Hello all!

I’m slowly renovating an old farmhouse in zone 5.  The house is balloon-framed, with wooden weatherboard/siding on the outside, and T&G on all the inside walls and ceilings; nothing between the two but air.  I’d love to get some feedback/ideas on the best way to go about insulating the house.

My preference would be to keep the T&G, rather than sheetrocking over everything.  I am living in the house, and planning to do most of the work myself.   

My current plan is:

Start with the attic.  Currently there are old fiberglass batts in the joist bays.  My plan is to pull the old insulation, put foam board in the bays, seal the edges, and add a couple of layers of new fiberglass over that.

For the walls, I was thinking of pulling the T&G (hopefully preserving it), then adding spacers and foam board, batt insulation, and finally replacing the T&G.

I know that I need to replace all the windows as well, but I don’t know that I have the budget to do that yet.

A couple of questions that come to mind:

1. If I can’t do it all at once, is attic, then walls, then windows a reasonable sequence?

2. For the walls, would I be better off pulling the siding, and working from the outside?

What else am I not considering?  Are there better approaches?  And am I crazy for doing this?  Appreciate any thoughts or perspective that folks might have, especially if you’ve tackled something similar.

Thank you much!