Correct. Good thing is it allows flexibility of where to put it. I own one, in a L shaped ranch and it definitely has some downsides. It's pretty loud, you hear the pellets clink when they drop. Mine also uses more than a bag a day when I kept it on a setting of 3 out of 5 because if I drop it lower the front of the house cools down to about 62. Mine supposedly heats 2000 sqft and my house is only 1500. Refilling can be a pain in the ass too. I bought a breckwell so could just be my model. In the right house they're probably great. Just the little things to think about that I wish I knew ahead of time. Still definitely cheaper than oil.

Also. That 350 a pallet is for lower quality pellets with high ash content. The better stuff at the high end is 500 pallet.