In these challenging economic times, more families are choosing to reduce their expenses by trading their homes for RVs and living on the road full-time.
In these challenging economic times, more families are choosing to reduce their expenses by trading their homes for RVs and living on the road full-time.
We did this for two years, and it was a fantastic experience! We saw so much of the country, and it was terrific. I'd do it again in a heartbeat if we could get rid of our mortgage! Of course, selling a house (or in our case, a large commercial building in a historic district of a small town) is not nearly as easy as we'd like!
We have a paid for trailer and a paid for quad cab ram to pull it. We could live in it
for around $400.00 per month for space rent and insurance for trailer and truck.
We haven't pulled it out in a couple of years but in an emergancy that's where we are headed.
Could I do the house to RV swap- yes- short term. The lifestyle advantage would be appealing. But, a wise home purchase, even in these challenging times, would seem a better long term strategy. That truck and trailer won't be worth much in 10 years. As they say, the 2 happiest days in an RV owners life are the day they buy and the day they sell (at a big loss no doubt). A brief look at high mileage trucks/powered RV's and 10 year old travel trailers on E-Bay will tell the story.
jimmofo.......you definitely got this one wrong. 1. if you look at all the carrying costs of a home over the years (interest, taxes, insurance, maintenance, etc.) and add that to the purchase price you are most likely upside down so I fail to see the big advantage economically, 2. true the truck/trailer are depreciating assets but you don't buy them to make money, you buy them for the experience and the way of life...it ain't about the money!, 3. the saying you mention about 2 happiest days actually did not come from owing a trailer type RV, that saying has to do with boats, MUCH different deal, 4. high mileage rvs on ebay tells you actually something different....people must keep them a long time and use them!....why don't you compare that to the number of cars for sale on ebay too?....what does that have to do with anything? How many homes are currently for sale in the U.S.? I think you miss the point......life isn't just about money and economics......its about the journey unless you have figured out how to take it with you.
JIMMOFO: It never ceases to amaze me why ANYONE would see the purchase of ANY vehicle as an investment.
To me buying a car or a RV is like buying an appliance. I don't buy my refrigerator and wonder how much I am going to get when I sell it in X years. Why on earth would anyone look at a car that way? Sure if you get money for it fine. If you can sell your old fridge and someone wants to pay you for it cool, but beyond that all I want to know is will it provide the functionality I am looking for and at a maintenance price I can handle.
JOBO - a good house in the right place will absolutely net you a gain after all the years of paying everything. You are only looking at things now, and not how they will be later. I can't think of a single house my parents or grandparents or I have owned that we have not made all of our money back plus a profit. There is a VERY good reason California passed Proposition 13 in the 70's and it sure wasn't because most people were upside down after 30 years of owning a home.
Jimmofo,
you didn't get anything wrong. I completely agree with you on this. Selling a profitable home and purchasing a trailer leaves a person with no assets in retirement. where will these people be in retirement? In a nursing home where our tax dollars will end up paying for their care because they will have no assets, no money and no place else to live. and Jobo it has everything to do with money. Didn't you read the article? It was mentioned that the one family is paying only 300 per month as opposed to 3,000. my advice to anyone in these economic times is to get another job and down size your home. If you own a 4000 sq ft home and you only have two kids then sell and buy a 2000 sq ft home. ect...thats far greater investment for future than anything you will get out of a 400 sq ft trailer with a truck. Kids need stability in their lives, especially teenagers. There is something to be said in being able to say "this is my home I grew up here, I have many memories of long time friends. Instead these kids will be saying "I grew up on the road, I have many acquaintences but no one I will ever meet again, nor anyone I will ever keep in touch with. What about prom, what about just having teenage friends to hang out with whom you've known for years who you feel comfortable talking to about your problems? I believe the fun of being on the road will not outweigh the loneliness these kids will feel in missing lifelong friends they grew up with. Parents need to stop thinking bout themselves and think about the growth and development of their children. Its one thing to go on a family trip on vacation. I took my kids on a 30 day vacation from Alaska to Virginia. We enjoyed it tremendously but would I want to drag my children from state to state for years? absolutely not! Think about this too, with all that time on the road how are these kids getting any real exercise either? It is the kids I feel for in this situation. They will be the ones suffering for their parents 15 minutes of fame and ignorance. And in the end they will have nothing to pass down to their children either.
it's untrue. just a boring old saying for people who don't appreciate this lifestyle.
Already retired and spouse could work four more years and then retire. I am retired military and just traveling around would be a good ideal. I would not have to worry about paying property taxes and other taxes. Just the up keep of the the RV.
