VIDEOClick to see full answer. Keeping this in consideration, can you install a wood burning fireplace in an existing home?A: For the easiest installation, choose a direct-vent gas fireplace. You can install this type of fireplace on any exterior wall, and it will vent directly out the back. If you want to add a wood-burning fireplace, that’s not impossible either.Secondly, does adding a fireplace increase home value? A homeowner can often recover over 100 percent of the expenses associated with adding a fireplace upon selling their home. According to the National Association of Real Estate Appraisers, adding a fireplace to home can increase the resale value of the home by as much as 6-12 percent. Likewise, how much does it cost to install a wood burning fireplace? Fireplace Cost Fireplace installation costs between $100 and $5,600 depending on the type. The cost to install a gas fireplace is $2,300 to $4,000, a traditional wood-burning fireplace runs $1,900 to $3,300, and an electric fireplace costs $100 to $2,200.What is the average cost to install a wood burning fireplace?Costs will vary depending on the specific type of fireplace you want to install. The most popular model is the traditional, wood-burning fireplace, but there are also electric fireplaces and gas fireplaces. In general, the average fireplace installation cost is roughly $2,000.