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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.

With a little ingenuity, an old fireplace insert can be transformed into a decorative centerpiece that infuses new life into any room. Consider placing LED lights or candles inside to create a captivating display that simulates the warm glow of a fire. Another option is to repurpose the insert as a charming bookshelf by adding rustic shelves within the firebox. For plant lovers, converting the fireplace insert into an indoor garden is a perfect way to bring nature indoors. You can also transform it into a stylish wine rack.

A fireplace is, by definition, an enclosed space where you burn wood or other fuel for the purpose of generating light and heat. A firepit burns wood and is much less expensive to build, but they aren’t technically a fireplace as it isn’t enclosed. An outdoor oven—commonly outdoor brick pizza ovens—often uses wood as fuel, but its primary purpose is to cook food, and you’d rarely just burn wood inside them for warmth or aesthetic reasons.

The lifespan of a chimney damper depends on several factors, including its material, how often the fireplace is used, and the amount of debris that enters the chimney. With proper maintenance, an average damper can last about 20 years. To ensure it is functioning correctly, it is best to have it professionally inspected. Some experts recommend an annual inspection, while others suggest having a chimney sweep inspect and clean it every two years. A professional can assess the damper's condition and determine if a replacement is necessary.