Hi everyone! My husband and I need some advice from people who have made the RV a permanent home.
A bit about us; we are in our early 30's, have no children (nor do we want them), absolutely no debt and we both work full time. We have a couple dogs and a motorcycle. Our dream has always been to travel but the cost/time involved in maintaining a home, finding a baby sitter for the dogs and owning things that don't matter has been holding us back for a while now.
Just over two years ago my husband and I were left an inheritance, it was just enough to buy a house and pay off all of our debt.
We didn't know that two years in the future my husbands career would take us halfway across the country. The house didn't have time to appreciate and in this market we had to put it up at a slight loss.
We didn't know how we would relocate (apartment, rental?), but we decided to buy a small motorhome from our elderly neighbor where we could live until our house sold.
Well, we moved into the RV, and now house is finally under contract.
Thing is, we don't know that we want to go back to a house. We are enjoying the RV, we do need a bigger one though. It's amazing what you discover you don't need when everything you own is in a storage unit. It feels like freedom.
We both work full time, we would live in an RV Park full time and probably travel a few times a year. We wouldn't be traveling year round. We have enough money to buy higher end and we are leaning towards a 5th wheel and all that entails. It would be paid off, along with the truck to pull it.
We would also have a strict budget of what goes into our money market account for savings, our retirement plan and of course understand that we will need to invest for future repairs, upgrades and everything that comes with that.
Are we being dumb? Should we "re-invest" the money in a house? Is a house really all that much of an investment? The cost of living in a paid off RV vs a paid off house, the RV still seems more affordable. Even with upgrading or replacing it in the future. We don't have enough to buy a fancy brand new home that won't need repairs.
We always thought we would live in our house for 10+ years. We were wrong and it hurt us financially. There is a good chance it'll happen again. But more than anything, we didn't live in more than the bedroom, bathroom, kitchen and livng rooms. We took up no space. We hated the yard work. Things accumulated in closets that when we packed up into the POD we forgot we owned. So much was given away because we just didn't need it. We already planned on buying a much smaller home when we sold the house.
My husband works for Harley and his career can take him somewhere else at a moments notice. I do hair and my job can go anywhere. We will be able to invest and save for the future.
If you had the chance in your 30's to live this lifestyle would you have taken it? Do you feel that this is a waste of money?
I need some opinions from those who have given up their homes for the RV. I have plenty of opinions from home owners and I need some from the other side. This isn't a light decision for us and we could use some wisdom.
dumb???? NO!! Gosh, if I'd had that opportunity when I was in my 30s I'd jump at the chance. Just think of all the new adventures ahead of you. Course, I had kids in my 20s so that was out of the question for me.....but you have such a wonderful opportunity and it sounds like a great head on your shoulders for the finances. Go fo it -- you're only young once!
If I had it to do over again knowing then what I know now, I would have bought a high quality used fifthwheel years ago instead of a house. I could have saved thousands of dollars and had a much higher retirement account balance than what I currently have.
If you have to move to a part of the country that has cold winters, an RV may not be ideal, but it is doable.
2011 GMC 3500 Dually
New to me 2006 Jayco Designer 38RDQS
2 Boxers and a Maine Coon
For most of my lifetime owning a home was your best investment. Not for millions of people who owned one in 2008 and since. When I was growing up working in the steel mills was the only job anyone needed for life, most of the kids I went to high school with and bought into that have been unemployed or under employed their whole life. What's true today will not be true tomorrow. Living in an RV does give you flexibility and if the life style is for you the flexibility is priceless.
Dick and Joyce
2010 Montana 3665RE
Dodge 2500HD Maxi Cab Laramie Edition
Diego, Norm, & Bitsy
most r.v. parks will discount rent if paid on a year to year basis.
r.v.'s do require some work to keep up as they age, as does a house.
r.v. appliances are more expensive.
insurance is usually less.
can't take a stick house with you...
balance out the pro's, con's. a r.v. lifestyle just may be the ticket for you..
i've been a nomad for over 10 years.
less costly lifestyle...
somewhere in the texas 'lost pines'
currently without rv.
'83' Ford Ranger with a 2.2 Diesel.
'56' Ford F100.
Living in an RV park is not something I'd personally want to do for a long time. Some of them are pretty seedy places with less-than-upstanding citizens.
IMHO this statement is totally outdated; as we travel we find lots of "regular folks" living in RV parks, even KOA's and other fairly expensive places. Many of them are families, in a location while dad or mom works at a job. Maybe its a temporary job so there's no point to renting an apartment; maybe, like in North Dakota, there aren't any other places to live.
I'm sure there are still "seedy places" and shady people living in them, but the vast majority of the people we meet in RV parks are the same as us.
Sandie & Joel
2000 40' Beaver Patriot Thunder Princeton--425 HP/1550 ft-lbs CAT C-12
2009 Chevy Malibu LTZ with ReadyBrute tow bar/braking system
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No kids, established "portable" jobs plus technology makes your situation a bit more manageable than many of us had when we were your age. What is the down-side risk? Try it for a year as we are doing then make an educated decision on how you want to proceed at that point. Plus, no property taxes and you can pick what state such as S.D. you want to "reside" in as a mailing address and further save on taxes, insurance, etc.