Wondering about the cost to build an off-grid home? How much does it cost to start a homestead? This young couple started a homestead in the country and are documenting their expenses every step of the way.
A year ago to date, Jesse and I decided that we wanted to buy some property in a remote area of the country and to start a homestead from scratch, including the building of our own home (read part 1 and part 2 about that decision). Our end goal was to be debt-free, have freedom and work on being as self-sufficient as possible.
While we understood how starting our own homestead and building our own home from scratch could help us to achieve our financial goals in a timely manner, we knew that we would need a substantial amount of money to get the ball rolling. Last we checked, land was not free, building materials weren’t free, tools weren’t free, and getting a loan for the entire deal would be working against our goals.
We knew that if we tried to take the frugal approach to this journey that we could soften the financial blow, but we still didn’t know what to expect. We ran some rough numbers in our head as to what land would cost, what the down payment would be, what an RV would cost and what various aspects of land development would cost. That said, all we could do was estimate the total cost to get started, save up some money and roll with the punches.
We started our journey just five months ago, have spent over $30,000 on various aspects of the journey, and thought it would be helpful to others to document what we spent money on so far as some expenses were more predictable than others. The thing to keep in mind is that while our initial investment in our homesteading journey is high, the expenses will taper down over time as will our monthly expenses. It will fast-track us to financial freedom.
We thought it would be helpful to break down our expenses for not only our own benefit, but to provide insight to anyone else who is interested in embarking on a similar journey. We will be providing detailed expense reports on our blog monthly, so bookmark that page if you’d like to stay up to date, but here is what our expenses have looked like by category.
The thing to keep in mind with these expenses is that these assets help us to build our home for a fraction of the cost of buying a home and having a mortgage, and we can resell them if we need to or when we are done. Instead of having money sitting in our bank accounts, they money is wrapped up in physical assets
The goal is to eventually eliminate, or significantly reduce these expenses, as we get closer and closer to being self-sufficient while living off the grid. However, this is what our monthly expenses look like five months into the journey as it pertains to this type of lifestyle (excluding personal expenses that we’d have on or off grid at this point such as groceries or car insurance).
While we are still in the money-spending phase of our journey, we are slowly acquiring what we need to be self-sufficient and build our own home. If you would like to see detailed, itemized expenses by month, be sure to check out the expense reports page on our blog. We will be publishing expense reports monthly as a way of sharing our (hopefully duplicateable) progress with others. We invite you to follow along!
Alyssa Craft moved to Idaho after purchasing 5 acres of land where she will build an off grid homestead from scratch with as little money as possible. Follow her many DIY projects, including building a timber frame barn, an off-grid hot tub and starting an organic garden. Find Alyssa on her blog Pure Living for Life.
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