Value of a Fireplace
We bought our 1br coop brownstone apt under the understanding that we had a working fireplace. We did not have it inspected, nor have we used it. After a bird got stuck in the chimney last week we learned that we need a damper, some firebrick and some other small work to make it compliant….
We bought our 1br coop brownstone apt under the understanding that we had a working fireplace. We did not have it inspected, nor have we used it. After a bird got stuck in the chimney last week we learned that we need a damper, some firebrick and some other small work to make it compliant. They recomened just bricking the chimney off since we do not use it. Even thought we do not use it I think there is value on the resale, is there?
If the cost to fix it is under 3K, by all means get it fixed if you can swing it. The added resale value is at least five times that.
It’s also good karma to keep the building well-maintained, not just bricking up the problem areas!
Maybe it’s that primal, soothing ambience of a fire on a chilly night or that Norman Rockwell moment wrapped up in a Bill Cosby sweater with a glass of eggnog during the holidays. Yes, Fireplaces can add value to a property in the eyes of many buyers, even though most will probably never use it beyond the odd candle. I agree with the others, if the costs are reasonable – fix it, if not, just do the necessary work needed to avoid heat loss.
I like to see a fireplace but I wouldn’t bother fixing it if it costs a lot. Most people are like you and barely use them.
Speaking as someone who refused to look at any apartment or house without a fireplace – I would vote for fixing it, definitely. Even if you can’t completely fix it up, don’t brick it up and make it more difficult down the road.
You definitely need a cap on the chimney to prevent critters from entering.
Is the damper missing, or just broken? Repairs to damper, etc., should not be too expensive—maybe even less costly than bricking up the chimney. Certainly less costly than a new resident undoing new brickwork. If you don’t use the fireplace, and don’t ever intend to, just install a cap, make sure you’re not losing heat up
the flue, and skip the rest. Fireplaces add value for many buyers, even the buyers who never use them.
If the work won’t cost a lot, and you can afford to have it done, I think it would probably be worth it. A fireplace will have value to some buyers (it would to me, but I already have a house…) and not others. There’s a reason that all those ads say WBF though – people want it, and will pay more for it – not everyone, but some will. Plus, when you get it working, you’ll be able to light a fire in your apartment…..