I’ve had several eager 20-something future full-timers email me saying they wanted to live in an RV after college because they didn’t want to throw away money on rent and they didn’t think buying a house would be a good investment. Unfortunately, an RV involves “throwing away” lots of money too. In the end, the cost of owning an RV — from purchase to sale and through the thick and thin of all the maintenance and repairs in between, not to mention the cost of campgrounds and RV parks — probably adds up to the same amount as renting an apartment or paying a mortgage/taxes plus utilities.
The grand total for the fourth quarter (October 01 – December 31) of our 2013 RV Living Expenses: $11,971 Below is a breakdown of our expenses of full time living in our RV, if you want more details read the posts from 2011 and 2012. I’ve rounded the numbers to keep it simple.$2,014 Fuel – Gas for Smart Car and diesel for RV, we logged a ton of miles this quarter.
This is an important budget item. In our third year of fulltiming, we had huge repair expenses including the clutch and air conditioning going out in our tow car (2 year old Forester that just had engine replaced by Subaru because of oil consumption issues). We seem to go through tires quickly on the Subaru too even though we are religious about rotations and alignments. Our RV steps cost over $600 to get repaired (three different places over 2 states). We also had to have a $300 repair on the propane heater. Our Tiffen motorhome is 15 years old, has undergone major refurbishment and in great shape but you have to expect repairs, just like in an older home. Better than having a “house” payment to us. Our motto has become “Expect the unexpected”. If you are lucky and don’t have any problems, enjoy the “bonus” at the end of the year.
This is pretty personal, and it depends entirely on your financial situation. In our opinion, some people shouldn’t spend more than $5k, and others can afford whatever they want. We have a lot of friends who finance everything: TV, couch, vehicles, etc. We are not a fan of this mentality. We realize you can write off your interest as a second mortgage for your RV, but we don’t finance anything, including our RV. We’ve never had a car loan, and we have always paid cash for our vehicles (including our tow rig and our Airstream).
We are fortunate in that our health insurance is a benefit of my corporate job. We are with Cigna and all three of us have full coverage including dental and vision. Our deductible has become increasingly higher since 2012 and we are now at a Silver plan which gives us a $5000 deductible each. Our prescription plan is less than stellar and we maintain our insurance primarily for our daughter and for unforseen medical circumstances. While on the road though we typically see an Urgent Care physician which costs $35/visit. We currently pay $430/month for health insurance.
Richard is working at with the Amazon CamperForce program for the second year. He’ll be at the warehouse from September to December. It’s very different from his career in IT, but the income allows the family to live this nomadic lifestyle. He earned $11.50 an hour at a fulfillment center in Murfreesboro, Tenn., which went to $15 an hour in November.
Very true, Eddie! Except when they don’t, also. But I agree that even with giant housing crashes like we’ve been dealing with the for the past ten years now, eventually home values go up. You can sell when you’re done, though you’re likely not going to get $1000 x 12 months x 30 years in profit (is your $300,000 house today going to be worth $660,000 in 30 years)?
Always, always, always expect to incur maintenance charges each month. Expecting to pay each month for maintenance will save you many headaches and knots in your stomach when you inevitably break down, blow a tire, shatter a brake pad, or have a propane leak–all of which happened to us. You’ll need to be changing your oil and refilling on propane regularly anyway, so it’s best to just count this as a guaranteed expense.
Hydration Pack – If your favorite RVers are outdoor enthusiasts gifts like backpack hydration packs will be appreciated. In our experience, hydration packs are a must for hiking with kids. Our boys have Dakine hydration packs similiar to this one. Brent and I both have Camelbaks with insulated drink tubes (similiar to this one) that along with hiking in all temperatures, we wear when snowboarding.
When Robert was offered a job in Atlanta working for an airline, they didn’t think they had enough money to buy a “proper house” for their two kids, their dog and their cats. So they decided to take the plunge on the RV lifestyle. Jessica convinced her company to let her work remotely so she could home-school their children and work in the RV anywhere in America. Robert works four days at the airline and then gets four days off, which he spends with his family in the RV.