Are Off the Grid Homes for Sale A Good Investment? (2024)

FAQs

What is the disadvantage of off-grid living? ›

High initial costs — The cost of living off the grid is significantly lower than the alternative. But it usually does require a sizable investment at the onset. Some grid-free transitioners shell out several thousands of dollars for their first infrastructure.

Off-grid homes cannot be financed using traditional mortgages, so you'll need to look for nontraditional home loans. Some local credit unions and banks may offer these. For example, VSECU, a Vermont credit union, offers mortgages specifically for off-grid homes.

Positive impact on the environment: In an off-the-grid life, you'll likely rely on renewable energy sources, such as wind power or solar energy. In doing so, you'll no longer consume fossil fuels — like oil, natural gas, and coal — which are heavy water and air pollutants.

If you pay cash for your off-grid home-build, you won't have to pay a mortgage. You will, however, still have to pay property taxes. Property taxes are calculated based on the value of the property — which includes both the land and the structures on it.

Setting up your energy source as well as your water supply and waste disposal can be expensive. Lots of work is involved. You need skills, especially when setting up your home, including knowing how to set up the energy and water supply. You also need to know how to grow your own food and possibly hunt.

High Initial Cost:Setting up your energy source, water supply, and waste disposal will require a high initial expense. Lots of Work is Involved: When you go for an off-grid living, you have to do a lot of work, like maintaining power and water sources.

These factors significantly impact the overall cost of living off-grid. The startup cost of going off-grid is $10,000-$500,000. You can spend as much as you have. But, on average, the cost of buying land, building an off-grid home, and securing utilities and resources is $50,000-$150,000.

According to Home Power Magazine, at least 180,000 families are living off the grid in the United States. But what exactly does it mean to live off the grid? The term off the grid is defined as not requiring utilities like electricity, water, sewer, natural gas, heat, and other services.

Why are people going off the grid? ›

By living off-grid, you reconnect with nature through supplying your own power, water and even growing your own food. Overall, this way of life minimizes negative impact on the planet alongside providing you with freedom like no other. However, switching from modern living to off-grid life is no easy task.

Living off the grid is a lifestyle focused on sustainability and self-reliance. It means you are totally reliant on your land and its resources to sustain your lifestyle. People who live off the grid survive by hunting, farming and foraging. They utilize natural energy sources like the sun or wind to power their homes.

While living off the grid is generally not considered illegal across all states, some specific laws and regulations must be adhered to. To start with, you may need permits to build your off-grid property or to live in a recreational vehicle (RV).

Alaska. The Last Frontier might be the first place you'd think to head if you're looking for a quiet, natural retreat. “This is probably the most popular state to go off the grid. Alaska's laws are so good to people who want to live off the grid that it is like it was designed that way.

If you choose to hold a part-time job while also living off the land, it's helpful if that work is fairly lucrative. In this way, you'll find a sweet spot between reducing costs and earning enough money per hour of outside work to keep it all going.

Cities or urban dwellings are more prone to pollution and crime in comparison to the rural areas where off-grid communities thrive. Surrounded by nature, you will be arguably safer as well as feel more calm and peaceful, which will contribute to better mental health and a more focused mind.

Generate energy through renewable means

Living off-the-grid also requires generating your own power supply using sustainable methods like solar panels and wind turbines. These installations help reduce reliance on fossil fuels while minimizing environmental impact, making it an eco-friendly choice.