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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.

Chimney caps are necessary both from a building safety standpoint in most municipalities and to keep your home protected from a variety of issues. Chimney caps are not only mandated by building code in most areas, but they also serve to keep squirrels, raccoons, and other pests out of your home, as well as snow and rain. Therefore, they help to avoid property damage, making them a worthwhile investment.

Running a gas fireplace costs approximately $0.35 per hour for natural gas and $0.62 per hour for propane, though these figures can vary significantly based on fuel prices in your area. On average, the annual cost to run a gas fireplace is between $400 and $640. The exact impact on your utility bill depends on several factors, including how often you use it, the size of the room you're heating, and the fireplace's BTU rating. Some models with a constantly running pilot light will consume a minimal amount of energy even when off, although many modern fireplaces do not require one. If you are looking for a more energy-efficient option, consider an electric fireplace.

A chimney cap costs about $300 on average to install, with prices ranging from $75 to $1,000. The final cost depends on several factors, including the professional you hire, the accessibility of your chimney, the cap's material and size, whether any repairs are needed, and if it requires custom fabrication. Chimney caps are usually made from galvanized steel, stainless steel, or copper. Copper caps are the most expensive, followed by stainless steel and then galvanized steel. Excluding labor, average material costs are around $100 for galvanized steel, $250 for stainless steel, and $600 for copper. You may also face additional costs, such as hiring a chimney sweep to clean the chimney before the cap is installed.