Do you have an RV’ers Full Time Question “Sell or Rent House”.
Have you been in your rig more and longer than you have at your sticks and brick house.
If you have you are probably asking the RV’ers Full Time Question “Should I Rent or Sell House”
An RV’ers Full Time Question “Sell Or Rent House”
- How To Know If Going Full Time Is For You
- Is Your House Paid Off
- No Extra Funds To Purchase RV
- Leaving A House Unoccupied
- Renting Out Your House
- Income Replacement
- Selling Your House
The all time ever challenging question that faces an RV’er is always should I sell or rent my house and go full time. The approach to this question shouldn’t be taken lightly.
The way that you approach this and research the options that are out there could determine your very awarded success or added to your much financial demise.
So lets explore our options on this always hot topic together.
1. How To Know If Going Full Time Is For You
Extended Camping: When most people go camping in their RV’s it is usually for a weekend. How long have you camped in your rig with out pulling up stakes. I am talking staying put in one location for weeks or maybe even months at a time.
How well did you do with that day in and day out living in the rig going up and down bending over and getting under the rig to fix stuff. If you have survived and had a great experience with this trial then maybe it is for you.
Confined Spaces: No matter which type of camper you choose be it a TT or a RV the size of these can vary but they are still much smaller on the inside than your regular house. Some of these units have pull outs and some do not.
Have you been in or stayed in one with no pull outs at all. To some this may seem very claustrophic and can you handle these tight quarters for weeks at a time and not just a weekend.
The ones that have some sort of pull out will offer much more extended living space especially when parked for long periods of time. This one below is an RV with pull outs.
2. Is Your House Paid Off
Pat Yourself On The Back: If you have paid off your mortgage on your house that is a great accomplishment in your step to that goal of financial freedom. Most people take at least 30 years to do this. Now your one more step way to Full Time.
One Last Step To Financial Freedom:
Credit Cards: I know that you are showing pride that you finally paid of that house. But there is a Second most important item next to your mortgage, and that is Credit Card Debt.
Most people out there carry at least over $5,000 in credit card debt. That is on the medium range. But it is still a high number. If you don’t pay off your balance every month that interest can bring that total up to much more than $5,000.
In order to go full time it is best and recommended that you pay off this, or pay it down where you can manage it at a reasonable rate.
3. No Extra Funds To Purchase RV
Your Choice Is Made For You: If the money that you have tied up into your house mortgage is needed to purchase an RV well then your path that you need to take has already been decided for you.
4. Leaving A House Unoccupied
Short Term: The risk of having your house unoccupied depends on how long that you will be away. If you go out of town and button down the hatches for a week or so that’s not so bad. Make sure that even though you will be gone for a short that mail and lights are taken care of.
Long Term: If you have to leave your home unoccupied for longer than a few weeks while in your rig, you might want to plan on securing your house with security cameras, motion sensors and also put your lights inside and out on timers intermittenly.
My Experience: I myself have had to leave ours unoccupied for a time because we were working out of town. We did what I suggested above with the lights and such. We weren’t so far away that we couldn’t come back so we checked on it every other weekend. Replaced what needed to be replaced . It is always good to be good friends with at least one neighbor. In case something goes wrong.
House Insurance: Having insurance on your house is very important even if it may be paid off you still need it. If you leave it unoccupied for too long and the Insurance Co. gets wind of it you can loose your policy.
What I Did: What I did in my case was I had some one come and stay there for a week off and on. Or you can have someone that you trust with your place to stay until you come back on a permanent basis.
5. Renting Out Your House
Renting House: By renting out your house for 6 months to a year will give you an idea and the experience that you need on the road in that RV to see first hand how life really is and a little idea what to expect when and if you do decide to jump in and take that plunge.
Upkeep While Away: The upkeep while you are renting it depends on you. If you are not too far from your property while renting it you can take care of issues.
But if you are too far you can hire a management company to handle things for you.
6. Income Replacement
Jobs On The Road: Most on-the-road jobs pay far less than what you would earn at home.
Working Remotely From Your RV: As long as you have access to a computer, Internet & faxing services, a digital camera, and a cell phone — you should be able to make a living from your mobile RV office.
This is so doable especially if you have a special skill and market yourself out there.
7. Selling Your House
No Turning Back: Well this the last option that you might have. Or it might be the first one for you. I know we all hate to part with things that have become a part of our lives for so long.
We all have so many memories tied up inside our houses. The sights, sounds of our loved ones.
Just remember that if you Really are going to Sell that house, that once you put your John Hancock on that dotted line there is NO going back. So really do some soul searching. And if you are able to detach and live with this decision go for it.
My Thoughts On Selling Or Renting
No matter how you choose your path to the life of full timing in your rig, I hope that I have helped you in making what ever decision that you have made an easy one.
SEE YOU ON THE ROAD