I had my offer accepted on a waterfront house in Florida that was built in the 40's, and it has a smaller separate cottage in the back that still has the old slatted jalousie windows. i know that they have to be terribly inefficient from an energy standpoint, but they have a very nostalgic feel to them for a waterfront cottage.
I plan to rent out the main house and will likely do vacation rentals in the cottage (so we can use it ourselves). That said. would I be better off replacing them for the efficiency or leaving them for the ambiance? It's pretty small (580 SF) and on a shaded part of the property, so it probably isn't a huge cost factor either way.
Energy efficiency is overrated in areas with mild, temperate climates. You didn't say what part of Florida you are in, but jalousie windows are all over Los Angeles and add to the charm of those 50s bungalows. In bathrooms, they're often open year round.
My two cents -- save your money for other upgrades after you've spent some time in the place and know better what will make it more appealing to your vacationers.
It's in NW Florida, and near the water the temperatures don't fluctuate as much as they do inland. As you suggested, I like the charm, and we plan on furnishing it with a 50's mid-century feel as well.
There are some repairs that need to be done first, and we'll hold off on too may more upgrades until we have stayed there a couple times.
The main house, however, will get bit more TLC up front.
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