Is it possible to Live Cheap RV living?
Not only is cheap RV living possible, but RV living can probably be much cheaper than the life you’re living in a sticks and bricks house. There are so many things you can do to cut back on expenses while maintaining an amazing nomadic lifestyle.
What is the difference between buying an RV and renting an apartment?
There are quite a few differences between buying an RV and renting an apartment. An RV is a completely different living situation to the way you would live in an apartment. The biggest difference is the difference between buying and renting. When you buy something you are working towards owning it. The payments are usually smaller.
What are the economic advantages of living in an RV?
This makes everything far cheaper than it would be if you were living in a traditional house. The economic advantage is that you do not have as much to purchase. You lose less materials so therefore you have to buy less materials. RV living or living small in general can make a huge difference on your economic efficiency.
Should you buy an RV?
When you are thinking about buying something, ask yourself if you will really be much happier if you have it next week, or even the week after. Typical RV living is pretty simple because unlike living in a sticks and bricks house, your RV will get cluttered fast if you buy many of the things that we have in a sticks and bricks house.
Is it cheaper to live in a RV than a house?
So the initial cost of RV living is certainly lower than buying a house, and you'll save money by not having to stay at expensive RV parks every night. After all, the average cost of an RV park is around $30 a day.
How much does it cost to live full time in an RV?
We have seen monthly full time RV living budgets from fellow travelers as low as $1,600 and as high as $5,000. If you really want to go minimal, you can easily live this life for around $1,000 per month by finding a free spot to park your rig for extended periods or by becoming a camp host.
Is living in an RV less expensive?
Not only is cheap RV living possible, but RV living can probably be much cheaper than the life you're living in a sticks and bricks house. There are so many things you can do to cut back on expenses while maintaining an amazing nomadic lifestyle.
Can you live permanently in a RV?
Yes, an RV can be a permanent residence for tax purposes or to claim residency in many states. The IRS considers any structure as a possible primary (or secondary) residence if it has sleeping, cooking, and toilet facilities. For other purposes, you can get an address assigned to your RV property like any other home.
Is owning a RV cost effective?
The short answer is no. With the exception of some in-demand vintage models, the value of an RV depreciates over time. An RV is an investment in a lifestyle, but you can mitigate the expense by renting it out when not in use through a third-party rental site like Outdoorsy or RVshare.
How do people afford to live in an RV full time?
Find ways to save.Campsites don't have to break the bank. State parks are a great low-cost option, as are many campgrounds. ... Travel slowly. Gas is usually one of the largest parts of an RVer's budget. ... Limit your purchases. It's somewhat easy to limit your purchases while traveling in an RV. ... Make meals of your own.
Is it unhealthy to live in a camper?
Living in an RV can be plenty safe; you just have to prepare. Godownsize.com really pushes the point that if you aren't prepared for the long-term challenges of electricity, weather, animals, driving conditions, and access to health care, the RV life can quickly turn dark.
What type of RV is best for full time living?
Drive-able Motorhome RVs for Full Time Living Many RVers believe that Class C or Class A motorhomes are the best type of RV for full time living because they are comfortable for long travel days. Drive-able RVs also give you more flexibility to chose an everyday vehicle instead of having to drive a heavy duty truck.
How much do RV parks cost per month?
Generally speaking, you can expect to pay between $500 and $1,200 per month to stay at an RV park, including the cost of utilities. The price will vary depending on the location, facilities, amenities available, and whether the park offers a discount for extended stays.
What is the best state for RV living?
The Three Best States for Full-time RVer Domiciles The best states for full-time RVer domiciles generally come down to Texas, Florida or South Dakota. All three states are income tax-free, the government entities will accept mail-forwarding addresses and they are headquarters for mail-forwarding services.
Why cant you live in an RV?
As per the Department of Housing and Urban Development, RVs only have recreational, travel, or camping purposes. On the other hand, they treat manufactured housing as a permanent residence. For this reason, it has always been illegal to live in it full-time.
What are the pros and cons of living in an RV?
