Are You Financially Prepared to Be a Full-Time RVer?

It can be incredibly appealing to think that RV life will set you free from a mortgage or rent, homeowners’ or renters’ insurance, and other typical expenses that go along with sticks-and-bricks homeownership and apartment dwelling. 

And in a sense, it’s true. You will have a lot of freedom as a full-timer. But there are lots of expenses involved with full-time RVing that you’ll need to be prepared for. 

Buying a Rig

Perhaps the biggest expense you’ll have as a full-time RVer is to buy the rig itself. You might choose to look for a used travel trailer that’s $10,000 or less on Craigslist, or you could plan to buy a top-of-the-line diesel pusher that costs $250,000. Whatever you do, select an RV that is suitable for your usage needs and camping style.

Other Expenses 

Other expenses you’ll need to budget for:

• Gas and propane – Whether you have a motorhome or a TT, you’ll need gas to get around. And you’ll need propane to run appliances and cook. 
• Food, household goods, and supplies – This expense could stay relatively the same as you’re used to. 
• Insurance – RV insurance is a must if you’re a full-time RVer. Don’t forget health insurance and vehicle insurance if you have a vehicle that tows your rig or a toad.
• Taxes – Yes, you still have to pay taxes, even if you full-time. 
• Cell phones and internet – This line item is incredibly important, especially if you intend to work from the road. Finding a reliable WiFi signal in most campgrounds is tricky so be prepared to spend extra on gadgets and internet service plans.
• Lodging – You can find places to camp/boondock that are free, but you will likely have to pay for campsites and hookups every now and then. 
• Maintenance and repairs – RV ownership demands an extremely consistent maintenance schedule. And even when all the systems are properly maintained, repair costs will arise. 

So is living the full-time RV life impossible? Absolutely not! It just takes some careful planning and budgeting to ensure you have the finances on hand to live the way you’d like to.

Are you already a full-time RVer? What recommendations do you have for anyone who wants to full-time? Let us know in the comments or contact us today!