As you’re likely aware, new car prices are sky high, and the used car market is going wild. But in non-automotive news, the housing market is also ridiculous with shortages of homes. Right now, the average home costs $408,000, but most sellers won’t consider an offer that’s less than 20% above the asking price. So rather than spend a life’s savings on a home and pay of a mortgage until you die, buy an RV and a plot of land to save some money.
How much would it cost to buy an RV and some land?
Let’s start with the RV, which can range from a couple grand to hundreds of thousands of dollars. That depends on just how many amenities you want. But to live in an RV, you’ll likely want a self-contained toilet and shower, a kitchen with burners and a fridge, and a bed (or bedroom). An RV of that caliber will likely run you $15,000 on the budget side, and $50,000 on the pricier side. Though there are plenty of small RVs with a shower and toilet.
Then there’s the land, which is surprisingly easy to find. Websites like LandFlip have thousands of listings across the country, from massive plots to build houses on, to one-acre spots for parking your RV. That’s all you’ll really need to park your RV, which will run you just $6,000. And some of the plots for sale are remarkably beautiful.
For most of these properties, you’ll have to build an RV hookup station, which would include electricity, water, and sewage. This is where things get tricky, especially if you’re building in the middle of nowhere because you might not have access to utilities. In a best-case scenario, where utilities are nearby, it’ll likely cost you $10,000 to $30,000 to hook up. If they’re far, or nonexistent, then the dream life of living on the land might stay a dream.
But even if you splurge a bit on a Class A RV and a nice plot of land, you won’t even come close to the cost of an average house. With a $100,000 RV, a $50,000 plot of land, and $50,000 utilities (rough estimates), the running total is half the national average of a new home. Though, if you’re a real big spender, there are RVs that cost more than a house.
The most expensive RVs are slightly more expensive than the average house
What do you get when you combine an RV with a semi-truck? You get a motorhome so luxurious it costs more than a house. These Renegade semi-truck RVs can cost upwards of $500,000, but you’ll be purchasing the best of the best. For starters, it comes with a full bathroom with a shower and toilet, a roomy kitchen, and options for either a queen-sized bed or two bunk beds, so the whole family can join.
On top of that, the RV is fully furnished with a cool, leather couch and a flatscreen TV. Though these semi-truck RVs aren’t just built for high-class living, but for towing, capable of hauling most 30,000 lb Class A RVs behind them. Or, if you’re a multimillionaire, you can purchase a $7.7 million motorhome, which you can stuff a Bugatti inside.
But chances are, a reasonably priced Class C RV will do the job, providing you ample living space for your renegade life. Though, there are other expenses you’ll have to consider even after building your dream home away from home.
Other expenses to consider when living in an motorhome
Obviously, buying the RV and the land aren’t the only two expenses you’ll pay. After building those utilities, you’ll have to pay for them monthly. That all depends on your location, but the electric bill in the middle of nowhere might be a bit pricier than in a more developed area. On top of that, you’ll have to pay annual property taxes. Though, for a small slice of land, this can often be under $100.
But if you’re going to live in your RV, you’ll have to budget for maintenance. From gas to tires, your expenses don’t end even if you’re sitting in park. With all these other expenses, you’ll want to be ready to spend a couple thousand dollars each month to ensure you can pay all these extra expenses (this includes food as well).
So the initial cost of RV living is certainly lower than buying a house, and you’ll save money by not having to stay at expensive RV parks every night. After all, the average cost of an RV park is around $30 a day. So if you stay at RV parks for 200 days out of the year, that’s $6,000, which is around how much a decent plot of land is. It’d take a lot of work and preparation, but if you could make this full-time nomadic lifestyle work, you’re free to travel the country whenever you please, and always have a slice of land to call home.