What is it Like to Live in an RV After Retirement?

We are pleased to include an article from a guest blogger, Phil Bradford, who generously donated his time to write about the RV experience.

What is it Like to Live in an RV After Retirement?

By Phil Bradford, Guest Blogger

Has living in a recreational vehicle been your dream sometimes? It may not be too late. Now that you have retired, you can have location flexibility and time to enjoy nature and enjoy life to the fullest.

Researchers have revealed that between the years 2000 and 2014, after the economy began to recover from the tech bubble crisis, the RV industry grew by about 115%. Data also indicates that from Baby Boomers to Millennials, people all over the nation have embraced this adventurous lifestyle, and retired people are not left behind.

Advantages of living in an RV after retirement

If you and your partner want to explore your retirement days in an RV, here are some advantages to help you think that you’ve making the right decision.

Travel and rest wherever you like

One of the biggest advantages of living in an RV is the flexibility to move from one place to another as per your wish, stop where you want to, and spend the night where you feel like without any reservations. However, it’s better or sometimes necessary to park your vehicle in a camping ground.

It just might be the perfect way to spend your retirement days and enjoy a new chapter in your life.

Get lots of time for yourself and your family members

If you think that there’s no social life when you live in an RV, you don’t know the whole story. Many camping grounds have swimming pools, jacuzzis, workout rooms along with places to throw parties. You can also spend spare time fishing or visiting the flea markets. RV owners are generally quite friendly, and often meet new friends in campgrounds, and remain friends for long after.

You will also get enough time to pursue your hobbies, which you couldn't do during your working days. You just have to clean your RV which will usually take less than 10 minutes; no need to mow the lawns and do the household chores to keep your house tidy and clean.

Save money on rent and utilities

The new trailer units cost around $8,000 and you can purchase a used motorhome at around $20,000. However, a luxury Fifth Wheel travel trailer can be more than $50,000. So, you can choose your option according to how much you want to spend.

A used tow or pull vehicle can cost around $20,000.

Now comes a campground where you’d have to park your recreational vehicle. A decent campground can cost around $225 per month. However, it can go up to $700 or more per month depending on the area and the facilities.

Utility bills - Usually it is less than $100 per month. So, you’ll save quite a bit on your utility bills by choosing RV over a conventional home.

You get to stay in a secured place

When you stay in an RV, you are surrounded with quite a bit of other people. You don’t have to stay secluded in a home.

Moreover, campgrounds usually provide good security and the patrolling facility is also available in some of them.

In times of natural disasters, you can just drive your vehicle to a different destination, and be stress-free.

And, if you don’t like a campground, you can just hook up and leave for a new destination.

Disadvantages of choosing an RV over a conventional home after you retire

It is true that living in a recreational vehicle is a dream come true for many of you retirees, but make yourself aware of the disadvantages, too. It will help you make the necessary arrangements or plan your life before you think about selling your home and buying an RV.

Difficult to get good WiFi in the campgrounds

Most of the campgrounds don’t have a good WiFi connection. So, make sure you have a smartphone with proper hotspot capability and bandwidth so that you’re connected to the world. Moreover, be prepared to view television through the hotspot.

So, have a talk with the service providers and explain to them that you need good bandwidth to enjoy these facilities on the move.

Less space for your stuff

Another major problem which you have to deal with is space crunch. No matter how big your RV is, it can’t provide you with as much space as your home. By the time you retire, it’s likely that you’ve accumulated quite a bit of stuff. So, consider that factor and be prepared to get rid of things so that you can live comfortably in a recreational vehicle.

RV travel - Useful tips and what you need to know

Here are some travel tips for you who want to opt for safe but adventurous golden days.

Monthly expenses you have to bear

Most RV parks charge about $15 - $50 for a night but, you might get one even at $10. However, they usually offer a discount rate if you take it for a month.

If you want to experience an RV lifestyle, at first, you can rent one and check out whether or not you like it. It is better to be acquainted with living in an RV before selling your home, which might have taken years to build 100% equity.

Rental costs usually vary depending on the type of RV you choose; however, it is usually around $30 - $300 per day.

You can check out on the internet to find the organizations who rent such RVs and you can choose one as per your preferences.

One useful tip: When you are roaming around in an RV, for say a month, try to rent out your house (or a part of it) and earn significant dollars.

Yearly maintenance costs you should be aware of

For a small travel trailer, you may have to shell out about $100 for the tires every 5 years. However, if you’re buying a diesel pusher motorhome, then you have to change the oil and filters after about every 5,000 miles, which may amount to $100 - $200. Make sure you opt for an extended warranty for sudden maintenance which you’ve not included in your budget.

Select destination before driving due to the fuel cost

The cost of fuel is one of the major costs one should be concerned about when choosing an RV over a conventional home. You have to budget the cost as per the size of your vehicle.

·         The diesel RVs give a mileage of about 10 MPG.

·         You can expect about 15 MPG for a smaller Class B one.

·         A moderate-sized Class C vehicle might give about 12-14 MPG.

·         While buying large gas RVs, be prepared for less than 10 MPG.

However, it also depends on the condition of the vehicle.

You need to consider another important thing when you decide to roam around in an RV. Gather knowledge about the place you’re visiting so that you’re aware of the fuel cost. It’s usually higher in the prime cities and the cost usually fluctuates depending on the weekdays and weekends.

It’s not difficult mathematical calculations. Just take into account these things, budget accordingly, consult with your retirement financial planner, and enjoy life in a recreational vehicle.

Phil Bradford is a Freelance Professional Finance Writer

Paragon Wealth Strategies
10245 Centurion Pkwy N. Ste. 106 Jacksonville, Florida 32256
Phone: (904) 861-0093