Music Lover
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Interesting thought. If I just put foam panels between the studs, there will be a bunch of thermal bridges. But your idea covers that.
It's a big DIY job but I have time to figure out what I want to do, and I can eat the elephant one bite at a time.
Foam panels are expensive. Once you do the math for similar R values and take into account your time fitting them and sealing the gaps, paying for spray foam might be a worthwhile investment.
For example, I calculated that it would cost me about $1200 for material to insulate the crawl space at our 3-seaon cabin. But that would involve crawling underneath and working in an 18" - 20" crawl space. I don't know how long it would take but I'm sure several days at least.
I got a quote of $2100 for closed cell spray foam. At that price I'm not going to waste my time crawling around for a few days to do a job that at best still is not as good as spray foam which fills every little nook and cranny.