With housing being so expensive in California in the recent years I have seriously looked into the RV full time life. However with numerous calculations I have found that living the RV is almost expensive as living in a small home, even in California. If you don't know already, an RV of almost any size is a job in itself to maintain and when it's a motorhome you now have an engine to maintain also. And where do you stay? Well if you head to the State parks your going to find a $35-$50 a night fee, plus your food, water, gasoline, insurance. And then you can't stay at most campgrounds for more than 7-14 days unless your the host or a long term tenant and then your just renting a spot. So if you do the above it's hard to get away with spending less then a grand a month, nontheless I just bought a cute little home here in California for approx $600/month piti. So RVing would really cost more, specially if you have kids. Without kids and if your living cheaply using the BLM boondocking offers then ya you could live much cheaper. So a family on the road, not for $400 bucks, that's what the gasoline would cost in a monster vehicle like we see above!!
I did this (boondocking) in SoCal for 9 months ( I would have done it longer but a gasoline tanker truck destroyed my RV). I was saving up to buy a house so I did this in 1998-99. Got rid of anything I didn't really need, put the things I needed in my rig, and locked the rest in storage.
The CA vehicle code (trust me, I read it, and always had a copy in my rig) says that you cannot park in any spot for more than 24 hours at a time unless otherwise marked (and obviously some places are marked much shorter than that). So you can park just about anywhere. You don't need a campground.
So I went to work and drove my RV. I was allowed to park in the company parking lot so obviously I moved from where I was the previous night. After work, I went to my local gym, worked out, watched some TV, took a shower, and jumped in my RV. Again, I parked in the Gym's parking lot. Then I went to my favorite spots in LA or Orange County and spent the night wherever I wanted to.
On weekends, I visited family. Often, I'd buy groceries and cook some food while I was at their house. Gave them some and stored the rest for me for lunches and dinners during the week. All my friends and family wanted to know was how it was going and what my latest adventure was.
I got by on just under $600/month (gas, gym fees, maintenance on my rig, food, storage fees, PO box fee, cell phone). By the time I was done I had my 20% down payment and the money I would need to travel to my new home in New England. I had a fantastic time and I would recommend it to anyone who can actually minimize their life.
But yes, I was alone except for a couple of cats, so you do have to be more careful when making this decision with others in mind. Campgrounds are better with kids because they can play somewhere outside of the cramped confines of the RV.
I did however run into some very odd and crazy people who thought I was "down on my luck" and it was ok to mean or @!$%#ty to me. I still had my perfectly good $50K+/yr IT job and my lovely college education, but still they just saw the trailer and assumed something negative. It just really underscored for me that there is something seriously wrong with some people. Just saying...don't expect everyone to be as enthusiastic about your choice as you might be.
this story is such bs. people like this don't know what it is like to fall on hard times even if they have lost their jobs they were always making enough money to put some away for a rainy day. these are not the people suffering because of the economy they are just taking the opportunity to do what they've always wanted to do. write a real article about the people who lose their jobs and "chose" live in a box under the highway.
Wow......what an ax to grind here by adrac......the point here is not what other misery is out there and how others have it even worse off and live under overpasses......it merely was about yet another way people have chosen to get by in tough times ( and if it something they always wanted to do a bonus).
Well, I have to agree with adrac. Not many people who loose their jobs have an RV and truck to fall back on, or the money to finance gasoline, insurance, and campsite fees.
It really isn't that realistic, but B.P. described it much more realistically
I got a paid-for truck ('02) and a paid-for flat-deck trailer - I could scrounge a way to make do. Wouldn't be pretty enough for the campgrounds, I suppose.
But I don't have kids, so a truck-top camper would suit
So I guess I have it easy - especially as I still have a job (hopefully until I can unload the house)
We've talked about this for a long time. The first person who offers enough money to pay off house and enough left over to get a RV and we will be on the road. Spent many years in occupations requiring being on the road and enjoyed almost every minute of it. Kids are all grown and out on their own, family is scattered all over country so what better way to enjoy life.
I spend $200 per mo for an RV space in N. AZ. at 6500 feet . Nice town of 3000 people with all amenities. for 5 months per yr. $200 per mo for an RV space in a VERY nice mobile home park in Phoenix for 7 months in the winter. Side trips to Vegas, San Diego, and Laughlin, along with visits to kids and G-kids. Life is good in my 5th wheel with 3 tip outs!!
this is all good if you aren't dragging your children around for the sake of you fullfilling your dream to be on the road. I'm all for it if there aren't any kids. Kids need stability. Camping out here and there or staying on the side of the road is not stability for children. I grew up on the road as a child and it sucked. No friends, no school, no playing out side on a regular basis. Its a very lonely childhood for kids being on the road.
"We full-timed for 2 yrs as we looked for jobs. Finally found work & settled down again, but we're glad we had the RV for a lifeboat!"
