My wife does a lot of baking and quality extracts do get expensive. This is a recipe for vanilla extract at home using vodka and vanilla beans. You could also use rum, bourbon, or brandy instead of vodka.
Vanilla beans are expensive so try to buy in bulk, by weight and not by number of beans.
Step 1: Bottles
Dark color bottles are recommended for extracts. If you don't have them, clear will work just keep them out of sunlight.
Make sure to sterilize the bottles and caps before using.
Step 2: Beans
Split open your beans and scrape the insides, put everything into your bottles. You will need 4-6 vanilla beans per 8oz of alcohol.
Step 3: Alcohol
We use Tito's Vodka for everything. Use a funnel and fill the bottle with your desired alcohol. Cap tightly, shake, and move to a dark space.
Step 4: Infuse
It takes about a month or two for vanilla extract to become vanilla extract. So it's a good idea to make a big batch and store them in multiple bottles. Or you could do successive batches. Every 2-4 weeks, make a new batch of extract and store. This way you always have extract.
Step 5: Hide
Keep the extract stored in a cool, dry place, out of sunlight. When your extract starts to run low you can add more alcohol to the bottle and keep the batch going. Adding a couple fresh beans also helps.