New to RV’ing need advice

[ShoalsChiro]

Let me preface this by saying, my wife and I have never owned a camper/RV before in our lives. We are currently in the process of downsizing our life due to my insurmountable student loan debt. We have three children, all under the age of 6. I don’t know the first place to start when looking for a new rig. I do know we need a bunkhouse. The rig will be set up at a permanent RV Park for the next few years. It seems every time we like a certain brand or model, I google and it’s getting blasted by reviews. Our budget is $55k. Is anyone willing to offer advice as we begin this new journey? Thank you.

[2edgesword]

First, kudos on going through the Dave Ramsey course. Second, kudos on taking his advice seriously.

Based on my experience RV's are typically not up to full-time living with kids. Kids are going to be kids and will push the construction quality of an RV to it's limits and beyond. Running, jumping, slamming doors, banging into walls, etc. and the normal, everyday type of wear and tear that are tough on a regular home will be especially tough on an RV. There may be some manufacturers/models that are more robust but I'm not familiar with them.

Beyond that the outdoor environment may not be very conducive for raising children. Are there other families with children in the RV park? Are there places to play for the kids that will be safe and secure? I'm guessing you've already looked into schooling and transportation to/from school.

These are some of the things that come to my mind when considering your situation in addition to how long you're going to need to live in these circumstances until you'll be out of debt and to the point where you'd consider going back to traditional living arrangement. If it's one or two years maybe it's something to tough out and get it done. If it's five or ten years that makes the decision quite a bit tougher.

That said I'm hoping for all the best to you and your family.

[ncrowley]

I would also look for RV parks that allow park models. Park models are better insulated and therefore you would pay much less for utilities which will be expensive in the summer. When you are in an RV park long term, as you will be, the electricity you use is charged separately. There is also more room in a park model for you and your kids.

If you will not budge off the idea of a fifth wheel, purchase an older one that is of better quality rather than a new one of lesser quality. You want one that is built well, with good insulation and quality components. Getting a new one with a warranty is not going to compensate for poor workmanship. Also, as stated, where are you going to live while the RV is in the shop for warranty repairs?

[MFL]

While buying new comes with a warranty, it is usually just a one year, two at most. Warranty work takes time, often weeks, before dealer even gets warranty approval. Where would you live, when trailer is at dealer for repair?

I'd suggest a 2-4 year old trailer that has been well kept, and all the fix up/warranty issues done. Most new trailers do have issues. Often times it is better to handle these yourself anyway, even if under warranty. You can buy a lot of trailer, after several years of depreciation, and not lose as much, when changing your mind, moving in a different direction.

Jerry

[BarneyS]

Moved to General RVing Issues forum from 5th Wheels.

[donn0128]

ShoalsChiro wrote:

Tyler0215 wrote:
You are struggling with student loan debt, but you have a budget 55k for a new RV? Whats wrong with this picture?????

We currently live in a house, we had talked about taking the profit from the sale of the house and buying an RV. Obviously, there's more to our financials that I don't plan on indulging on. However, after learning of the severe hit on depreciation, and needing to use equity to further pursue my career. Getting out from underneath our current mortgage and into a camper "seemed" like a logical decision. Now I'm second guessing that logical thought.

The house Appreciates in value even in poor economic times. The RV Depreciates in value. Buying new you could expect to loose 30% just towing it off the lot.
To get an RV large enough for 5 your going to need a 40 footer. 8x40 equals approx 350 SQFT of living space. That equals to a living room, a bathroom and half of a kitchen. Where are you going to put all their clothes and toys? How about your clothes? Can it be done? Sure, I know folks doing it and have done it for years. Kids are hpme schooled, husband has a job that allows them to work from anywhere. They have been on the road for years, usually spending months at a time in one place, then moving on. Their now talking about settling down and buying a house again. They have gone through several trucks, have a second car for wife. Not sure how many trailers right now. But believe me it aint cheaper. A used mfg home might be your best choice.

[jim1521]

Shoals,
Don't be discouraged. As a SCUBA diver, we're always taught "Plan the dive, and dive the plan". In other words, take your time to think through what you're going to do, how you're going to do it, what are the risks involved, what the rewards you expect, and what is Plan B if Plan A goes off the rails.

Once you've done that, THEN sit down and think about executing on the plan.

DAILY LIFE QUESTIONS
What is the school system like?
What is the crime rate like in the area?
What is the neighborhood like (inside AND outside the park)?
How many kids live in the area?
How far is it to work?
What is the cost of living like in the area?
How far do the kids have to travel to school?
What about new doctors/dentists?

5 YEAR BUSINESS PLAN
Where do expect to be financially in 5 years?
When do you want/expect to be out of the RV?

MAINTAINING THE RV
Are you handy with tools?
Can you fix things yourself?
Do you have the time and tools to fix things yourself?
If you can answer YES to those questions, consider buying a used (1-4 years old) 5th wheel. It will be much easier to sell a 5th wheel than it will be to sell a Park model (see 5 Year Business Plan above).


