RV living is worth considering
RV living is no longer just for retired folks. Each year more and more people choose RV living over a conventional home. RV living is a great option for young families wanting to get a start in the housing market. I have lived in a 5th wheel trailer for the last 2 years with a wife and full-size dog, and for the last year with a daughter as well. Why would I do this? There are many good reasons to consider RV living.
1. RV living allows you to have some privacy
If you have ever lived in an apartment building, you know that it can be stressful being surrounded by neighbours. Parties, stomping, crying babies and loud music can make living in an apartment building a stressful experience. You also can not get to your home without passing through a hallway, elevator and another hallway that are shared by dozens of other people. RV living allows you to have your own peaceful little space away from neighbours.
2. Modern RVs are far more luxurious than a rental apartment
Have you checked out new RVs lately? What is available these days is a far cry from the tin can RVs of the 70s. A fully loaded 5th wheel trailer typically comes with granite counter tops, stainless appliances, wall mounted flat screen TV, dishwasher, fireplace and high-quality furniture. No trailer trash here. Living in a high-end RV is a luxurious lifestyle. Here are some great tips for choosing an RV.
A 35' used 5th wheel can be bought for less than $30,000. If you finance it and live there until your loan is paid off, you then have an asset that you can sell and use the money for a down payment on a house. If you don't have property, you can rent a fully serviced pad in an RV park for $250-$450 per month. With all costs included you can comfortably live in an RV for less than $1000 per month and be building equity in an asset while doing so.
4. Investment potential
Just like a house, an RV can be bought for less than market value, upgraded, and potentially sold for more than you paid. I have upgraded the faucets, fans, appliances and several other items in my own fifth wheel and have increased it's value and appeal to a potential buyer.
5. RV living allows you to own something sooner
There is something to be said for owning your home, even if it's a simple one. You can change things, upgrade things and make modifications without worrying about what your landlord will think. Starting out in an RV is an attractive option because it allows you to own a home while you're saving to buy a house.