The Pros & Cons of Living In An RVIt can be much cheaper than sticks and bricks. A physical house (or “sticks and bricks” as they're called in the RV world) can be expensive. You have to pay rent or mortgage, utilities, and more depending on where you live. ... You get more time in nature.
How much does it cost to drive an RV?
When driving an RV, it can cost between $1,000 to $2,000 a year, or around $100 a month on average. It’s important to remember that your RV serves two purposes: a car and a home.
How much does RV insurance cost?
When driving an RV, it can cost between $1,000 to $2,000 a year, or around $100 a month on average.
How much does it cost to fill an RV fuel tank?
To fill up your RV’s fuel tank, it can cost you between $60 to $600. That’s enough to run a few hundred miles. If you’re an American Express credit card holder, you can use your earned points to pay at gas stations. Alternatively, you can trade your bulk points for extra cash.
Is it cheaper to live in an RV?
When you play it right, you can see that living in an RV can be cheaper. As long as you know where to park, care and maintain for the RV properly, and that you monitor your budget carefully, you can save a lot. However, you also have to consider the emotional and physical expenses as well.
Can you buy deeded lots in RV parks?
If you want something more permanent, there are RV Parks that allow you to buy deeded lots, similar to the concept of condominiums. This is a great option if you prefer homesteading or if you need an address for mailing purposes.
Do RV parks have Wi-Fi?
Some RV Parks provide Wi-Fi access for an additional fee , but speed and stability aren’t guaranteed since you’ll be sharing it with all your neighbors. If you want to invest in a phone or Internet, go for one that offers unlimited data so you can stay connected wherever you go. 4. Repairs and Maintenance.
Is it cheaper to get an RV over a home?
With this in mind, getting a standard RV over a home may be the cheaper option. BUT, take note that with an RV, you have to pay for parking in an RV Park. This ensures your safety and gives you a protected area to sleep in.
Do RVs get the best gas mileage?
It’s a common misconception that fuel costs skyrocket when living in an RV. Of course, RVs don’t get the best gas mileage. You will have to fill up the tank more often. Depending on where and when you travel, the costs can add up.
Is it easy to forget about RV living?
It’s easy to forget about everyday fees and expenses. There seems to be a mindset among aspiring RVers that RV Living removes most of these costs, but that simply isn’t the case. Here, we’ll take a look at some of the average costs that get overlooked when people consider living in an RV.
Living in an RV vs House – Initial Cost
Let’s start with the initial costs, on average a new house will cost you on average is $287,148, the average RV will set you back between $15,000 to $300,000 depending on the type.
Living in an RV vs House – Additional Vehicle
Whether living in a house or an RV, you are probably going to need a vehicle.
Living in an RV vs House – Maintenance
On average you will spend around $2,040 per year on repairs and maintenance for your house. Luckily because they are stationary not too much can go wrong.
Living in an RV vs House – Other Costs
We’ve covered most of the big costs for living in an RV vs a house, but there are some others to consider for living in an RV.
Is it Cheaper to Live in an RV than a House? Final Thoughts
Obviously these costs will be unique to your situation and the house and RV that you are comparing. My advice is to run through the table above and fill in the costs for each.
Budget
Decide how much money you want to spend every month and stick to it. Sit down at the beginning of each month and write a budget. Include things like vehicle maintenance, fuel, eating out, campsite fees, internet or cell phone bills, food, clothing, electric and sewer hook-up fees, and be sure to leave a category for miscellaneous/unexpected.
Save Money on Campsite Fees
Booking a seasonal spot for 3 to 5 months at a campground can save you hundreds or even thousands of dollars. Most campsites offer a significantly discounted rate for booking a seasonal spot. If you’d rather not park for 3 to 5 months, you can consider booking for a weekly or monthly rate.
Boondocking
Boondocking is a fantastic way to save money on camping fees. Many free sites have excellent access to lakes for fishing or swimming. Some consider boondocking parking in rest stops or on the side of the road, but to truly boondock, park for up to a week in a spot without water or sewer hooks ups.
