While many people choose a log burner to fulfil a dream of a cosy home, others are much more practical! One aspect that you might have considered in your purchase of a wood burning stove is – will it increase the the value of my home?
The truth is, wood burners are a long-term home investment. While they do come with a set up cost, they can in fact help you save money in the long term by helping reduce your reliance on rising energy tariffs.
Wood burners can add value to your house, too. In fact, we have done our research and have found most sources suggest your home value can increase by up to 5% by installing a log burner!
How Much Value Can a Log Burner Add to Your Home?
According to the House Price Index, the average home value in the UK in 2019 was £235,288. If we add the potential 5% extra value of a wood burner onto this, it would increase to £247,052 – this means an added value of £11,764!
Of course, house prices are dependent on numerous factors and economic fluctuations, so this is sure to vary.
You would also have to deduct the cost of installing your stove from this to calculate your profit. For a home with a pre-existing chimney, the purchase and installation of your log burner could be covered by £3,000, depending on what model you have in mind. According to our average home value example, this would still leave in excess of £8,000 profit.
If you don’t already have a chimney, the cost of installing a log burner will be higher as you will need to install a twin wall flue system. This could cost around £3,500 in total, so be aware of how much work needs doing when weighing up whether it is worth it in terms of adding home value.
However, on the other hand, you could also take into consideration the energy savings you could benefit from during your time living in your home with your stove, which would further offset the expense while adding value to your home.
Why Does a Log Burner Add Value to Your House?
An increase in home value sounds great – but you might be wondering exactly what it is about wood burning stoves that makes them a good option for bumping up the price tag of your house?
Well, we’ve put together a few reasons why wood burners are great for increasing the value of your home…
The work for installing a wood burning stove is minimal
Home renovations can be costly and disruptive to your day-to-day life. While new bathrooms, kitchens and loft conversions often return a higher yield on your house value, they are also costly and can take from a few days to even weeks.
Wood burning stoves, on the other hand, are a relatively safe investment. If you already have a chimney, replacing your open fire with a stove should be very straightforward, while installing a twin wall flue externally should cause only a little disruption inside your home.
What’s more, the initial set-up cost is relatively low compared with some other home improvements. As we suggested above, the potential savings on heating bills could also help offset the cost.
Related: Stove Installation Advice
Log burners are back in fashion!
The 1960s and 1970s were a sad time for fireplaces! Central heating systems and new gas appliances led to many people bricking up their fireplace openings as solid fuel fireplaces were seen as a thing of the past.
Today, we are seeing something of a renaissance in wood burning. In place of dirty open fires, we now have clean and convenient stoves that are not only practical, but also look incredibly stylish in our homes.
According to the Stove Industry Alliance, wood burning stoves have surged in popularity over the past 10 years, and are now present in over a million UK homes.
As trends show us leaner further still towards renewable energy sources, the growing fashionability of wood burning stoves is sure to be a factor in their ability to increase your home value!
Wood burning stoves can be carbon neutral
As we said in our last point, the demand for cleaner and renewable energy sources is bigger than ever as our concern for the environment grows.
Despite news stories in the past year claiming wood burning stoves will be banned, the truth is actually the opposite. Modern Ecodesign stoves could be part of the solution, as they produce less air pollution than older stoves and open fires by burning incredibly cleanly.
When properly seasoned wood is burnt efficiently, it is actually a carbon neutral process. This is because the CO2 produced by burning it is offset by the CO2 absorbed by the tree in its lifetime. Many firewood suppliers also commit to replanting every tree they cut down.
Good quality wood also emits less CO2 when burned than when it is left to decay naturally.
With more and more of us becoming environmentally conscious, the clean credentials of wood burning stoves are making them more desirable – so, houses with them already set up are becoming more valuable.
More information: Are Wood Burners Bad for the Environment?
Wood burning stoves offer efficient and cheap heating for homes
Finally, another factor in how valuable your home is based on how efficient it is.
Installing a new boiler, central heating and double glazing are all among the top ways to increase the value of your home. And, what do all these things have in common? They help make heating more efficient.
A wood burning stove can offer a similar prospect. A good quality Ecodesign stove can exceed 80% in efficiency – this means that over 80% of the energy used from burning the fire is converted into heating for your room.
So, if you are thinking of installing a wood burner to help improve the value of your house, choosing an efficient, Ecodesign model might be your best option.