rv van owner

Is it cheaper to live in an RV than a home?

• cannon
• April 6, 2021April 6, 2021
• 0

Do you wish to live in an RV but worry about the high cost of living? You should be thinking about whether it is worth investing in a home or RV before committing to buy a full-time RV. However, when you run the numbers and compare the lifestyles, you might find it cheaper to live in an RV. Read on to learn about the costs of living in a home and a RV and decide the lifestyle that suits your living ideals.

• It Is Cheaper To Buy an RV

When you choose to own a home, you could think about it as paying the mortgage or losing interest since your money will be locked in the home. You will pay more for the mortgage compared to buying an RV. Moreover, other costs come with a home, such as land rates, parking. When choosing both an RV and a home, you will have different issues to consider and prices that meet your pocket. However, an RV will be cheaper than a home.

 

• You Incur More Taxes Owning a Home

For a home, you might incur more taxes and insurance costs than an RV van. First, you will have to pay house insurance and insurance for a car, while with an RV camper, you only pay the cost of RV insurance and fees. Houses have special taxes and license fees that apply to different homes, while there are no taxes that apply to an RV or RV van. 

• You Pay More for Utilities When Living In a House 

You will pay for utilities like water, electricity, natural gas, sewer, trash, and cable living in a home. However, these costs will be included in the RV site, which cuts the costs of living in an RV. Although phone and internet costs can be similar for both the home and the RV van, you will save more on the utilities covered by the RV site. Even though you will have to pay for a campsite per night, the RV site’s cost is cheaper than the cost of the services offered by these sites. 

• RVs Have Low Maintenance 

The RV will need maintenance, but it is nothing compared to the maintenance homeowners pay to maintain their homes and the cars. Homeowners estimate to use 1-4% of the home value on maintenance, and if they have cars and other additional structures on their homestead, the cost might be higher. The RV wins on the maintenance cost as it requires little maintenance, much of which if major is covered by insurance which is cheaper than the maintenance on the whole household. 

If you have a home, you will have many big items to buy to make a house cozy, and you will find yourself buying a lot of things. For instance, you will settle for bigger TV screens, larger furniture, and a second car if you already have one, lawnmowers, and other items. However, an RV has little space to accommodate the big items, as you will not have to buy these items, saving more. Some of the things found in most homes are luxury stuff that does not real long term have economic value but costs a lot nevertheless. You will not feel like buying more as there is little space, and you will live only with the necessary things that make life comfortable. 

Studies show that most homes waste food as they get spoiled from storage for long and end up uneaten. The space for food is limited in an RV, and you will rarely throw away the food as you will not store it for long. Moreover, you are likely to eat healthier since you will be hiking most of the time outdoors, you are likely to get fresher food. 

• It Is Cheap Vacationing When Living In an RV

It is easier to go on vacation using an RV; it feels like you are on vacation every day. Moreover, when you move with your RV to your vacation destination of choice, you carry all your personal property, and you might not need to spend more on buying personal stuff. The only cost you will spend while vacationing on an RV camper includes museum and park fees. When you live in a home, you have to set aside money for each year’s vacation. You will not move around with most of your belongings and need to buy other items while on vacation, which increases vacationing costs. 

• You Can Save More If You Sell Your House to Opt For an RV

If you have a home and wish to live in an RV van, it might be cheap as you will need to sell your house and other property. You might then think about settling in an RV cheaper than your home and going for little space with only the items you need for survival. You can invest the money from the sale of luxury household stuff into other things like investment and or business opportunities. Moreover, living in RV might not be as bad as many people think since you will be at a campsite with other people living in RVs. It might be the best option for older adults who could be lonely in homes as they get to mingle with other people on the campsite. Moreover, you do not have to deal with house crises living in an RV, and you will generally develop different views about lifestyle and life. 

Even so,

• There Are Some Services Which Can Be Expensive In an RV

You may pay more for some services when living in RV; this includes mail forwarding services, but the mail forwarding and shipping services might not be very expensive. Moreover, you will pay more for gasoline as gas for an RV might be substantial compared to a smaller car. However, much of the gas costs will depend on how much you will be traveling, and it can be cheap if you do not travel over longer distances. However, people who live in homes also pay for gas for their cars which might be the main form of transportation. They will also pay transportation fees if they use public transportation to commute from work. 

The Bottom Line
The costs of opting for an RV indicate that living in an RV can be cost-effective in the long run; however, you should not let the costs deter you from choosing the living space that meets your needs. Living on the move can be rewarding as it gives you new perspectives, and you learn more while exploring. Good luck in choosing a suitable living space.