Is it Cheaper to live in a House or RV?

[whj469]

I spent a week in Livingston, TX at Excapees in late July 2012. I had an electric meter at my site and it was hot and humid, very hot and humid.

With both ACs running a lot of the time, my electric bill was $5.60 per day at 12.5 cents KWH.

[Bentspoke]

We priced a local RV park just for comparison, and the $315 a month with all utilities beats the house by at least 100%. My wood pellets alone in the house run $200 a month, and that is not counting other utilities, taxes, upkeep. To top it off, we still have the rv expenses, such as ins and tags, even when we're not using it.

I'm going to add up home costs vs anticipated RV costs, I'm afraid if I do the house will be up for sale much sooner than planned, it will not even be close.

[travelrider73]

 

My travels will be to Michigan, North Dakota, Tennessee. I will travel to find work mainly in five years. Then sell the truck and camper. The only problem I would have also is the gas mileage. What would it cost to travel to all these states in fuel? Camper weight is 3700 lbs and pulling a Ford Escape as a toad.

 

At one time I was thinking about buying a Ford Transit Connect van and having a electric roof mounted heating/cooling unit installed. I would have lived in it. I have lived in off and on in travel trailer for five years in the past and enjoyed it.

 

Hauling all of that weight - 8mpg maybe? At $4/gal that's $0.50/mi just in fuel. Add wear and tear on the tow vehicle for brakes, tires, and other items wear and tear on the toad tires and brakes, etc,... Would you all say that $0.80/mile is a fair estimate on a used truck where you don't really need to consider additional depreciation?

 

I was estimating $1.00/mile for wear and tear on a truck and 5er with a total of 12 tires rolling, so I'm interested in the answer to this question for my own purposes too...

 

Edit:

(Oops, I didn't realize that I was responding to a post that was over a year old, but nevertheless, I'm interested in whether my estimates seem reasonable)...

[Kirk W]

(Oops, I didn't realize that I was responding to a post that was over a year old, but nevertheless, I'm interested in whether my estimates seem reasonable)...

One of the problems with your estimates is that tires age out on most RVs long before they wear out. Most of us(but not all) agree that it is wise to follow the manufacture's guidelines and replace all tires when they reach somewhere around 7 to 10 years of age no matter what the wear condition is. In all of my years of RV experience, I don't remember ever replacing a tire on an RV because the tread was all worn off.

 

Fuel consumption is another variable factor as there are larger RVs that get only 6 mpg and there are a few smaller ones getting 10 or more mpg. You need to use the fuel consumption of the RV that you choose to travel in.

[whj469]

I would not want to live in my fiver where it takes $200 in wood pellets to keep your S & B warm. To me RVing makes sense because you are able

to follow the temp that you like and get away from both cold and hot and humid. Good luck

[travelrider73]

One of the problems with your estimates is that tires age out on most RVs long before they wear out. Most of us(but not all) agree that it is wise to follow the manufacture's guidelines and replace all tires when they reach somewhere around 7 to 10 years of age no matter what the wear condition is. In all of my years of RV experience, I don't remember ever replacing a tire on an RV because the tread was all worn off.

 

Fuel consumption is another variable factor as there are larger RVs that get only 6 mpg and there are a few smaller ones getting 10 or more mpg. You need to use the fuel consumption of the RV that you choose to travel in.

 

Good point on the tires, and since I'm going to go Class 8, that means the truck tires are going to likely wear out as well before I run them out of tread. Of course, my "starter rig" may get traded before that becomes my problem to deal with. But 10 to 12 tires will be a rough day at the tire shop!

[skp51443]

If you pick a tire shop in a no sales tax state the pain will be less.

[Roamer]

All this is good reason to think carefully about your rig choice. For instance, a Dodge/Mercedes Sprinter van (V-6 diesel) can achieve 20+ mpg. And if the van alone isn't enough room for you, it's capable of pulling a decent-sized travel trailer. With a rig like this, you are looking at 6 tires instead of 12. But keep in mind that diesel fuel generally costs more than gasoline.

