Further, I don’t like paying rent, so my options are to take out a mortgage to buy a large house or a pricey condo with an HOA.
In the interest of achieving freedom from rent and/or a mortgage, I propose joining together with like-minded individuals to buy a large house outright, with enough land to build more small dwelling units (like those tiny homes, minus the kitchen & bathroom).
Each person would have their own room and/or tiny house, but share bathrooms, a kitchen, and probably even a working space.
So like a much better dorm, with people that you choose to live with, and that you own.
For example, a $700,000 house divided between 20 people is only $35k each. In certain parts of the country, that can get you a large house with ample land.
This is analogous to how Tynan bought and developed an island with friends: http://tynan.com/island … except we’ll have immediate access to the benefits of civilization.
There are multiple upsides & downsides to this approach, which I don’t have the character count to list. However, the most critical component is to rigorously vet each member, as it takes just one bad actor to make our lives difficult.
Location-wise, I’d prefer to be on the west coast of the US (or maybe Hawaii…) - I’m not steadfast on this however! I'd also like to be near a city center, but far enough away to bring down the cost of land and give us more freedom to develop it.
I realize this all sounds a bit harebrained, but thought I’d at least put it out there.
About me: I’m a 31 year old male web developer (shocking, I know), from California, but currently based in Austin.
Timeline is also flexible. I've been thinking about this for awhile, but just want to gauge interest in such a plan.
If you’re interested at all, please get in touch through the email in my profile.
Regardless, any thoughts or feedback on this plan is greatly appreciated.