Let's start there. I'd like to see you succeed.

This would be a good model to look at: 2015 Montana 356BH

[ShoalsChiro]

Tyler0215 wrote:
You are struggling with student loan debt, but you have a budget 55k for a new RV? Whats wrong with this picture?????

We currently live in a house, we had talked about taking the profit from the sale of the house and buying an RV. Obviously, there's more to our financials that I don't plan on indulging on. However, after learning of the severe hit on depreciation, and needing to use equity to further pursue my career. Getting out from underneath our current mortgage and into a camper "seemed" like a logical decision. Now I'm second guessing that logical thought.

[ShoalsChiro]

Me Again wrote:
Buy the time you can fine a place to put it that you can afford, I do not think you will want to raise young children in that environment. Think about them and their future as your number one priority.

Google some parks that you think you might be able to afford and go drive threw them and look at what you see there!

I understand that, I'm leery myself, as this is one of my main concerns. Safety. There aren't many sites in our neck of the woods that is close to my job. The one we are most interested in has 37 sites, is 10 minutes from the office, and has security cameras placed throughout the park. I am in no way saying this is a definitive decision for us, but I certainly want to make sure every rock is uncovered before we make such a life changing decision. Thank you

[ShoalsChiro]

I am certainly appreciative of the advice. I'd like to state a few things on my behalf as we navigate these waters.
We took Dave Ramsey's class last January through our church, his teachings have actually encourageed us to make this huge leap of faith. We started out by being, ish', as he calls it and now it's time to hunker down and get after it.
The 55k budget was going to be used via the sale of our current house we live in. We were going to take that money, and put it towards an RV. This knocks out a mortgage payment, water payment, utilities payment.
We have two vehicles, ones an 02' the other is an 11'. We have the 11' up for sale to pay off the remaining loan on this and take the left over money to knock out my wife's student loan debt. Put's us with only having my student loan debt and a potential house/camper/mobile home debt.
I am simply asking for ideas and suggestions, I was not trying to degrade or put down anyone who lives this lifestyle. It intrigued us as a possibility. With the student debt I've accrued, leaving my career field is not an option. Stick it out, build it up, live life, and then die.
My wife's family does a lot of camping in IL, their advice was to buy new due to the warranties and b/c we would know whats going on with the camper.
We are located in Northern Alabama, it will get cold from time to time, and the freezing of lines could be a significant issue. I'm not trying to reinvent the wheel, I'm trying to get us to a stable place to set up for long term planning. Maybe this won't end up being the avenue we take, but I sincerely appreciate all the advice ya'll have offered.
We drove through the potential park on Saturday, they don't allow park models. They seemed to have a somewhat decent camera system set up for security. The rent was $425 and that included water, electric, sewage, and wifi. Obviously I'm new to this, maybe there are caps on all this, once our spot hit certain numbers it would fall back on us to pay prices once it exceeded allowed amount. Thanks ya'll

[Jayco-noslide]

Make sure you research the economics of doing this. I assume you mean to live in it? Especially with a new one the depreciation is brutal and that needs to be part of the cost. I'm not sure it will be less than an apartment over a 5 year period. Also, any RV will be confining for 5. As far as reviews, RV's in general are not real well made.

[DownTheAvenue]

On the surface, RV living seams cheap. There are hidden costs. With three small children, you will spend $20 a week just at the laundromat. The lack of storage and small refrigerator means you cannot take advantage of grocery sales and stock up. That could easily cost another $20 a week. RVs are energy inefficient. Most long term parks require you to pay for electricity. Propane to heat in the winter will be expensive- RV furnaces are horribly inefficient. This could easily add up to another extra $20 a week over conventional housing. This is over $3000 annually in extra costs.

There are only two problems with any finances: not enough income or too much spending. Most families suffer from both. You would be better off obtaining conventional but cheap housing to save money while finding ways to trim your expenses and increasing your income. (Hint: you don't need two cars both with payments!)

Dave Ramsey, as previously mentioned, is extreme but it works. That is a much better approach than a $55,000 RV!

[MNGeeks61]

I don't think there's enough info here, but don't put 55,000 into an RV. Buy a mobile home or maybe an apartment or even a park model with upgraded insulation.

We spent 50k on a park model in a campground that we own the lots (HOA type). Our payments are spread over 12 years and around 250 per month. We have a loft that allows one person to have their own little 8 by 10 room, anyone else would be on a couch or futon. Electricity, water, lot rent would be things to consider in an RV park. Definitely cheaper than a house payment @ 1000-1200 per month. But environmental factors may vary.

[MNGeeks61]

Cummins12V98 wrote:

Tyler0215 wrote:
You are struggling with student loan debt, but you have a budget 55k for a new RV? Whats wrong with this picture?????

BAM!!!

x2 plus his profile links to an rv park. lol

[ppine]

Buy a used rig and don't spend more than $20k.

[Cummins12V98]

Tyler0215 wrote:
You are struggling with student loan debt, but you have a budget 55k for a new RV? Whats wrong with this picture?????

BAM!!!