After reading somewhere that most home improvement projects don't actually increase the value of a house, I wondered if installing a gas fireplace or electric fireplace would be the kind of project that would increase the value of your house. Here's my findings:
According to one source, Fireplaces from Everything Real Estate, homes with fireplaces have a higher resale value because they are considered a luxury feature, adding class and sophistication to a home. They recommend: "If you live in a home without a fireplace and are thinking of adding one to improve resale value, the electric fireplace can be a good option because this type of fireplace is often the least expensive to purchase and install."
Another article, Will Gas Fireplace add to Home Value, concurred. It suggested the addition of a gas fireplace could add $2500 to the value of a home.
Also see Fireplaces Will Help Sell A House for information on the reasons why.