You may be considering full-time RV living for any number of reasons. Perhaps you want to spend more time exploring the great outdoors, you like the idea of hitting the road at a moment’s notice or you’re looking to downsize to save money. But before you make a big lifestyle change, it’s important to think about the pros and cons of RV living.
If you need help purchasing, repairing or renovating a new or used RV, an RV loan could help you borrow a lump sum of money upfront. You’ll pay back what you owe in predictable monthly payments and a set payoff date, which could make budgeting for the costs a bit easier.
Here are some things to consider before you decide whether full-time RV living is right for you.
Pros of RV Living
Full-time RV living has a number of positive features that may attract you to the lifestyle.
Ability to Travel More
If you’re someone who loves to travel, living in an RV could open you up to a whole new world of adventure. An RV gives you the flexibility to pick up and move anytime and anywhere, within reason, especially if you work remotely or are retired and looking for your next act.
You could journey between national parks, drive to parts of the country you’ve never seen or visit family and friends in different states. And if you enjoy sports like hiking, skiing or off-roading, you’ll likely have your equipment with you at all times.
Lower Household Costs
Living in an RV may be more affordable than owning a home or renting an apartment, but it really depends on your lifestyle. You may be able to save on some common household expenses, such as a mortgage, property taxes and home insurance.
But if you’re staying in a campground or at an RV park, you’ll likely need to pay a nightly, weekly or monthly fee, depending on how long you’re there, which could cost almost as much as rent each month.
You’ll still need to pay for utilities, such as water and electricity, depending on how you hook up to these resources, but you’ll likely use much less than if you were in a traditional home. You’ll also need to pay for fuel— you’ll use a lot more than you would for a standard car — and insurance on your vehicle, and ongoing maintenance could also add up over time.
A Simpler Lifestyle
Living more minimally, which you’ll likely need to do in an RV, could help you feel freer and less tied to the physical items around you. You might also cut down on spending since you won’t have much space to use for storing items, and you likely won’t need as much for your day-to-day life.
Especially if you spend a lot of time in nature or off the grid, you may start to develop simpler daily routines around nourishing your body and mind by exploring the outdoors, making homemade meals and enjoying activities that don’t require being online or as connected to the outside world.
Cons of RV living
Full-time RV living also has a number of potentially more challenging aspects to consider.
Lack of Community
Depending on your plans, you may end up far from family and friends for a considerable amount of time. If you decide to move into an RV, it could be a good idea to think about how you’ll keep in touch with those closest to you and how you’ll make new connections on the road.
Of course, if you move into an RV park or live somewhere for months at a time, it may be easier to build a more consistent community around you.
Limited Storage Space
A minimalist lifestyle can be a refreshing change of pace, but it may wear on you after a while. Depending on the size of your RV, you may not have very much storage at all, which could become more difficult over time if you accumulate new belongings on the road.
Think about how lightly you could comfortably travel and decide whether you’ll need to rent a storage unit or if you would be okay getting rid of most of your belongings before you downsize.
Everyday Hurdles
Daily chores and errands, like shopping for groceries, doing your laundry or performing upkeep on your RV, may be more difficult to tackle if you’re moving around a lot. Additionally, depending on the size of your RV, it may be tricky to maneuver your vehicle around smaller towns or find parking outside of an RV park.
If you’re planning to work remotely from the road, consider how you’ll structure your week between work and driving, and if you’ll be able to find a strong enough internet connection or cell service.
Logistically, if you move around a lot, you may need to set up a P.O. box for important correspondence, such as taxes or bank statements, or use the address of a family member or friend. You’ll also want to make sure you’re signed up for electronic billing so that it’s easier to pay your bills on time from the road.
Do Your Research Before You Make the Move
If you’re thinking about moving into an RV full-time, you’ll want to consider the pros and cons beforehand. The ability to travel, potentially reduce your household costs and live a simpler lifestyle may have a certain appeal, but there will be challenges, too. A lack of community, limited storage space and logistics could make for a bumpy ride.
Think carefully about the positive and negative aspects of full-time RV living so that you can make the right decision for your situation.
Notice: Information provided in this article is for information purposes only and does not necessarily reflect the views of thepaintedhinge.com or its employees. Please be sure to consult your financial advisor about your financial circumstances and options. This site may receive compensation from advertisers for links to third-party websites.
