Upgrade That Pays
According to the National Association of Home Builders, fireplaces rank among the top three features desired by new homebuyers. Unfortunately, fireplaces are also major air gaps—they can send up to 8 percent of valuable furnace-heated air flying out the chimney, making them really fun to look at but inefficient as heating sources. Here's the good news: You can transform your firebox into an efficient room heater by adding an insert.
An insert, installed by a factory-trained professional (to ensure proper venting and best efficiency results), will draft-proof an open fireplace while the unit's shell keeps heat in the room and away from the masonry. As an added bonus, this upgrade is one way you can get your cut of the Stimulus Package; in most cases, adding an insert before December 31, 2010 qualifies for a 30 percent tax credit of related costs up to $1,500—that includes installation labor and piping costs.
A new insert can set you back about $2,000 to $4,000 (professional installation included), depending on the state of your existing chimney (does it need relining?) and the model you select. Sure, the tax credit is a great incentive to make the change, but even without the federal payback, this investment pays for itself by slashing those monthly heating bills. Ready to start shopping? Here are 8 models to consider.
