flagstone yard as opposed to a more portable style that a seller might take to a new house. “In most cases, people like it,” he said.
How much does a fireplace increase the value of a home?
Adding a fireplace can increase the resale value of the home by as much as 6 – 12%”. Good news, indeed! Return on investment (ROI) should always be a consideration when planning to build or remodel. So, a fireplace should definitely be in the cards if you are planning a project.
Why do we need a fireplace?
We all know that a fireplace creates the ambiance and feel of a cozy, warm and safe place. A fireplace is one of the amenities in a home that is practical and functional. Today’s energy saving appliances are enjoyed by everyone! In fact, the National Association of Home Builders says that nearly 75% of homebuyers state a fireplace is one of the most desirable features they’re looking for. And the National Association of Realtors say that nearly half of the people buying a home are willing to pay more, if the home has at least one fireplace!
Which is better, a gas fireplace or an electric fireplace?
A gas or wood burning fireplace will provide significantly more heat than an electric model. If heat is very important to you, go with gas or wood. However, there are several scenario’s where aesthetics and ambiance are more important than heat. For example, an electric fireplace mounted on a wall in the master bedroom.
Do you have to vent a gas fireplace through the roof?
When planning, keep in mind that a gas fireplace will need to be vented horizontally out a sidewall or vertically through the roof. Wood burning equipment will require a chimney to go up through the roof.
Is it necessary to demolish a fireplace?
Demolition of a masonry fireplace is considered major surgery and is usually not necessary. Not necessary because there are many different sizes of inserts on the market. Odds are again in your favor that there will be several inserts that would be able to be slid into an older masonry fireplace.
Can you remove a ZC fireplace?
It would likely be a good idea to physically remove the ZC fireplace. New equipment can be installed within the same footprint. The odds are in your favor that another wood burning fireplace will fit into the same space. The odds are very high that a gas model would fit into the framework of an old wood burning, ZC unit.
Is a masonry fireplace necessary?
This carries the weight of the brick, block and stone work above it. Demolition of a masonry fireplace is considered major surgery and is usually not necessary.
More Answers to your Electric Fireplace Questions
In previous articles, we’ve addressed some of the most common questions about electric fireplaces and how to select the right model for your home. Today, we’re back with more common questions you may find yourself asking during the buying and installation processes. Without further ado, here are more answers to your electric fireplace questions.
Does an Electric Fireplace Add Value to a Home?
Yes, and in more ways than one! If you’re looking to enhance the ambiance of your living space in a dramatic way, it’s tough to beat the look of a fireplace. However, building or budget restrictions may not allow for a traditional wood or gas fireplace. An electric fireplace makes an excellent alternative in these scenarios.
How Much Does it Cost to Install an Electric Fireplace?
As previously mentioned, one of the biggest benefits of choosing an electric fireplace over a wood or gas fireplace is the lower installation cost with fewer requirements. Typically, the largest cost associated with installation is the cost of the unit itself. However, every build is different, and your costs may vary.
Should an Electric Fireplace Be Installed on its Own Circuit?
Although an electric fireplace can be a plug-and-play experience, it’s important not to overlook little details that can greatly affect your installation.
