Heat Up Your Home’s Value in a Cooling Housing Market

If you’re ever trying to sell your home in a cooling housing market or simply looking for an affordable, value-enhancing renovation project, adding a fireplace can be a smart bet. Several studies point to the increased value a fireplace brings to a home.

A recent six-year study by the National Association of Realtors® suggests each fireplace in a home yields a 12 percent increase in home value.

According to the study, only adding an additional full bath or a garage increased the value of a home more. In addition, the National Association of Real Estate Appraisers indicates homeowners without fireplaces can potentially raise the selling prices of their homes by about six to 12 percent simply by adding a fireplace.

Because of their warmth—both literal and figurative—fireplaces are one of the features that potential homebuyers inevitably gravitate toward.

The National Association of Home Builders (NAHB) reports that fireplaces rank among the top three features desired by new homebuyers.

An NAHB survey also found that 77 percent of homebuyers want a fireplace in the family room, where they’ll spend most of their time.

And 50 percent of homebuyers would like a fireplace in the living room, where they do much of their entertaining.

One of the most attractive, convenient and cost-effective options is a direct-vent gas fireplace. Direct-vent gas fireplaces can be installed in virtually any room of the home at a fraction of the cost of a masonry fireplace. Homeowners can turn them on or off with the flip of a switch and some models actually operate with a remote control.

Besides adding value to your home, direct-vent gas fireplaces can cut heating bills by reducing dependence on the central furnace.

They burn efficiently with up to 70 percent of the heat they generate remaining in the house.

A fireplace also adds intangible value by helping buyers see your home in a better light.

 Courtesy of : The Kiper Team Offices:(636) 898-123, HOTLINE: (314) 729-1010 CLICK HERE to email us.