Warm Up Your Resale Value

By: Allison Millar, Contributing Writer
In: Product review
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There’s nothing like a fireplace to set the tone for a room. If you have one, you know how much it draws people together and adds to your home’s resale value. Real estate agents say houses without fireplaces are at a disadvantage. Is yours?

If you don’t have a fireplace, you may be missing out on more than the ambience. According to Myspendingplan.com, you need at least one to boost your home’s resale value. The good news is there are many ways to add a gas or electric fireplace–even in small spaces or in the middle of a wall. (Some types require a contractor; some don’t).

Fireplace Bonanza

We’ve been debating this topic for months. Spend thousands of dollars fixing our existing wood burning fireplace or take the easy way out and go electric in a different location. These cherry, oak, and mahogany fireplaces from Home Depot have me convinced. For $300 to $700, you just plug it in. Shop around online. You can find plenty of variety. Plus, they’re pretty energy efficient.

Fireplaces and Resale Value

Adding a fireplace can impact your resale value, but you have to be careful. Don’t spend $10,000 adding a built in gas fireplace with a fancy stone surround when you can get an electric or direct vent (gas) fireplace for much less.

Direct vent fireplaces vent out the wall, so you need a contractor for installation. The beauty is that they don’t require a chimney, so you can add them in unusual places and in most multi-family units. For $2,000 to $4,000, you can really spruce up a room and work on your home’s resale value.

Go Energy Efficient

Another option is a wood or pellet stove, which is great for warming a kitchen and adding ambience. Check out Fireplace.com for details on tax incentives for going with certain models.

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