Buying or Selling a Home/The value of a fireplace

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QUESTION: Dear Jessica,
I live in a townhouse in Greenwich Connecticut.  Currently in my living room, I have an unvented, natural gas fireplace, which I hate.  I would like to just rip it out and not replace it, however I am concerned with how not having a fireplace will effect the value of my home in the future.  If I replace the fireplace, it will be a direct vent, natural gas model and it will cost at least 2200 dollars more than it will cost to simply have no fireplace at all.  Do you think it is really necessary to have a fireplace?

ANSWER: Dear Laura;
If it were Hawaii I would say--no problem but considering the winters in Connecticut I think that a fireplace is a very important feature. I realize that the cost is high to put in a vented fireplace, so how about keeping the one you have and just not using it?  You can always place a pretty decorative screen in front of it!

Sorry.

~Jessica Bryan

---------- FOLLOW-UP ----------

QUESTION: The problem with the current fireplace is that when the house was built the builder placed it very poorly, it is 30 inches deep and because of its placement, the entire room is losing about 15 square feet of space because very little can be placed around it.  It cannot remain where it is and my only options are to replace it or just gain the space.  I should mention that it is difficult to light and when it is lit, it is so hot no one can tolerate being within 6 feet of it.  I've shopped for other fireplaces, and they all burn just as hot, even if they are direct vent (vent free is not good for the air inside the house.

Does any of this change the fact that I'm much better having a fireplace - any fireplace - than not having one at all?

Answer
Dear Laura;
This does make a difference!  I would suggest taking it out and seeing if there is something you can do with a less expensive alternative.  I have seen (and used) fireplaces that are unvented with gas lines that really are more like a gas heater than a fireplace but look quite authentic with gas logs and automatic starters.  Home improvement stores offer them for less than $600 and they come in all kinds of designs with wood surrounds.  I still think that a fireplace is a valuable addition to a home in your area and if you take yours out you will take away value by at least $1,000 if not more.  My suggestion is to consult with a local real estate agent who has access to local MLS and can advise you on prices of sold units with and without fireplaces.  That will give you the real value.
Then, once you know how much more you get with a fireplace vs. none, you can decide what to do.

Good luck and best wishes.

Jessica Bryan

Buying or Selling a Home

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Jessica Bryan

Expertise

buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.

Experience

Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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