New to RV’ing need advice
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 hav...
Forum Discussion
ShoalsChiro wrote:
. . . 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. . .
RV quality varies considerably by manufacturer, and unit to unit. I doubt any RV is as reliable as a well-made automobile, so its not as easy as picking a new car with a good reputation and having almost everything covered by the warranty and following the normal service schedule. If your read these Forums, you'll see that dissatisfaction with quality control and service & maintenance issues are persistent topics. Those who are handy (and have the time) can address some of the issues themselves, but it's real work. Most RVs are used only part-time - they aren't expected to be used 24/7 by a family of 5, so wear & tear may be a larger problem for you than most here.
As others have noted, your house will likely appreciate in value, while any RV would depreciate, and possibly be worth very little in a few years. With the changes to the tax code, increasing the Standard Deduction & Child Tax Credit, would renting an apartment be a better option? You could still use the house sale proceeds to reduce your student loan debt, but you'd have greater cost certainty and perhaps a better living arrangement.
You're already doing pretty well if you own a house with some equity, despite your student loans. Maybe you just need to stick it out, rather than look for a quick fix? The student loans may be a drag, but the balance will decrease every year, and your home equity should increase steadily. Good luck with whatever you do.