 

If a 5th-wheel is your thing, keeping the size down can help a lot. The new Dodge Ram half-ton gasoline trucks are rated for 25 mpg highway (unladen), can pull a small 5er or TT, and can be purchased brand new for about $25k with a 100k mile warranty. And again, 6 tires instead of 12.

[travelrider73]

All this is good reason to think carefully about your rig choice. For instance, a Dodge/Mercedes Sprinter van (V-6 diesel) can achieve 20+ mpg. And if the van alone isn't enough room for you, it's capable of pulling a decent-sized travel trailer. With a rig like this, you are looking at 6 tires instead of 12. But keep in mind that diesel fuel generally costs more than gasoline.

 

If a 5th-wheel is your thing, keeping the size down can help a lot. The new Dodge Ram half-ton gasoline trucks are rated for 25 mpg highway (unladen), can pull a small 5er or TT, and can be purchased brand new for about $25k with a 100k mile warranty. And again, 6 tires instead of 12.

 

If you're replying to me specifically, then - Class B doesn't work for full time especially coming from a 1600sf house.

Even a small 5er that would be towable behind a 1/2 ton truck won't do for us. We're looking at the HEAVY 40 foot plus models with three and four slides. That's F450 territory on the low end. I'm thinking about getting a Class 8 HDT with a SMART car bed and towing the 5er with that. And while the initial outlay is quite a bit of money, I still think I'll end up living cheaper than keeping my house. No more property tax, lawn service (in Florida it's a weekly task), pool service, lower utilities cost by far I would think, no more mortgage payment. (We're not buying more than we can pay cash for, so we'll be free and clear - maybe close to broke, but free and clear nevertheless). I won't mention maintenance costs because I'll assume the RV and truck will cost as much to maintain as the house (if not more), but overall, I really suspect it will be cheaper than our current situation. And as a bonus, we won't buy anywhere near as much crap on a whim. In an RV you have to think "Where am I going to put this?" before buying some gadget you don't really need.

 

As for depreciation on the rig instead of appreciation on a house - we're going to take that mortgage payment we're not making to a bank and invest it every month. That should create a nice nest egg to replace the appreciation - and if we ever decide to go back to S&B maybe we can pay cash for a little house at that point.

[Kirk W]

As for depreciation on the rig instead of appreciation on a house - we're going to take that mortgage payment we're not making to a bank and invest it every month. That should create a nice nest egg to replace the appreciation - and if we ever decide to go back to S&B maybe we can pay cash for a little house at that point.

You are very wise to be thinking of what happens at the end of the road. At some point in time all of us will need to do either major upgrades or replacement of the RV and eventually health, family circumstance, or age will dictate that we stop traveling. Both Stanley and I found that point came before we expected it. Some things are impossible to predict with accuracy and some form of loose plan will make ti changes less stressful when it comes.

[Biker56]

I won't mention maintenance costs because I'll assume the RV and truck will cost as much to maintain as the house (if not more), but overall, I really suspect it will be cheaper than our current situation.

Don't forget the deprecation cost of the HDT and 5th you will have every year.

I figure my MH(paid cash) has averaged a little over 5K a year, every year for the last 11 years.

And I knew that would happen coming in.

 

Home I had for the previous 9 years was paid off and I sold it for 20K more then I paid for it.

Insurance/taxes for it was about 40% of the MH's insurance.

But I couldn't move it to warmer weather in the winter.

 

When I come off the road it will probably be either to a small rental, nursing Home or in the plot and box by the headstone I have already prepaid for all.

[homelesshartshorns]

I have a house on the Lake of the Ozarks I would sale you! As we wish to pack up and see what RV living will cost. I can also help you with the financing.

