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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.

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.

A quality pellet stove that receives proper maintenance can last between 15 and 20 years, while most will last at least 10 years. The exact lifespan depends on factors like frequency of use and how well the stove is cared for. Proper maintenance—such as periodically cleaning the vents, vacuuming the ash pan, and refreshing the pellets as needed—can significantly extend its life, making it a worthwhile long-term investment.

In many cases, it is worth repairing an old fireplace. You can repair any portion of the fireplace, and even extensive repairs will usually cost less than a full replacement. Most fireplace repairs cost around $600 and top out around $2,500. Replacing your fireplace will cost around $2,500 and reach as high as $4,000. Not only will fireplace repair save you money in most cases, but the process is also much less invasive and time-consuming, so you’ll only have to set aside one day to be home for the work rather than multiple days.