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Running a gas fireplace is potentially cheaper than using central heating if you are heating a single room and don’t need to heat the entire house. That's because gas fireplaces are a better source of direct heat, making them more efficient for warming small spaces. Central heating, while more efficient for whole-home warmth, uses more energy overall. Strategically using a gas fireplace, therefore, can help lower heating bills.

The primary disadvantage of a ventless fireplace is that it doesn’t have an exterior venting system. This means that the byproducts from combustion are emitted into your home, which raises some safety concerns. In addition, ventless gas fireplaces produce moisture as they burn—and if there’s no ventilation, you could end up with a mold problem.

This will depend on the size of the pellet stove and how much of the house you’re heating, i.e. just one room or the entire house. Many pellet stoves use anywhere from 80 to 345 watts of electricity per hour. In terms of the pellets, a 40-pound bag can cost $5 to $9. A bag of pellets will burn for about 24 hours.

You can build a fireplace on an existing house, but it’s much easier to construct a masonry fireplace when building a new house. To add to an existing house, you’ll need to build a chimney and ensure the foundation can support a true masonry fireplace. Alternatively, you can purchase a gas or electric fireplace insert, which isn’t as complicated to add to an existing structure.