 

http://loz.craigslist.org/reo/4311242461.html

[nowawannab]

David and Lorna, sounds like you are living close to the way we do now, even before we get our first MH......guess it is just the way we are.......don't try to keep up with the "Jones's" and don't care what THEY think of our way of living. Yes, a very long post, but it is encouraging to read of your experiences without having to spend a ton of $$$$. Thanks for your story.

[threesanhill]

No, there are many things to be considered

[RomaniGypsy]

Trying to make up my mind to buy a house or buy a RV? One of good things about RV's is you don't have stay in one place.

 

 

Thanks, Bob

Bob,

 

From a guy who full-timed for 8 months and then bought a house, I can give you some thoughts.

 

First of all, it depends upon where you live and what kind of rig you have. My RV payment was $176 and my house payment is $358.

 

Secondly, it depends upon what you want to do. If you want to full-time at a campground, you have those fees. If you want to travel a lot, you have those fees, gas costs, etc.

 

Figure that it will be more expensive to heat your RV compared to your house - the RV is not as well-insulated. In the dead of winter, I was paying $200 per month for propane in the RV. My highest gas bill for the 1,700-square-foot house with an antique furnace in this record-breaking Ohio winter - $220.

 

It can be much cheaper to full-time in an RV if you stay put and/or follow the good weather... but again, it depends upon your lifestyle. We like Internet access. It cost almost $200 per month for our air card, which had patchy reception and sometimes poor speed, for all of the usage we needed. At home, for unlimited usage at better speeds - 16 bucks a month. We like having a phone. Even the cheapest cell phone is going to be $40 per month. The cheapest home line - $10 per month.

 

For us it was a tad cheaper to live in a house... but we're quickly coming to find out that RVing is cheaper than tent camping.

[Bill & Janet Adams]

I have not read all the posts but I can tell you that it is ABSOLUTELY cheaper to live in an RV! Wait for it....folks are just waiting to pounce.....

If you DO NOT MOVE it's cheaper to live in an RV. If you only move from time to time it might be cheaper to live in an RV. If you move on a regular basis it may cost more to live in an RV. If you move frequently, it is likely going to cost more to live in an RV.

You just have do determine your own budget, what your plans are (or would like to be) and try to plan your life based upon these parameters.

[moonlightrunner]

It does really depend on so many factors. One of which is how much it was costing you to live in your house. My last house (last husband had it before we got married) was a huge money sucking waste of space. I know that any RV Park I go to will be cheaper than the what that house cost. Exceptions being those "Motorcoach Resorts" with maid service, valet parking, chefs, etc. That said, I do not work and live off of old investments (property not stocks & bonds). I plan on RVing until I drop and I figure I have a long time to keep going (only in my 80's). I have found that you can reduce costs by staying at the monthly rate and then moving on. Gives me plenty of time to check out an area. I don't rush and take my time. I also pick my spots to stay carefully so that I can stay for a month or more and still have plenty to see at a luxurious pace. Bill Adams is right. Personal choice. If you are trying to keep costs down, you can. If money is no object, you can run thru it like water. All up to you. I've got RV friends who live far below my monthly expenses and friends who live well above my expenses.

[Barbaraok]

I have not read all the posts but I can tell you that it is ABSOLUTELY cheaper to live in an RV! Wait for it....folks are just waiting to pounce.....

If you DO NOT MOVE it's cheaper to live in an RV. If you only move from time to time it might be cheaper to live in an RV. If you move on a regular basis it may cost more to live in an RV. If you move frequently, it is likely going to cost more to live in an RV.

You just have do determine your own budget, what your plans are (or would like to be) and try to plan your life based upon these parameters.

It just depends upon what you live in in terms of a house. Even moving every 2 weeks or so, this is cheaper than living in our 3500+ sq ft house.

