Woodstove installation scheduled for September

I went a little over on the $3000.00  budget but I wanted to get a nice stove that looks good and not just get by as I usually do. This is a big step up on the stove as it is for about 2000 square feet which is more than enough for my house. It also has a dual level cooking top for two zones of heat which gives me more options using the stove. I’m saving a bit of money and floor space going with this stove as I don’t need wall protection or as much distance from the back wall.  I should get a lot longer burn time compared to the little cast iron stoves I was looking at purchasing. I also get to look at my fire which I consider a major benefit.  There are always trade offs but I want a stove that is easy to use and I think the extra $400.00 spent over budget on the stove will make that happen.

I talked to my credit union and I can get a loan for the total cost and then pay it off early with no penalty. Not the debt free method but it works good on timing for me having stove installed as the shop is busy this month but lots of openings in Sept.  I can pay off the loan quickly even considering I went over budget. I figure it will take about 3-5 years for the stove to payback the original cost  depending on wood use/cost and how cold winter will be, but I gain peace of mind that I will control my heat and not the utility company or the PTBs.

Since I’m going a little over budget with the stove the Solar generator is not going to get all the extras I wanted to add on with panels, extra inverter and batteries. Once the wood stove is paid off I can focus on the solar generator and get it finished up. I have read so many stories about people that decide that they must buy everything they can/need on credit cards and when the world does not end they are in a major bind trying to make payments.  I still think paying cash as you go is the best, but I can see that taking out a small loan can also be an option.  Just make sure you can pay it off as quickly as possible. If you are getting  a loan with the lowest payment and longest term you might be making a mistake. That compound interest can really kill your budget!

So the basic payment for the loan can be paid my savings from the house refi, and then I will be paying it off as quickly as possible probably about Jan. or Feb. because of the extra cost of the stove itself. A little longer than my original goal of having it completed this year but not to bad considering all I wanted to get done in 2013.  Bonus is the stove will be installed and I can use it all winter and save money on the power bill.  I can plow that extra savings into the payoff of the stove!  So I could get it all paid off by Dec. if everything hits just right. I’m not counting on that, but it is possible.

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8 Responses to Woodstove installation scheduled for September

  1. Spud says:

    Too bad that I don’t still live in Emmett . I’ve installed many chimney set up’s and it is only a fraction in cost of what you’re paying. The labor is the killer !

  2. Jamie says:

    Spud, they are only charging $552 for labor and they are getting the permits. I really kick up the cost on the stove I picked out. But the stove should be good for decades rather than a year or two and replaced. Plus I think it will look good as I go to a more traditional 40’s kind of look. I really like the two step ccok top so it will be a multi tasker 😉

    • Spud says:

      Well, I stated. That would be $552 bucks which I could have saved you. Without seeing the type install you have I can’t really say how much the material cost would be.
      No doubt a step stove design is very good for cooking on !
      We have a “Timberline” in the cabin up at Pine, Id. been a real good stove for many years. Tho it’s doubtful that I’ll make it back there to use it when SHTF. But my Mom will, along with other family.
      Who knows, maybe I’ll get the hell out of this swamp and come back home….

      • Jamie says:

        Spud Insallation will be a highend with all double wall pipe. I don’t mind paying for the extra peace of mind knowing it is a safe installation.
        Actually I’m pleased I came so close in my estimate of cost so it’s not a surprise. This wood stove has a huge cooktop and I think by using my Igloo jugs I can make my beer on it.
        My Stove

  3. Karen says:

    Oh Jamie-it’s beautiful! What’s the brand of the stove?

  4. I love our wood stove. It’s really too big for the space we have, I have to be careful or all of a sudden it’s 87 degrees in the house. Ours is a 10 year old prototype from a guy that used to design stoves. I wish it had a glass door so I could see the flames. I don’t let anyone turn on the heat in the winter, it’s all wood stove heat and extra blankets. Even when we had that -12 at Thanksgiving a few years ago we were toasty warm. I’ve made chilli and simmered chicken stock all day on that stove.

    • Jamie says:

      Everstuff: Yeah I really wanted to see the fire and paid extra for the glass. The installer warned me about the stove doing a very good job at heating and not to be surprised if I need to open a window until I get used to using it.
      I think I will be able to do my beer on the stove if I used my big igloo coolers for the 154 degree steep of the grains and then boil the wort on the cook top. I have thought about getting one of those little Coleman Camp ovens that sit on a grill or fire for baking bread. Those are about $40.00 and might add more uses to the stove.

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