Used RVs
I have never owned an RV and am contemplating going out full time with my wife and two teen aged kids. As much as I think a fifth wheel would possibly give us the most living space, I feel the cost of...
Forum Discussion
10 years ago people in Internet forums would write about how foolish it is to rent your home and how great it is to own your home. After the Great Recession those people got quiet. Now the market it getting better and they are telling us how smart they are again. A house can be a good investment, but you probably need to stay in it for about 10 years before you've made real money. Then again, it depends where you are in the housing cycle, and you never know that until it's too late.
Houses have a LOT of expenses associated with them. Starting with paying interest (some of which is tax deductible, but not all), real estate taxes, homeowners insurance, yardwork, and unexpected repairs (big ones). And even if your mortgage is paid off you've got a real cost called 'opportunity cost' of what you could earn if you invested that equity in something else. I've owned and I've rented. My net worth has increased a lot more since I've been renting. But if you like to live in the same place for 20 years buying a home is (probably) the way to go. That's not where I am in life now.
How does that relate to this thread? In a lot of cases living in an RV can be cheaper than living in stick and bricks, even considering the depreciation/appreciation. But it comes at the cost of a lot less space, among other things. It depends on what you want in life. If you want to travel the country extensively, it's hard to move those sticks and bricks around.
Houses have a LOT of expenses associated with them. Starting with paying interest (some of which is tax deductible, but not all), real estate taxes, homeowners insurance, yardwork, and unexpected repairs (big ones). And even if your mortgage is paid off you've got a real cost called 'opportunity cost' of what you could earn if you invested that equity in something else. I've owned and I've rented. My net worth has increased a lot more since I've been renting. But if you like to live in the same place for 20 years buying a home is (probably) the way to go. That's not where I am in life now.
How does that relate to this thread? In a lot of cases living in an RV can be cheaper than living in stick and bricks, even considering the depreciation/appreciation. But it comes at the cost of a lot less space, among other things. It depends on what you want in life. If you want to travel the country extensively, it's hard to move those sticks and bricks around.
