Forum Discussion
toedtoes
Jun 27, 2016Explorer III
Will an RV Resort let you rent out the lot? Some condo associations have rules about renting also.
The biggest problem I see with buying a condo now and going FT in the RV is that your nice pretty new condo that you pick out will have been lived in by renters for X number of years. When you're at the point where you want/need to give up RVing, who knows what kind of shape that condo will be in - or what the neighborhood will be.
I'd say put the equity away, using sound qualified financial assistance, for the time being. Let it build in interest while you're out fulltiming. When you reach the point where you want to stop fulltiming, then look into buying a place. If you buy now, you don't want to put your belongings into the condo with renters living there so you'd have to add storage on to the expenses. So, buying now means association dues AND storage fees. Buy later and you're only putting out storage fees for the foreseeable future. Put away the money you would have put out on association dues and gain a bit more security for the future when you can't work for extra money.
The biggest problem I see with buying a condo now and going FT in the RV is that your nice pretty new condo that you pick out will have been lived in by renters for X number of years. When you're at the point where you want/need to give up RVing, who knows what kind of shape that condo will be in - or what the neighborhood will be.
I'd say put the equity away, using sound qualified financial assistance, for the time being. Let it build in interest while you're out fulltiming. When you reach the point where you want to stop fulltiming, then look into buying a place. If you buy now, you don't want to put your belongings into the condo with renters living there so you'd have to add storage on to the expenses. So, buying now means association dues AND storage fees. Buy later and you're only putting out storage fees for the foreseeable future. Put away the money you would have put out on association dues and gain a bit more security for the future when you can't work for extra money.
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