A Fireplace Increases the Value of Your HomeHaving a fireplace in your house can increase the resale value of your home. Prospective buyers may want a toasty fireplace as a feature of the home they purchase. Therefore, the buyer may be willing to pay more for a home that already comes with a fireplace so they don’t have to install one later on.
Costly to Install and MaintainWhile fireplaces are great features, they can be costly, especially if your home doesn't have one and you end up adding one on later. The cost to install a complete fireplace, whether it is gas, electric or a wood burning fireplace, can amount to hundreds, if not thousands, of dollars. Maintaining a fireplace can also be an unexpected expense homeowners don't consider. To maintain a fireplace, you may be required to check the gas line and batteries for leaks, in addition to cleaning out the flue and chimney. These are often tasks that a heating contractor cannot perform and you will have to call a fireplace specialist.
Other Things to Consider with a Fireplace
- You can save money as fireplaces often heat up homes faster
- There may not be ready access to heat if you don't have firewood or if the electric/gas line is broken
- There are dangers associated with the use of a fireplace
- Adding insulation to the chimney, door, and walls can significantly improve energy efficiency