Question 1

How much does a fireplace add to home value?

Accepted Answer

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A fireplace can increase a home's value by as much as 12%, with some reports indicating that homes with fireplaces list for around 13% more than the median sale price. Fireplaces are both functional and aesthetically pleasing, adding a charm that many homebuyers find desirable. The actual return on investment depends on the fireplace's size, type, and material.

However, a fireplace can detract from a property's value if it is unusable, not up to code, or in need of immediate repairs. The type of fireplace also matters; custom electric fireplaces and inserts can add value, while freestanding units that can be removed have less impact.

Question 2

What factors affect staging costs?

Accepted Answer

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Costs depend on home size, number of rooms staged, duration of staging, and furniture rental needs.

Question 3

Does staging a home really work?

Accepted Answer

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Yes, staging a home really works and can help your home sell faster, potentially for a higher price than if you did not use a home staging service. According to the National Association of Realtors, 48% of seller’s agents reported home staging decreased a home’s time on the market.

Plus, 20% of buyer’s and seller’s agents claimed home staging increased home sale prices by 1% to 5%. Although decluttering and cleaning help a home sell, staging can take your home’s curb appeal to the next level, helping to expedite the process and increase your profit.

Question 4

How do I stage my home myself?

Accepted Answer

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To stage your home yourself, clean your home thoroughly to sell, leaving it gleaming like a five-star hotel. Less is best—always clear away clutter and anything personal so buyers can focus on the beauty of the rooms. Prospective buyers will check the closets, so investing in a storage space may be necessary.

Move furniture around, mix fabrics and decor, and de-cramp the room by removing any unnecessary furniture. A fresh coat of paint always helps, as do natural features like plants.

Question 5

Does removing a fireplace decrease home value?

Accepted Answer

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Yes, removing a fireplace can decrease your home's value, as it is a sought-after feature for many buyers. The potential loss in value is estimated to be between $1,000 and $5,000. The impact can vary by market and climate; for example, a fireplace is more valued in colder regions like Minnesota than in warmer areas like Florida.

However, if a fireplace is in poor condition and needs extensive repairs, removing it might be a reasonable option. When deciding, weigh the benefits of removal (more floor space, less maintenance, reduced energy loss) against the potential decrease in home value. If you plan to sell soon, it is generally advised not to remove it.