A few of my friends and I are discussing planning to pool our resources in retirement and build a home to grow old in.
One of the reasons we’re doing this is a paucity of relatives to rely on in old age (none of us have children), but also by pooling resources we’ll make our financial situation more secure. Let us worry about financing this thing, that’s not what I’m interested in researching here although information about costs (and cost controls) are welcome.
Yes, I’m aware there are risks in doing this. Assume the friendship will last, we will engage lawyers to sort out potential legal issues regarding ownership, survivorship, etc. in our planned state of residence. That’s not what I’m asking here.
What do we need to know about building a home?
Some of us are home-owners at present, but none of us has ever built a home before. I should add that will need to hire a contractor(s) to do the bulk of the work as none of us are going to be able to do this as a DIY project due to a combination of lack of building expertise and being middle-aged (I’m the youngest and in my late 50’s).
So… what do I/we need to do to get a home built in accord with our needs and desires? Pitfalls? Suggestions? Costs? How do you calculate costs for this sort of project? (Again, we’ll worry about coming up with the money if this looks feasible)
What do we need to know about building an off-grid home?
At present we are in a research/planning mode on this. We’re looking to see just how feasible this is and what would be involved in making it happen.
We have land. A number of acres owned free and clear, no encumbrances, no liens, clear title and deed. It is also completely undeveloped with no utility connections. If we opted for for “town” power/water/etc. we’d have to pay to have power lines, etc. laid. Which would be expensive. Actually, there’s zero option for “town” sewer, we have no option but septic. Linking to the grid will cost tens of thousands in this location due to needing certain infrastructure installed. There are other homes in the large general area. They are all off grid at present except for those in the nearest town. Yes, the neighbors are also a potential resource of information (they have been very good so far at discussing costs of a well/septic system) but (so far as I know) none of them are here and it’s here I’m asking.
So, since we’re doing this from the get-go, we’re looking into making this all off-grid from the start.
What can you tell us?