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Fireplaces can theoretically help you save on heating bills if you lower the temperature throughout the rest of your home and heat only a single room that you occupy using the fireplace. However, in most cases, homeowners won’t save any money on heating bills. Gas and electric fireplace inserts could actually lead to a spike in your respective energy bills if you use them frequently, and if you don’t keep up with chimney maintenance and repairs, your traditional masonry fireplace could actually be a source of heat loss in the winter.

In some aspects, yes, new wood stoves are better than old ones. For example, today’s EPA emission limits for wood-burning stoves are much lower than they were several decades ago. Stoves that meet these stricter standards produce less air pollution, reduce fire risks, and decrease your risk of inhaling harmful particles.

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.

In most cases, you should have your chimney cleaned and inspected once a year. Since different materials and conditions can cause creosote to build up at different rates, there might be times when you need to sweep your chimney more frequently. An annual inspection will help you determine if more frequent cleaning is necessary.