The Cost of Adding a Fireplace to Your Home

A warm, inviting fireplace is a lovely addition to make to any home. There are lots of choices to be made when deciding which type of fireplace you’d like to feature in your home.

The most traditional type of fireplace is a brick or stone, with a chimney built into your home. Brick and stone fireplaces can also often be the most expensive fireplaces to add to your home. Another type of fireplace, an insert fireplace, are much more common now, not to mention more affordable. Insert fireplaces require a fairly simple flue, and can be easy to install. Fireplace inserts are also produced a number of designs.

If you prefer a non-wood burning fireplace instead, gas and electric fireplaces come in many different styles, and with a number of features.

Wood Burning Fireplaces

Wood burning fireplaces are what many of us have come to expect a fireplace to be—wood burning, built with brick or stone, a chimney, and a firebox. Wood burning fireplaces are not installed as often these days, but many will agree, they can be the most stunning, and help form the centerpiece of a living area.

Wood burning fireplaces also need the most maintenance, from cleaning, to ensuring the mortar in the brick or stone is kept in good repair, plus chimney inspections and cleaning. On average, if you plan a wood burning fireplace for your home, you should budget at least $8,000 and probably closer to $15,000 to complete the project, with elaborate fireplaces costing more than that.

Wood-Burning Insert Fireplaces

A wood-burning fireplace insert is a more economical choice than a traditional wood-burning fireplace. The fireplace insert unit comes with a firebox and insulation. For a fireplace insert, the chimney can be a standard framed chimney, and will not require brick or stone. The flue will be a double-wall type with airspace between the walls. The advantages of fireplace inserts are that they cost less and are lower maintenance when compared to a wood burning traditional fireplace. Many inserts are fitted with blowers that heat air drawn from the room with the use of a heat exchanger, then send it back—or return it—into your home. Costs for this type of fireplace and chimney, range between $1,000-$3,500. If you want a framed and sided chimney, the costs will generally be between $1,500-$3,000.

Electric, Gas and Ethanol Insert Fireplaces

These types of fireplaces are growing in popularity because they are energy-efficient and come with a lower price tag, however, there are some differences. Some of the top picks are very cost effective and affordable.

Gas inserts require venting but electric fireplaces do not. These types are common in living rooms, kitchens, dens, and bedrooms. Depending on how elaborate the design is and what features it offers, the costs can start at approximately $500 and range up to about $2,000, sometimes more.

Hiring a Professional

If you’re considering a brick or stone fireplace, hiring a professional contractor is going to be your best option. The safety risks are too great to attempt to build this type of fireplace on your own. Wood-burning fireplace inserts are simpler to install, but you may also want to consider hiring a professional for safety reasons. Gas inserts can also present significant concerns, because you need to provide a gas line to power the fireplace, so to ensure your gas fireplace is properly installed, it’s best to call in a professional.

Without question, a fireplace will add beauty, ambiance, and an added sense of comfort to your home. Fireplaces can also add value to your home, increasing the potential asking price for your home by as much as 14%, making it a great investment for your home.