A wood burning or gas fireplace can be an asset to virtually any home. Not only are they functional, but they can add a level of ambiance to a living room, kitchen, bedroom or den.
So what if your home doesn’t have a fireplace?
Adding on a traditional fireplace with chimney and vent can get expensive. You can expect the price of a fireplace add-on to cost more than the value that it adds to a house.
But what about an electric fireplace?
They are cheaper and easier to install. At the same time, they still offer the heat and ambiance of their competitors. The question is, “Does an electric fireplace increase a home’s value?”
These days, most electric flames use energy efficient LED lights as well as adjustable thermostats so you can keep your energy costs low. You can even operate most fireplaces without the heat feature, keeping operating costs low at just pennies per hour.
Long story short, I believe that they can. Let me explain why:
1. Electric Fireplace Installation is a Cheap Remodeling Project.
Compared to other home renovation projects, well-designed electric fireplaces can really pay off. Keep in mind that many installs don’t require special wiring, and of course the cost of venting is avoided altogether.
In most cases, homeowners don’t even need to hire a contractor and can complete the entire install themselves in an afternoon or less. This can result in a huge cost savings.
2. Electric Fireplace Mantels Can Add Lots of Functionality
Many of these units can put off a good amount of heat, some covering up to 1,000 square feet. Smaller models can be perfect for guest rooms or dens, while larger heaters can be great for guest cottages, living rooms or even small homes.
In addition, some units include a tv stand (with a high weight capacity) or a bookcase surround. These can be nice for additional storage and added functionality in rooms that otherwise don’t have storage or lack a focal point. That said, they may not work so well in smaller rooms with limited space.
3. You Don’t Need Design Skills to Install an Electric Fireplace
Since an electric fireplace is typically a super simple installation process, you don’t need to hire an interior designer or have design skills yourself. In fact, it’s fairly easy to transform a dull and boring room into one that is charming and inviting with a well-designed fireplace that you pick out yourself.
I suggest looking for an electric fireplace with a custom-looking mantel that matches the design of the home (ie stone, wood, modern, rustic, etc..). I don’t think it necessarily needs to appear “built-in” as long as it fits well in the space.
TV Stand Combo
Wood TV Stand
w/ Fireplace Insert
Faux Stone Fireplace
Rustic Pine & Stone
Electric Fireplace Mantel
Antique Ivory Gossamer
Wall Fireplace Mantel
Modern Electric Fireplace
…is that painting the wall behind a fireplace can enhance the look of the unit. A darker shade or contrasting color can make the space look more elegant, help the mantel stand out or even blend in. This is a cheap and easy re-decorating tip that homeowners can do themselves. Of course, a fresh coat of paint is yet another way to increase the value of your home.
Don’t add lots of clutter around your new fireplace. If you choose to add accessories around the hearth like planters, vases or other decor, I suggest using more “expensive-looking” items rather than knick-knacks. This will give the appearance of a more expensive-looking fireplace and more, which in turn has the tendency to increase the home’s value.
As you might expect…
The actual value increase amount depends on the electric fireplace you choose as well as the design and layout of the room. Ideally, you want to go for quality plus value. You don’t want to install a cheap-looking unit, while at the same time, you don’t want to over-spend if you don’t have to.
Here’s What to Look For to Maximize Your Home’s Value:
- Fireplaces with heaters
- Custom-looking design that provides ambiance and style
- Features that add function, like storage
So, Can Electric Fireplace Mantels Increase Home Value? Yes, I think so.