Context:
-I live in Canada. I am 20 years old, and in university to become a Registered Nurse. I also hold a job as a hospital clerk, and have picked up an additional teporary job doing nursing support. These both pay well, and I will likely graduate with a small bouncing off point (thanks frugality) of about 30k, most of which will obviously be invested.
-My S/O (in school to become a teacher) and I (we are going to assume for discussion this relationship carries forward) have grown up with lots of rural influence. We want to homestead to make ourselves as environmentally friendly as possible and live cheap. We are looking for ways to reduce the need for any costs and be self-sufficient, ideally in a manner that makes things repairable. Please critique this plan. Avoid saying things like "this will be hard." We know. We ain't here for the easy ride.
The plan for the homestead:
Alright, so we've got several needs:
1. Shelter
We will likely build a house ourselves our of trees we fell on a rural property we buy. I have family help to do this- my father has built several homes, and I do indeed have two working hands. We will likely purchase a portable sawmill to do this (about 10k) which can also be used after this is set up should we need any wood. We will keep it small, probably about 700-900 sqft for the two of us. We do not intend on kids. Utility details to come later. Once we have the money to do this and are freed from our jobs, we will buy in one of the few areas of Canada that is warm. The area in question is also very cheap due to a terrible local job market, but that isn't our problem if we make our money elsewhere and then move. Cost once set up: Maintenance only, all done ourselves, so quite cheap. Let's say $1000/year.
2. Water
A well. We want it electrical (which we will supply with solar panels. This will serve for all water needs. We also want it to be manual, so if the electricity goes out we can still get water. Cost once set up: Solar panel maintaining. Minimal, so we won't worry about it.
3. Food
We wish to grow all of our own food, without exception. Squash, grains, vegetables, and chickens+eggs are on the menu. Now if only I can convince my S/O that a cow isn't worth it....
Cost once set up: How much does it cost to replace a hoe? Not much, perhaps chicken coop maintenance. We will re-plant seeds each year from previous years. $200/yr, very possibly negative if we produce extra and sell it. 4. Heating
We will heat using several things:
-Passive solar heating, which we will incorporate into the build
-Electric heating, considering the space is small and solar panels will supply it
-A wood stove, in case the above is unreliable in a particularly bad winter, and because I like my fire. We can get all the wood ourselves. Cost once set up: Again, minimal maintenance. I'm going to stop saying this.
5. Personal hygeine/Clothing needs: We do need medical and dental insurance (surprise, Canada only has a pseudo public health system). this will run us a couple thousand a year, let's say $3k. We can repair clothes, and having a sheep to make wool is on the table. We can make soap, but will very likely buy some along with toothpaste, shaving equipment, and the like.
6. The government not to take away our property due to lack of paying property tax: About $2k/year
7. A root cellar for food storage. Canning is king.
We estimate that, including 10-20acres of land, the cost to set all of this up will be $300-400k CAD tops in our target location. Ongoing costs, per this very vague estimate, are about 8k/year including maintaining things. A $150-200k portfolio would cover this well, and getting a job with our in-demand and varied professions would be a very easy stopgap, and with all this farming we will likely produce an abundance of food to either sell or give to the less fortunate to boost our income/social safety net with reputation that would come from donating it.
This puts our total "money we need in assets right now" to retire number at $450-600k. We could quite easily save this in 6 or 7 years, without any overtime or additional sources of income, after we graduate. We both have impressive resumes and connections, so getting jobs should not be too hard. We are going to ignore what money we have in CPP (basically social security, mandatory investment of about 6% of your income as a Canadain) so this will act as a nice little safety net for us.
Alright folks. Attack my plan. Show no mercy. We, together, shall make this homesteading idea bulletproof.
