We are looking into an our door wood stove.

[CouponQueen23]

My dh and I have been considering getting and outdoor wood stove. Last year we figure we spent $1800.00 to heat with propane through the winter. This year probley won't be any better. I think he plans to use the stove to run out hot water heater off as well so he figures he wil be using a log every few days during the summer. The going rate for a truck load of wood in our area is $550.00 and from friends he figures that will heat us the whole winter. Then in the spring he hopes to drop some trees of our own land to keep the water heater in function.

Any way we don't have the money saved up. He wants me to see what options are avaliable to get financing. I don't want to rush into something but our time is limited winter will be here soon and we get a lot of snow in New york. I just think we are going to be pressed for time. I will not be much help I am 8 mo. prego. So he will be on his own stacking and what not of the wood.

I do understand his point of view this does seem as though this investment will save us a lot in the long run. He has also mentioned consolodating 2 c.c into a loan along with the money we will need for the wood stove. I don't think either of us a interested in a home equity loan. I am just wondering if anyone has other ideas. We have done personal loans in the past but intrest rates are really high. Not to mention they are only avaliable for 7 years which would put our payments higher than we want to budget for. I kind of want to wait and plan this project for next year but I know this is something he really wnts to do right a way. I am currious if this would some how be a right off on taxes for a home improvement. Please any information/ advise you have to offer I would love to hear it. Thanks!

[Seegers6]

Here are two links that might be helpful. The first one is a energy incentive loan program offered in New York. The other is a website that lists incentives by state. I know there is not a federal tax credit available but your state may have one so be sure to check the tax credits offered in your state.
New York Energy $mart(SM)
DSIRE: DSIRE Home

Have you checked out pellet burning furnaces? If not you might want to do some research. This may be a more viable option for you.

I was also wondering why you wouldn't want to do a home equity loan. The interest on a home equity loan is tax deductible and the interest rate would probably be lower than a personal loan.

[jillibean_1978]

$550 for a truck load of wood!??! I sure hope thats from a semi truck or something. In Indiana wood is like $50-$75 a load. Or the cost of gas for your truck and chainsaw and people just let ya cut your own. I guess New York doesn't have too many wood heated homes.
But I hope that you can find a way to get that. I have been in homes that heat by wood in the way you're talking about and it's very nice. Not like having the stove in the house....those are always too hot in the room they're in but a bit too chilly any where else lol

Jill

[meems]

Not awake enough to comment on the fininacial end..but...my neighbor has one of these, I will have to ask how it has saved them. From a neighbors POV, we HATE it, it smells HORRIBLE..it's not just a wood burning smell, much worse..LOTS of smoke & for us to go out & use our hot tub in the winter it's awful if the wind shifts our way. Not that any of this matters to them..or probably to you, but just had to vent somewhere, LOL!