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Like many of the other posts, I can't imagine the cost of a new colony being much more expensive. I know a young lady who was part of my sorority, Sigma Kappa's new colony at Mizzou, and has told me what an AMAZING experience it was.
I honestly think that if this is something that you really want to do, go for it. My wonderful experience in the Greek community changed me and made me who I am today, and I personally can't put a price on that. But in the same breath, I can't imagine the conflict with my parents. My family was very supportive of Greek life, as most of my family are also involved with Greek organizations.
I think if you are confortable with your decision to move forward with this colony, then go for it. Best of luck!
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