Vaulted ceilings, also called cathedral ceilings, have some great attributes, but others you may not be so fond of. On the one hand, they do give your room a light and airy feel, and they can make a small room appear bigger than it really is.
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But when it comes to energy efficiency, cathedral ceilings a bit of a bust, especially during the winter. That's because air you've spent your money to heat ends up at the peak of the ceiling, not down where it can keep you warm (although a ceiling fan can help with that).
As an energy-saving alternative, you might consider what's called a 'tray ceiling.' Tray ceilings look like conventional flat ceilings, except all but the outer part of the ceiling is raised a foot or so. The reduced height of a tray ceiling can help keep your heating bills within reason, but you'll still get some of that light-and-airy feel.
Before you start cutting into collar ties, be sure to check with a contractor or structural engineer.
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