 

Barb

[folivier]

Let's see, the house we just sold was 1.6 acres, 3200 sq. ft., pool, 3000 sq. ft. barn. Property taxes were about $4k, insurance $6.5k, utility bills averaged $500/mth. Maintenance, anywhere from $3k on up. It was paid for so we had no mortgage. So the house cost about $20k/year. Now it was very nice. But since the kids were out on their own and I got tired of searching for my wife we decided to downsize. We could have gotten a 1500 sq. ft. or so house in a nice retirement community with clubhouse, golf course, etc. for much less but the yearly cost for the same as above would have still have been at least $12k, again with no mortgage.

We decided to full-time so bought a 1998 Newell for about half of what the retirement home would have cost. Insurance is about half. Utilities are sometimes included in campground fees. Have no property taxes. Maintenance costs could be anywhere from $2k up to or more than $10k. But you have the same risks in a house. So for us it is cheaper than living in a house. Even considering the fuel costs of traveling. But the thing to remember is you have control over the fuel costs. And the memories are priceless!

[Kinsa]

Interesting thread, albeit an old one.

 

We have been living in the RV for a year now. I agree with the assertion that it really depends on so many factors.

 

We moved out of a 4000sqft house in a lovely HOA neighborhood. For our family of eight, this house wasn't too large. The mortgage on that house cost us $2500 per month. The associated property tax, HOA fees, and utility bills were outrageous.

 

We have found *for us* that RV living is cheaper, even while paying for full hookups every night and driving every few days - in TWO vehicles, even - AND paying airfare/hotel/car rental every couple of weeks for dh to fly back "home" to work.

 

So this just shows that the answer to the question really depends on so many factors.

[drifting]

Hi Bob. You may not like this answer, but full timing in an RV costs whatever you spend, and so does living in a house. We know people who happily do it for way less than we do. We know people who do it for way more than we do. Where will you be living? What kind of rv or house are you comparing? Would you be getting a loan for either? How do you anticipate spending your time in either one. Where would you camp? There are so many factors that your question can hardly be answered by anyone but you.

[ganto]

mcbockalds, on 27 Nov 2012 - 5:44 PM, said:mcbockalds, on 27 Nov 2012 - 5:44 PM, said:

I wonder if you shouldn't also be comparing buying an RV with renting an apartment or house instead of just looking at buying a house? This option also gives you more freedom to move.

 

Also, I think the question of whether it is a better financial decision to buy a house or rent has thoughtful advocates on either side of the debate. Obviously, these days many home owners wish they weren't.

 

Cheers John

I agree with you about renting when you find a new place that you might want to live for a while vs buying a house. he might not even like where he found to live or have a bomb dropped on him. I personaly rent before I bought a house and forked up all that money. atleast in a lease the owner might let you break the lease if you can find someone that would rent the place or they might keep your security deposit for expences like for placing an ad ect ect

[drifting]

When buying a house, you have to consider maintenance and mortgage interest. Over a normal 30 year mortgage, we would have paid for our house three times in interest if we had not accelerated our payments. You'll have to do the calculations yourself with your own interest rate and loan amount.

[Jerry-H]

"Is it Cheaper to live in a House or RV?"

 

It's simpler to answer the question "CAN a person live cheaper in a house or RV?". I think the answer is a resounding "YES" on the RV.

 

Say for example, a guy acquires an older RV in the "free-to-$5,000" range, throws a few solar panels on it, and boondocks/drycamps full-time, southwest in the winter, higher elevations in summer.

His usual costs are mainly food, a little propane, and some gas, although he keeps his driving to a minimum. There isn't any house purchase and maintenance that can match this expense-wise.

 

This is the real cheapo end of the spectrum, but you can find your own comfort and enjoyment level in a higher dollar range and still be way lower cost-wise than sticks-n-bricks.

 

Of course you can spend more on RV living than a house if you choose to do so, for example, buy a million-dollar RV and stay in posh resorts, etc.

[wa_desert_rat]

There you go... can't answer it better than that!

 

WDR