While many individuals select a wood burner to fulfill their desire for a cozy house, others are far more practical! One factor you may have considered when purchasing a wood-burning stove is if it would improve the value of your property.
The reality is that wood-burning fireplaces are a long-term house investment. While they do have a one-time installation fee, they can help you save money in the long run by reducing your dependency on escalating energy prices.
Wood stoves may also add value to your home. In fact, we conducted research and discovered that adding a wood burner can improve the value of your property by up to 5%!
Value of a Wood Burner
To determine your profit, you would also need to deduct the cost of installing your stove. Depending on the model, the purchase and installation of your log burner $5,000 may be a good estimate for a property with an existing chimney. According to our typical house value example, this would still result in a profit of more than $12,000 dollars.
Is a Wood Burning Stove Installation Expensive?
Home renovations may be expensive and inconvenient to your daily life. While new bathrooms, kitchens, and loft conversions generally provide a better return on your home’s worth, they are also pricey and might take several days to weeks to complete.
Wooden stoves, on the other hand, are a reasonably risk-free investment. If you already have a chimney, switching from an open fire to a stove should be a breeze. And adding a double wall flue outside should cause a very minor disturbance within your home.
Furthermore, as compared to other house renovations, the initial set-up cost is very modest. Savings on heating expenses may also assist in covering the cost.
Log Burning: It’s Becoming Popular Again
Fireplaces went through a bad time throughout the 1960s and 1970s. Many central heating systems and modern gas appliances were bricked up by homeowners. They bricked up their fireplace openings and believed that solid fuel fireplaces were a thing of the past.
We are currently witnessing a revival of wood burning. Instead of scary and messy open flames, we now have clean and convenient stoves that are not only functional but also look quite attractive in our homes.
As trends continue to shift toward renewable energy sources, the rising demand of wood burning stoves will undoubtedly play a role in their ability to raise the value of your property!
Is a Wood Burning Stove Worth It?
A wood burning stove is a fantastic choice for homeowners looking for ample heat output as well as a nice style choice for their home.
Those who go with a wood burning stove will save on firewood costs, since the fire can be controlled more efficiently in a wood stove.
Wood stoves are designed to overcome issues with burning wood in traditional open fireplaces, especially the problem of losing heat up the chimney that could have been used to warm up the home.