Absolutely. Your older style masonry chimney was meant to vent a lot of heat. With the advent of newer more efficient appliances, the small amount of heat being put up the chimney will almost all condense. If you don’t believe me, try this in when the temperature is cold outside, let everyone in your house take a hot shower, wash the dogs, and do your laundry. Go outside and see if any “smoke” is coming out of your chimney. There is a good chance there won’t be any. Do this same thing once you have installed the appropriate size liner. It will smoke shortly after you are on your first shower.