I'm starting the new year with some more home improvements and am quite curious as to the cost analysis. Started this last February but didn't really keep track of it until now...In 2011, we spent $2,722 on 936 gallons of oil heat from Jan-Dec. That's an average of $7.45 per day and 2.56 gallons per day. Given that the price varies as well as the number of people in the house (blended families with 4 pre-teens, hot water is via the furnace, and the laundry never seems to be complete), I'll elect to analyze the data on a per-deim cost analysis. We'll have to report back in one year to see how the investment has affected our investments.
Of course, the insulation was installed in February, so in my opinion, that initial investment paid off.
1. Expanding Insulating Foam in crevices in the TV room. Noticed immediately the draft is gone. However, I have to thank our resident mice for getting me to finally act on this problem...no thanks to our resident cat (who is still vying to get the last of the caged gerbils...but not the free range mice).
COST: $12 for two cans of foam
SAVINGS: tba
2. Insulating Rubber Weatherstripping along the front wood door. I love this door - but it's solid wood and conducts the cold...and it's not square. Shoved lots of insulation into the cracks but never caulked the bottom (where you could see daylight! for 11 years!!! stupid me!). Instant difference - just a few minor cosmetic adjustments, brown paint over the white caulk, additional rubber trim - but the drafty door has been conquered!
COST: $1 tube of caulk and $16.50 for three 17' sections of rubber weatherstripping.
SAVINGS: tba
3. Drafty bathroom window. Bring on the tube of caulk, as well as a pack of shrink-wrap for the window. Fairly easy to install, and I finally got to use my hairdryer...Draft gone... until the bathroom will be gutted this summer and that window and wall are started from scratch!
COST: $1.46 per window (package is $8.79 for 6 windows)
SAVINGS: tba
4. Attic insulation. This was actually completed last February, but could only look into the cost analysis over the course of this winter. Noticeably warmer overnight on the second floor.
COST: $360 (12 rolls R30 at $15 each)
SAVINGS: tba
5. Heating the house with wood from Storm Damage Compliments of Eric, we are taking advantage of Mother Nature's wrath to help heat the house. The wood was free, as we gathered much of it ourselves after the October storm, but splitting and stacking it has been a family affair. It's free wood, free labor, and time well spent with the kiddos contributing to the household. Win-Win-Win!
COST: Free (minor fee for gas for the chainsaw)
SAVINGS: tba
Totals: approximately $400 investment
Time to recoup costs: at $7.45 per day - 54 days.
Based on this analysis, our investment will be recouped by Mid-February. Hopefully Mother Nature and the Financial Gods will be kinder to us as well. Price alone, oil has practically tripled in the last 13 years...
