Becoming the owner of a recreational vehicle can be very tempting, as you might finally be able to go visit the places you’ve always dreamed of seeing. Unfortunately, purchasing an RV is a serious investment and you need to make sure that you consider all of the expenses before you decide to take this step.
In this article, we will debate whether renting or owning a motorhome could be a solution for you.
What are the purchase costs?
Shopping for an RV is no easy task, and the variety of models available out there can make it difficult for you to choose the perfect one for your specific needs. However, you might want to consider getting a used slide-in camper if it’s great condition, in which case you’d have to take $3,500 out of your account.
A brand new motorhome could be as expensive as $36,000, and that’s an expense that many people might not be able to afford. The average costs about fifteen thousand, though.
You can expect to pay some money on maintenance at least once in a while. The tires will set you back about twenty-five hundred, replacing the carpets about seventeen hundred, and getting a new toilet could cost you approximately two hundred, depending on the model. If you also want to be able to benefit from a little entertainment, you’ll have to purchase not just a TV, but also an RV TV antenna, on which you’ll spend about $80.
Any hidden expenses?
Renting a parking spot for your RV can set you back as much as $2,500 per year. Did you know that? Probably not.
The more you use your motorhome, the more worn out it will become, which is why you might not be able to sell it for a decent price in the upcoming years. On top of that, if you travel a lot and move from one state to the next, we have to remind you that the costs of electricity vary largely from one area to the other. They can even make a difference in 100s of dollars.
What else will you spend your precious pennies on? Well, if you keep your motorhome on your personal properly, you’ll have to pay for water, electric, and sewer. If you live in a campground, you will fortunately have to pay only for the electricity, because most normal campsite costs cover both sewer and water.
Finally, if you intend to live in an RV park for a limited amount of time, you might not pay anything at all on basic utilities. The costs can range from fifty to three hundred and more, but it all depends on the location, your kind of lifestyle, the size of the motorhome, as well as its amenities.
What about selling your RV?
You’re in for a nasty surprise if you’ve invested your hard-earned money in a motorhome and want to sell it after just five years of using it. Approximately 60% of its value will be lost by that point. So, if you get a brand trailer for $20,000, you’ll only going to be able to sell it for about $12,000 to $13,000.