Does an electric fireplace add value to a home?
Electric fireplaces are fastly becoming the most popular option when it comes to fireplace installation. They can be installed anywhere providing there is a suitable power source, create no harmful emissions, are 100% energy efficient and come in so many different styles that there is one out there for every aesthetic or preference.
Can fireplaces add value to a home?
FIreplaces in general are capable of adding value to a home, including electric fireplaces. They do, however, add value differently, as it depends entirely on what the potential buyer is looking for.
Wood-burning fireplaces
Traditional, wood-burning fireplaces can only be installed in a home that has a functioning chimney. Due to these restrictions and the traditional ways in which these fires are burned and maintained, these fireplaces can be rare to come across, especially in modern properties. As a result, these types of fireplaces add the most value to a home, as it is considered more of a feature than an electric fireplace. Wood-burning fireplaces are expensive to maintain but provide a level of ambience that other fireplace types cannot achieve.
Gas and electric fireplaces
Gas and electric fireplaces will not increase a home’s value as much as a traditional wood-burning fireplace will. This is in part due to their availability and installation process. Wood-burning fireplaces need extra features such as a chimney to function, whilst gas and electric fireplaces can be installed anywhere within a house.
One way in which these fireplaces can benefit, however, is by making a desirable living space. As electric fireplaces, in particular, are gaining in popularity, and have a variety of options available on the market, they can be used stylishly in any space to accentuate walls or areas of a room.
Benefits of an electric fireplace
Whilst electric fireplaces may not add as much value to a home as some other types on the market do, they have a whole range of benefits that other fireplace types lack. These benefits include:
- Eco-friendliness with zero emissions
- Use a renewable energy source
- Inexpensive
- Easy to maintain
- Cost-effective
- Energy efficiency
Should you install a fireplace?
Installing an electric fireplace can be a fairly quick and easy process, depending on the setup that you choose to convey. Electric fireplaces in particular have a whole array of ways in which they can be displayed, as free-standing, flush in a wall, or added to a media wall. Depending on how you want your fireplace to be installed can impact the price and general look of the room. Installing a fireplace has plenty of benefits, including being able to supply heat quickly and easily to a room, ambience and a feature to look at and tie the room together.
If a professional installation process is needed to install an electric fireplace, it can help improve the resale value of a home as it will prevent future owners from needing to refurbish the room to make space for a fireplace.
Final thoughts
Even if an electric fireplace doesn’t drastically increase the resale value of a home, how it is installed and fitted can make a difference to potential buyers. Electric fireplaces are zero emissions, energy efficient and inexpensive to run and maintain compared to other fireplaces on the market. These qualities can also entice buyers, perhaps more so than the qualities presented by other types of fireplaces, such as wood-burning ones.
