My daughter in law bought a home then rented it out and bought another to live in. The rental was going south. I told her to let it go. Which she has done. Credit? She doesn't need any. It will keep her from overextending herself again. Once it's cleaned up she will have learned a valuable lesson. I am single & I have thought about renting my residence and trying fulltiming. But @ my age (64) it would be for a short time. I can't see fulltiming being much cheaper than a home. Unless you boondock as often as possible and keep travel to a minimum. Fuel costs and maint will be more than you think. I have a 5er & truck that is paid for. but I am still hesitant about it. Last summer my mother became ill and I went to stay for a while. She lived with my brother so I took my 5th wheel. 3600 mile round trip. Fuel cost was a little over $1700. I parked @ my brothers house and didn't eat out. I was shocked @ the cost of that trip. Had to do an oil change while there $110 doing it myself. Got home and spent over $1000.00 on new tires for the dually. Prior to leaving $800.00 for tires on the trailer. Mind you the tire costs are not anually but you get the pic. Heaven forbid I lose a $10,000 eng. Fulltiming in parks will be a large expense. When you add it all up I think you should do the math and see if it is really the cheaper route to take. Your food medical and gen expenses will remain. What I have decided to do is keep the house and just take extended trips. My situation is a lot different than yours due to me selling some vacant land I owned clear and selling a rental and making enough to pay off the mort on my residence. I still think fulltiming is for someone with good income. My SS and modest union pension is not enough to make me roll the dice. Just crunch the #'s and see if it helps your situation. If it doesn't you will be miserable not having more than an RV. If it takes most of your SS to exist on the road you better love the lifestyle cause you will be stuck in it. Then in your 60's you want a 30 yr mort? What if the housing market is up a lot @ that time. Around here it's a sellers market. I sold both properties between a thur and the following Monday. Home sold for $10K over listing price. Think past the next ten yrs. What will happen if a Med condition forbids one of you from living on the road? You, my friend have a lot of things to process. I wish you luck and may God bless you & your family.
