Depending on the make and model of the fireplace, the cost of adding a fireplace to your home can be very low to very expensive. Fixr shares that the national average for installing an electric fireplace, which includes the unit and an electrician to install the wiring, is $750.
Although this number may not seem trivial, Fixr admits that homeowners who want a custom, installation that requires additional electrical work, tiles, and masonry can expect to spend $10,000. In fact, Dreifuss Fireplaces estimates that the cost of an electric fireplace before installation can nearly double for commercial models with prices going up to $20,000.
Apart from installation, electric motor owners should also consider other factors. While it’s obvious that an electric fireplace will increase your energy bill, there are other hidden costs that can also affect the cost of ownership and time. So, if you are looking for a fireplace in your new home, there are some things to consider.