When correctly implemented, fireplaces add a charming focal point to a room. Not only do they look great, but the variety of fireplace styles can range from rustic and cozy to sleek and sophisticated. They can also be decorated for each season and are the perfect place to hang stockings come Christmas time. But nowadays with central heating, fireplaces tend to serve a more aesthetic purpose than a functional one, though that isn’t to say you couldn’t build a fire if weather permits.
But that’s just it—if you live in a tropical/subtropical climate like Florida, it’s rare for the weather to permit such a thing. Not only that, but a good deal of houses aren’t even built with chimneys anymore, as by the 1950s central heating was the ticket for keeping buildings warm. Bad news for chimney sweeps!
Fortunately, many modern fireplaces don’t require a chimney to function. Ventless gas fireplaces are popular for their cozy heat-generating capabilities, while electric fireplaces are a cheaper alternative that can add to the atmosphere of a room without the heat, which is ideal for warmer climates where heat is not in short supply.
While fireplaces are not specifically accounted for in home appraisals, they can add value to a house given the right circumstances. A fireplace can potentially add $1000 or more to a home’s value, depending on the area and how much the buyer values it as a home amenity. However, this is more likely to occur in more expensive homes, as fireplaces don’t always make the must-have list of homebuyers looking for an affordable home.
In the end, whether or not a fireplace adds value depends on individual preferences. Some people won’t buy a house without a fireplace, while others don’t want to shell out the extra money to have one. As with any home feature, it’s all about matching the right buyer with the right house.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Buyers Closing Timeline: A To-Do List