Around one million Americans live in a recreational vehicle (RV) full time and more than 40 million others go on a regular RV trip. Living in an RV can be a good option for people who love to go on road trips since it does away with the need for owning a house.
An RV normally features all the comforts one can get from a regular home without the cost of owning one. While this may be a conscious choice for some, others are forced to this way of life due to the cost of maintaining a home.
Despite this situation, the lure of hitting the road is more tempting these days especially with remote work arrangements increasing. But people should consider a couple of things before they start looking for an RV to buy and put their homes on sale.
Looking for an RV
The first thing to consider is the cost of an RV. Buying a used RV is an option for people who want to save money when they’re planning to live on the road. An RV can cost between $10,000 and $300,000 depending on the features and amenities it offers. On the other hand, a moderately-sized camper can cost around $20,000 while a fifth wheel is typically priced at around $40,000.
Aside from the basic amenities of a bed and basic kitchen, some options may have additional features, such as a bigger bed, full bathrooms, and full kitchens. They may also feature a living space and dining area. The more features an RV has, the higher the price. People with a lot of money to spare can even consider looking for a motor coach that’s on sale.
RV Parks and Camps
Aside from the cost of the RV, people should also consider the cost of RV parks and camps where they’ll stay for a night or two. RV campground fees of national parks range from $10 up to $60 per night depending on the park and season.
On the other hand, RV park prices range from $20 up to $100 per day. These prices also depend on the location of the park as well as the amenities available at the park. For instance, one RV park offers full hookups, a fitness center, and a tennis court. One park even has a nine-hole golf course.
While the rates of RV parks and camps may appear expensive, they’re much cheaper compared to the maintenance and utility costs of owning a house. And if people park at a national park, they’ll have the chance to enjoy the beauty of nature at its best.
Basic Expenses
Owning an RV also entails other expenses that people should consider. One of these expenses is fuel. But they can reduce fuel expenses by staying longer in one place to explore it. RV parks and camps typically offer weekly and monthly rates. RV owners can take advantage of these rates to save money.
While food is another expense to consider, RV owners can use the microwave and stove inside the RV to cook food while on the road. This allows them to save money compared to always eating at restaurants at their destination. RV owners can also cook the dishes they used to eat while living in a house.
Clothing expenses while living in an RV are minimal since people are not required to dress up unless their destination calls for it. And if they’re working remotely, they’ll likely not require to wear office wear. With this, RV owners may only need a few shirts, jeans, and shorts.
Tax Expenses
Living full-time on an RV allows people to choose the places where they can consider their home. A lot of RV owners opt for states that have no income tax as their home state. With this, they will not have to pay state income tax. These states include Alaska, Florida, New Hampshire, Nevada, and Texas. While these states have no income tax, they make up the revenue by increasing other taxes, such as sales tax.
Entertainment Expenses
Staying in national parks gives RV owners a lot of entertainment options. Outdoor enthusiasts will enjoy staying in a national park since they have the opportunity to explore nature. Additionally, some RV parks offer entertainment facilities, including a playground for the kids, a fitness center for workout enthusiasts, and waterfront activities for the whole family. While many of these activities are free, some of them require a fee.
Living in an RV may be a dream come true for people who love going on road trips. But it’s always important for people to consider the other factors before deciding to sell their homes and buying an RV.
