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If you want to add a fireplace to your existing home, ask yourself what value it brings to you and your property.
1. Is It Possible?
With the variety of fireplace options available today, from traditional wood-burning masonry to wall-mounted ventless units, it would be difficult to imagine a situation in which it would be entirely impossible to add a fireplace of some sort.
2. How Much Will It Cost?
Costs for materials and labor to add a new fireplace can run the gamut from several hundred dollars to $20,000 or more. Among the most popular options, a factory-built gas/propane fireplace unit runs about $2,000 for a basic materials package; add to that at least another $5,000 for the cost to hire professional tradespeople to cut a hole in an exterior wall, frame and build a chimney, install the fireplace, and add a surround and mantle.
3. Will I Recoup My Up-Front Costs?
A fireplace generally isn’t calculated separately in a professional home appraisal, though real estate salespeople often consider it to be a hot button among potential buyers.
