With all the buzz about the Super Bowl coming to Minnesota (home of our headquarters) next year in 2018, there is a reported uptick in property rentals and home rentals. Projections are that listings on Airbnb over the next year will sore. Whether you’re giving some thought to temporarily or permanently renting out your home, or gearing up to make your vacation property more appealing, everything you do should consider lasting value.
When you’re thinking about improvements for your home or vacation rental, your initial motivation might be simply making your property a better place to stay. But for a lot of people, regular property improvement also carries the benefit of boosting the resale value if and when the time is right. There are plenty of good reasons for adding an alternative heat system to your rental property, and increasing its value is definitely one of them.
Increase Property Value: Four reasons why adding alternative heat to your property is a good investment
- Reap both the value of an upgraded heating system and cheaper fuel. Any time you upgrade the heating system in your property, you’re likely to increase your its value as you’ll have a newer system that will likely work more efficiently and last longer than your old system would have. Upgrading to an alternative heat system such as wood pellet stove or fireplace will give you access to a less expensive and renewable fuel source, as well. So you’ll get the benefit of increasing your property value while potentially reducing your heating bill.
- Buyers and renters evaluate heating costs. Sophisticated buyers factor utility costs into their purchasing decisions. With the efficient alternative heat systems available on the market, such as our Magnum Countryside pellet stoves and fireplaces, you’ll be able to make lower utility bills one of your selling points should you put it on the market or have vacation renters responsible for heating costs.
- Green improvements resonate with everyone. In a tough market, any small advantage or amenity can help rent or sell your property. As energy becomes more and more expensive, small improvements like an energy-efficient fireplace or the addition of a Magnum pellet stove, could be the thing that causes someone to choose your rental property over a similar property without any energy-saving improvements. While industry trends certainly indicate that green building is the wave of the future, some studies have found that green improvements are already positively affecting resale value.
- Lastly, let’s face it. Many people vacationing in a colder location than what they’re used to will appreciate the warm ambiance and radiant heat of a pellet stove or fireplace, making it a desirable selling point.
Your renters will love the warmth and beauty of a stove or fireplace
Alternative heat can pave the way to lower energy bills and give you the satisfaction of knowing that you’re helping the environment. And if that’s not enough motivation, let the prospect of increasing your property appeal and value be another selling point if you’re considering a new wood pellet stove or super-efficient fireplace insert. Give our heating specialists a call at +1 (800) 495-3196 to answer all your questions.