First RV for full timing: Used or New?
Hey everyone, I'm new here and I'm soon to be new to the Full time RV lifestyle as well, and I was hoping to get some advice from some experienced Full timers. First for a little background, I'm 2...
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Here is my advice that will pay off handsomely years from now and you will regret not following it:
1. A RV is not meant for full time stationary living. You will find it will depreciate and deteriorate at a rate much greater than anticipated. Monthly out of pocket living expenses will be greater than any other housing because utility costs will be greater because of energy inefficiency and monthly lot rent will always be an increasing amount with inflation and demand.
2.While most debt is dumb, some debt can be good. The real estate market in your area is still depressed, and interest rates are currently at historic lows. Now is a great time (probably the best ever) to purchase a single family home. Even with a 15 year mortgage, you can find quite affordable homes that will be in nice areas. As you grow in your career and your income increases, make extra principle payments on your mortgage, and in less than those 15 years, even 5 to 10 years, you will have a paid for house that certainly has increased in value.
THAT IS HOW YOU GROW YOUR NET WORTH.
1. A RV is not meant for full time stationary living. You will find it will depreciate and deteriorate at a rate much greater than anticipated. Monthly out of pocket living expenses will be greater than any other housing because utility costs will be greater because of energy inefficiency and monthly lot rent will always be an increasing amount with inflation and demand.
2.While most debt is dumb, some debt can be good. The real estate market in your area is still depressed, and interest rates are currently at historic lows. Now is a great time (probably the best ever) to purchase a single family home. Even with a 15 year mortgage, you can find quite affordable homes that will be in nice areas. As you grow in your career and your income increases, make extra principle payments on your mortgage, and in less than those 15 years, even 5 to 10 years, you will have a paid for house that certainly has increased in value.
THAT IS HOW YOU GROW YOUR NET WORTH.
