What better way to turn your foundation from a dingy dungeon into a cuddly escape than adding a fireplace to the space? A fireplace adds both physical and emotional warmth to a space, making it feel more inviting. The flicker of flames is soothing, its gently glowing ambient light casting a soothing lull over a space.
In a basement natural light tenders to be lacking, due to the rooms location recessed in the ground. However the ever changing waves of a fireplace create a natural light focal point, which can actually turn the dim nature of this space into a cozy and private effect.
When choosing a fireplace for your basement, there are a number of things you have to consider. Gas or wood burning stoves / fireplaces are going to require some sort of venting apparatus. This can include a chimney, but is often as simple as hanging a tube out of a small hole or window.
Alternately, electric fireplaces generally do not require anything except a plug. They can simulate the look of a real fire reliably well, and they can even give off heat in whatever amount you like. The only problem with electric fireplaces is that they tend to have a shelf life, which is determined on the model you choose, and when they break, they are expensive to get repaired.
Another consideration when installing a fireplace in a basement is water damage. Basements in some areas are subject to occasional floods. An electric fireplace can be hazardous if it is left plugged in when a flood unexpectedly occurs. For this reason, you should leave the fireplace unplugged whenever you are not physically using it, and you should try and keep it in a place that is at least a little bit elevated.
To make this easier you may want to consider having a switch installed which cuts off the power to the plugs in the room whenever you turn it off.