No matter how long you plan to remain in your home, you never know what the future may bring, and it can be of great comfort to know that the value of your home has increased. And, while large-scale renovations and remodeling can certainly help to do that, so can smaller investments such as the installation, upgrade, or restoration of a fireplace.
Not quite convinced? Here are a few reasons why you should consider adding a concrete fireplace mantel to your home if you’re looking for a cost-effective and relatively simple way to increase its value:
- They’re on-trend
Currently, a lot of homebuyers are searching for properties with great fireplaces, making them almost as trendy as home offices. Add a fireplace to your home or upgrade your existing one, and your listing might prove more popular than others in your area.
- They can save homebuyers money.
As an alternative source of heat to electricity during the colder winter months, homebuyers purchasing a property with a large, fully functioning fireplace could save money on their energy bills.
- A new or restored fireplace adds atmosphere.
What better way to create a welcoming, warming ambience during the long, cold winters than with a roaring log fire? Buyers viewing your home can imagine themselves sitting around the fireplace, warming themselves, toasting marshmallows, and chatting with friends and family, all while feeling the warmth on their faces and hearing the crackle of the flames. For some, it makes a home complete.
It’s also true that an old fireplace can work against you.
A fireplace that’s old and decrepit-looking or that hasn’t been properly maintained will never increase the value of a property; in fact, it can actually lower the value. It can also deter potential buyers.
Factors to consider when adding a fireplace to your home
While a high-quality fireplace that has been professionally installed and well-maintained is virtually guaranteed to help you sell your home and, in many instances, increase its value, there are some things to think about when deciding upon the type and size of the fireplace. If your home doesn’t already have a chimney, for instance, designing and building one can be a considerably higher investment than simply installing a gas or wood insert. But it can add considerable value.
Also, a big fireplace isn’t necessarily the better option, especially if your home is small or the space in which the fireplace will be added is small. A big fireplace might take up valuable space and create the effect of the room appearing to be even smaller than it already is. On the flip side, a small fire in a large space may simply look lost and out of place.
Careful consideration should be given before installing any kind of fireplace, and visiting a local fire showroom might give you a better idea of your options in terms of fireplace surrounds and what would best suit your home.
Ultimately, adding a fireplace or upgrading an existing one usually gives homeowners a great return on their investment, often helping increase the value of their home. Just be sure to choose a type of fireplace that matches the room, and don’t forget that there are some great precast concrete options out there that are affordable, highly attractive, and eco-friendly, too.