Installing a woodburner could increase the value of your home by 5 per cent, according to the Daily Mail.
The newspaper reports that environmental awareness coupled with rising energy bills means that the presence of a wood-burning stove can make a property more valuable.
It says:
Soaring heating bills, environmentally-sound and clean fuels, and the return of people wanting more character in their homes have all contributed to a revival of the traditional fireplace and surround.
In fact, a feature fireplace can add up to 5 per cent to a home’s value. And at this time of year, the warm glow and crackle of logs burning in the hearth seem very appealing indeed.
On cutting heating costs, the Mail adds:
Heating just the room that you are in is certainly more cost-effective than centrally heating an entire house. Using wood as your heat source costs 2.5p per kw/h compared with gas at 4p and electricity at 11p, say HETAS, the solid fuels industry body.
Would that add up for your home?
Let’s do the maths to find out.
- Take the value of your home and multiply by 0.05 to work out 5 per cent of its value.
- Work out the cost of the woodburner you want. (The stoves on this list all cost less than £300.)
- Estimate the installation costs. £1,500 to £2,500 is a rough guide, but you could use our stove installation cost calculator for a better idea.
- Take the 5 per cent, then minus the stove cost and installation cost.
- The figure you’re left with is how much value your woodburner could give you before savings on energy bills are taken into consideration.
Does a woodburner make sense for you?
If you calculated that installing a stove would make economic sense for you, you might want to nail down the precise cost of the appliance you would want to install.