I just wanted to add that even though those 2 years were very tough times for us- we pretty much lost everything but that ten year old motor home, the belongings we had in it and the little vehicle we towed behind it- but I wouldn't trade the experience for anything. We lived and worked at State Parks, we traveled as we looked for work, we spent a lot of time together and saw some beautiful countryside. It took some time to finally find an area with a lucrative job market, but we did land good jobs at last and have started to put down roots again.
And, we found out that RV living wasn't bad at all. Our 36' motor home was an older model, but it had all the comforts of home, including a washer/dryer. We had LOTS of storage and it was quite comfortable. I wouldn't hesitate to take up that life-style again, if we had to. In fact, I'd love to do it again, only under happier circumstances!
Good for you, that must have been a struggle but a rewarding one in the end, and it is also good to hear things are going well again. Peace of heart and peace of mind are the true rewards in life.
I actually plan on doing this with my family regardless of our financial situation. I think giving children a positive life experience outside the norm will help them grow into compassionate interesting people. Watching the Ken Burns' "National Parks- America's Best Idea" was especially inspiring.
I'd do it in a flash. Am retired military so I have a stable monthly retirement check. started working as a DoD contractor with a very lucrative income so I'm in a rat race environment. I expect budget cuts to threaten the current stability of my job. If that happens my only challenge is to talk my spouse into a nomadic lifestyle for at least a short while. Can't pry her from home with a shoehorn. However the travel lifestyle has always been my dream
My husband and I have actually discussed doing this. We don't have a mortgage (we still rent) so that wouldn't be a problem. Our issue is generating income while on the road. No money? No food, no gas.
And buying an RV seems a little expensive to us.
I've dreamed of being able to do this, however, being a home owner and not being able to sell my house is a major stumbling block. I've lost my job, and thus health insurance along with the fact that the State (Ca) denied me unemployment benefits, doesn't make it any easier to leave one type of living for another, except for tenting it in the middle of the desert somewhere. I am alone, so I guess I don't have to worry about anyone else at least. Stress is bad and so the only thing I have right now is the imagined ecstasy of having the wind in my face and many road turns behind me. Until I can manage that, I read other people's adventures and stay positive that this rotten economy will turn around soon.
In 1970 my wife and I and our 9 year old daughter hopped into a 22' trailer and traveled the country for apx a year. We sold our house and all of the furnishings, packed up about 15 boxes of personal items and put them into storage, and unfolded the map and took off. For us it is remembered as a highlight in our lives. I recommend it for all that have a sense of adventure in their souls.
I'm 33 now. I was a full timer in a 37 foot Bounder Class A motorhome from 24-28. Great lifestyle...only I couldn't afford to drive the thing anywhere and with my job (Info Tech) I seemed to be working all the time so couldn't take time off. Those times when I was able to go somewhere..it was a blast!! Own a house now...but sometimes miss the full time RVing as you're not tied down anywhere. Maybe next time I'll live aboard a small yacht or Cabin Cruiser boat since I haven't done that yet! :)
I want to do this regardless of the economy! I own an RV and I already know people who do this. I'm STUCK in an office job and I have health benefits which are tied to my employer. Some day when I do not have to rely on having a corporate job cover most of my healthcare costs I will hit the road - no question about it. For those of you who think it's like living in a trailer park or being homeless - you are way way off base - it's nothing like either of those scenarios. RV's have all the comforts of home and then some.
Oh and to all you Real Estate Agents and Mortgage Brokers who are posting on here about what good investments a "nice home" is - give it up - those days are over kids - the gravy train has left the station and I feel real sorry for anyone buying a house today who might find they need to move and sell it 8 or 9 years from now because they'll be lucky to be able to pay off the bank. I know you folks have a living to make, we all do, but you might as well be trying to sell us some swampland in Florida.
I see the pros and cons. I do think it might be healthy for a family to be close and considerate of each other. I think you need to maintain a schedule for schooling. I can see if they sold their house and other assets they likely have the resources to make this work. Most people, when losing their job, don't have an RV to turn to nor the money saved to go with this lifestyle. It would be nice to not be restricted by your possessions. The big thing for me that would be the killer is health insurance or lack thereof.
In a heart beat, and I would not even think twice. This is my planned retirement in 4 more yerars. To see that it can be done, check out www.rv-dreams.com. Howard and Linda Payne has been doing this for several years now and have not look back once.
Too Bad?? So Sad?? lets get real folks a 25-40k trailer and a 35k - 50k truck!!
these folks are not hurting for a thing, don't spend my tax $$ on them. I would love to be able to afford this lifestyle with my kids in tow.
if the story had not started by a job loss EVERYONE would say THAT sounds so wonderful, I wish i could do that!!
no get back to work!!
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Sounds fun, but it is obviously not a flippant decision as there can be big implications...