indoor furnace or wood insert?

Currently Im heating my 1200sq foot house with an oil burning furnace which is located in my finished basement. With the cost of oil I am starting to look for other options for heating. I have narrowed it down to either getting a wood insert for the unused fireplace on the main floor, and using oil as a back up or getting one of them napoleon HMF100 wood burning/electric furnaces to replace my existing oil furnace which is only 5 yrs old. I have been searching for reviews on the napoleon furnaces but have not been having much luck. I have read that wood furnaces are not very efficient and you can go through a ton of wood and then I have also read that wood furnaces will use less wood then any wood stove or insert. So right now im confused as I have been reading contradicting statements. What would be my better option for saving money.

Can't help with the efficiency question, but for me there would be no choice. I love wood heat, but I also love the fact that it warms my soul, so I need it where I can see it and enjoy it. To each his own.

I would look into a nice insert. There are very few woodfurnaces that are smaller that wouldn't run you out of your home. There are horror stories of wood furnaces where they are stinky, dirty burning wood hogs. Things are getting better and there's some very efficient clean burning models on the market, some even EPA certified. You wouldn't have to eliminate your oil furnace since it's only 5 years old, you could add-on to the oil and run things in series. Since you only have 1200 square feet, I would consider an insert. A wood furnace could work but most will roast you, forcing you to keep the fire down which will effect the burn. The one benefit of a ducted unit like a furnace is a constant heat through the whole home. Depending on your layout that could possibly be achieved with an insert.

What are the dimensions of the fireplace? That would determine what your options are for an insert. I would look at that first. Keep in mind that you'll most likely need a liner for the chimney.

Napoleon is building a nice looking furnace. That's the first I've looked at them. I bet they are pretty spendy. You'll also need a properly sized class A chimney for it. More $.

What is your budget?

That's the first time I've seen those furnaces. If the ratings are correct, close to a 40,000 btu output on average. Not a large furnace and something that's a better size for the home, not sure how the burns would be with a 1.9 cu ft firebox. If your basement is finished getting the heat from above downstairs may pose a problem.

the fireplace is 30 inchs wide 22.5 in height and 19 depth. I have went to one of the local dealers they have a deal for a pacific energy super insert at $3100 installed im waiting on the other local dealer who deal in napoleon hes gonna get back to me on the price on the napoleon furnace and insert. While im at it do both of the above companies sell good quality inserts? also my only concern with the insert is I spend alot of time in the basement and Im worried that the insert being upstairs I might not be able to heat down stairs

Hard to move heat down with a wood stove or insert.
Outdoor furnace wood burner mean you are always going outside to check & load the beast.
I'd go insert in the fireplace & save lots of $$ on oil heat. May not use much oil to heat just the basement.

Could always look into a woodstove in the basement, that's where mine is & I have good success.
My furnace forced air blower comes on a few times per hour to move air around.
I understand the price of oil pushing you to burn wood. If you do an insert upstairs, it'll help lots on the oil bill.

Have you considered a free standing stove installed in the finished basement? I would either do that or get an insert and leave the newer furnace, it'll be more cost effective. Both stoves you mentioned are pretyy good heaters.

Insert upstairs to cut down the oil bill and do most of the house heating. See how that works overall. If the rest of the house is warm and the basement well insulated, options to warm the basement for not much extra are not complicated; a small electric space heater might do well enough.

There are also pellet stoves and furnaces that will be operated by thermostat at a significant savings over oil.

I would go with an insert or free standing stove . . . either upstairs or in the basement if the basement is finished.

I suspect going with an insert or free standing stove in a home this size would be cheaper with the upfront costs and cheaper in the long run in terms of efficiency and burning less wood.

I would also keep the oil furnace since it is only five years old. Heck, I put in a woodstove only two or three years after I replaced my oil boiler . . . which is now relegated to providing me with back up heat while my Jotul is charged with the main heating responsibilities.

If you go with the insert or stove upstairs you can always run the oil furnace downstairs when you need it . . . or even go with a small electric space heater if you use it once in a while.

Well thanks for all the help. I came to the conclusion that im gonna just gonna go ahead and get an insert and just use an electric space heater when i need to when ever im down stairs.

Good luck, sounds like the best way to proceed. You'll still have the oil furnace in case, but you'll probably cut its usage down to very occasional and save a lot of money.

I'll cast one more vote for the insert or stove upstairs. It will be nice to have the oil as a backup in case you don't want to use the insert or you leave the house for a few days. Plus I think the insert will be a lot cheaper than a new wood furnace. I bet you can reduce your oil consumption 80 or 90% if you are dedicated to burning wood (this will depend on how much you use the basement, where the wood heat won't have much effect). I guess the oil furnace is an indication that you do not have natural gas at the house. Gas prices are low right now and expcted to stay low for a few years.