Maybe you’re thinking about the upcoming winter and wondering how you can stay warmer and more comfortable. Maybe you’re picturing different ways that you can make your living room cozier and more inviting. Or maybe you’re just interested in making a home upgrade capable of increasing the value of your house.
In any case, you’ve come to the conclusion that installing a fireplace is the right move. But before you can move forward, you need to understand exactly how much installing a fireplace is going to cost.
First Things First
Before we dig into the finances of installing a fireplace, there are a few things we need to establish.
First, there are many different types of fireplaces available. It’s incredibly difficult to provide a singular, universal estimate for fireplace installation because of this. Fireplaces in the modern era can use a variety of different fuels, including wood, electricity, and different types of gas, and they come in many different shapes and sizes. On top of that, every home is different, so the installation process varies dramatically.
Second, not every location can support a fireplace. There are some areas that restrict or regulate domestic fireplaces, so make sure to do your research before you move forward with this decision.
Third, it’s possible to do the installation yourself and save money on labor costs. However, this is not recommended. Fireplaces must be installed according to strict safety standards to remain safe and operational. If you don’t have any experience doing this, you’re better off calling a professional.
The High Level
Installing a new fireplace could cost you as little as $870 and as much as $3,792 if you’re a typical homeowner. Most people end up paying around the national average of $2,314. This is relatively inexpensive when compared to other home renovations and upgrades.
Factors That Influence Cost
This is already a wide range, and it gets even wider when you consider just how many factors can influence the cost of fireplace installation. These are some of the most important factors to note:
· Existing structure. What is the existing structure of your home and does it support a fireplace already? For example, do you already have a flue and a chimney? Do you have an existing fireplace that you’re trying to replace? If so, these scenarios should reduce the costs of installing a new fireplace. However, if you’re going to need major remodeling, you can add a few thousand dollars to your total costs.
· Fireplace type. The costs of installation also depend on the type of fireplace you’re getting. Obviously, the bigger the fireplace is, the more expensive it’s going to be. Costs also fluctuate based on the materials you’re using, the style you select, and the fuel type of the fireplace itself. Shop around to get a feel for the price levels for all these different models, so you can choose something within your budget.
· Labor. Since you probably won’t be doing the installation yourself, you’ll also need to think about labor. Some contractors are more expensive than others, so get multiple quotes from experienced professionals and choose the best fit for your needs.
· Ventilation needs. Depending on the type of fireplace you get, you may or may not need to make accommodations for additional ventilation. If you need a more advanced venting option, it can drive up your costs.
· Wiring needs. Electric fireplaces also require access to wiring. In some cases, this may require advanced electrical work that pushes your costs higher.
· Customizations. If you’re doing any customization work, you can expect your price to increase as well. If you purchase a prefabricated unit without any modifications, you can reduce your fireplace installation costs significantly.
· Old fireplace removal. What are you going to do with your old fireplace? Your installer may be willing to take it away for you, for an extra fee.
· Secondary costs. When calculating the costs of installing a fireplace, it’s a good idea to include estimates for secondary costs as well. It’s going to cost you money to keep your fireplace operational, whether you buy firewood regularly or simply add costs to your existing electric or natural gas bill. Make sure you understand these costs so you’re not surprised later. Additionally, you’ll need to make plans to regularly inspect and maintain your fireplace; eventually, it may need repairs to return to operation.
There are many good reasons to install a fireplace. For some people, it’s just a supplementary source of heat. For others, it’s the perfect setting for comfortable, relaxing socialization. And for still others, it’s an inexpensive way to make your home more attractive to potential buyers.
Whatever your motivation is, knowing the typical costs and options can help you make the right decision for your goals.