Perform Your Own Maintenance
If you’re feeling adventurous and handy, you can try your hand at performing your own maintenance. The cost of maintaining your slideouts, rotating tires on tow vehicles, and changing the oil can add up if you have to pay someone else to do it.
Get a Good Deal on Your RV
While there are plenty of new RVs for sale, you can save a lot of money by investing in used RVs for sale from a specialty dealer like RV Wholesalers. Places like these specialize in low prices on trailers for sale, lightweight travel trailers, and used campers for sale.
Eat Frugally
Eating out at restaurants can get expensive very quickly. If you’re looking for convenience food, have a meal prep day. Pick a day to go shopping and buy foods like sandwich fixings, baby carrots, trail mix, pretzels, apples, oranges, and your usual favorites. Avoid foods packaged in small snack sizes, as they tend to be expensive.
Have Fun for Free
You don’t have to spend money to have fun! OK, maybe a few dollars here and there, but you can have a good time for free or cheap. A few water guns from the dollar store, and the kids can have a water gunfight. A low-cost lunch from the grocery store, and you can have yourself a picnic by the lake.
Living in An RV vs House – Initial Cost
- Let’s start with the initial costs, on average a new house will cost you on average is $287,148, the average RV will set you back between $15,000 to $300,000 depending on the type. Unless you have the cash to buy outright, you will have to finance a house or an RV. For a house, you’ll likely get a mortgage, but for an RV you’ll have to get an RV loan. These loans will have higher interest …
Living in An RV vs House – Additional Vehicle
- Whether living in a house or an RV, you are probably going to need a vehicle. If you live in a house, you will have a wider range of vehicles to pick from and so can get the best one to suit your needs, or the cheapest one. If you are living in an RV you will need a vehicle to either tow the RV or to tow behind it, it’s not practical to unhook your RV and drive it to the shops for bread and milk or to g…
Living in An RV vs House – Rent/Camping Fees
- If you own your own home then you won’t be paying rent, you’ll just be paying down your mortgage. So in that sense, it’s cheaper than an RV because you don’t have the initial cost plus a rental fee. The average rent in the US is $1,098 per month, for a one-bedroom apartment. Obviously, this will vary a lot depending on the size of the house or apar...
Living in An RV vs House – Insurance
- Insuring a house will cost on average $1,312 per year. RV insurancewill vary a lot depending on the type, travel trailers are cheaper to insure than motorhomes because they are not as complex. If you are living in your RV then the insurance can be double at around $2,000 or more per year. You will also need to ensure the extra vehicle, and as you will have no set address it will be mor…
Living in An RV vs House – Utilities
- The average American pays about $2,060 per year on utility bills. Utilities for an RV will usually be included in the camping fees, but there will be fuel to pay for. The fuel consumption is dependent on your situation and how much you travel. Usually, fuel is one of the most expensive aspects to RV livingbecause the fuel economy of an RV is terrible. Even when towing your RV the fuel consu…
Living in An RV vs House – Maintenance
- On average you will spend around $2,040 per year on repairs and maintenance for your house. Luckily because they are stationary not too much can go wrong. On the other hand, RVs are complex and a lot can go wrong, repairs can be expensive so it’s important that you maintain the RV. On average RV maintenance will cost you about $1,000 per year so it’s still cheaper than a h…
Living in An RV vs House – Other Costs
- We’ve covered most of the big costs for living in an RV vs a house, but there are some others to consider for living in an RV. 1. Storage – You might have to put your belongings into storage if you are downsizing to an RV. Paying for storage cost is $160 per month. 2. Spending – You will buy less things living in an RV, there’s simply no room to put anything more than what you need. Thi…
Is It Cheaper to Live in An RV Than A House? Final Thoughts
- Obviously these costs will be unique to your situation and the house and RV that you are comparing. My advice is to run through the table above and fill in the costs for each. If you are considering living in an RV to save money, then you are probably better off getting a cheaper house. A low cost house like a mobile homewill be much cheaper than living in an RV. If you are …