When we initially purchased this project house, we had no plans to remodel the fireplace. Unfortunately, it just looked sad and old once we painted and put in new wood floors. So, we took the old out and put the new in. Below are the before, during and after shots. We purchased the stone "stuff" at a local place in Granger and the mantel is a heavy, solid piece of wood (that we painted black). We found a mill in Decatur, MI for the mantel and had the wood piece cut, planed and sanded there (all for the bargain price of approx. $100!).
We have loved all the upgrades, but this one has had the largest impact and was the cheapest (about $350 total). If you have a fireplace and don't love it, only a few hundred dollars could change that.
Before:
During:
After:
I can even enjoy it from the kitchen!