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Gas fireplace inserts are considered the most efficient because they convert more of the fuel source—gas—into heat. They offer excellent heat output per the amount of fuel they use. While electric fireplace inserts are praised for their efficiency, keep in mind that they don’t offer as strong a heat output but may still be a great choice if you want an efficient option.

There are several ways to determine if your chimney or fireplace damper is open or closed. A simple method is to check for airflow by placing your hand near the fireplace opening; if you feel a draft or hear wind whistling, the damper is open. An open damper might also make the room feel cooler, similar to the outdoor temperature, or cause your HVAC system to work harder than usual. For a more definitive test, you can try a visual inspection, although it may be difficult to see. Alternatively, you can light a small piece of paper and observe the smoke; if it is drawn up the chimney, the damper is open. Always use the damper handle to adjust its position.

A fireplace can increase a home's value by as much as 12%, with some reports indicating that homes with fireplaces list for around 13% more than the median sale price. Fireplaces are both functional and aesthetically pleasing, adding a charm that many homebuyers find desirable. The actual return on investment depends on the fireplace's size, type, and material.

However, a fireplace can detract from a property's value if it is unusable, not up to code, or in need of immediate repairs. The type of fireplace also matters; custom electric fireplaces and inserts can add value, while freestanding units that can be removed have less impact.

You can close up a chimney instead of demolishing it. Homeowners often go this route because the cost of removing a chimney, especially a structurally important chimney, can be expensive.

Properly closing up a chimney involves closing and sealing the damper, installing a chimney cap damper, and sealing the fireplace opening with a door or bricks. The cost to seal and cap a chimney is around $500 to $650—significantly less than the average chimney removal cost.