House versus an RV? What do you think?

Sweet13_Princess

I know this isn't exactly fitness related, but I could use feedback from a few people to get an unbiased perspective on things. Here goes!

My fiance wants a second house closer to his job, but I think it's too hard to maintain two properties. Not to mention, owing that much money and having that much money invested freaks me out. I suggested parking on RV in an RV park, since they're like mini-houses. What do you think? Bizarre? Practical? A horrible investment? The one we like is $11,000.

Shannon

twooliver

Sounds like a creative solution to me!

iamhealingmyself

I believe an RV will depreciate like an automobile where a house will appreciate over time. Make a list to consider the pros and cons of investing in both ideas. This way you get a visual that you might not be able to see with emotions involved in the thought process.

HannaSavannah

Make it fitness related! You can drive you RV to a campground chalkfull of hiking trails!

knothead76

Not only is it a creative idea, it is also very practical. An RV is very much like a "mini-home", especially when only 1 person is living in it. Not only would you have a lower cost, but you do not have to pay electric, water, garbage, etc. Plus most RV parks have pools or other activities that he can keep himself busy with as well. Just a little more food for thought.

ajbeans

My parents don't even have a house. They have an RV in my sister's driveway and one in a park in North Carolina. That way they can have a home wherever they spend their time, and they spend half the year at each place. They love it. For one or two people, they're really not too bad to live in, and they're making them really nice now. A lot of them have as much space as a small apartment, without the inconvenience of having people living above you and sharing your walls. And rent on the spaces is usually pretty reasonable -- KOA campgrounds can be expensive, but they're still cheaper than rent on a whole house.

erickirb

I think the RV would be a good solution if house prices were high like they were a few years ago, but after the bubble burst you can get a house for a good price and more than likely it will increase in value (investment) whereas and RV will either remain the same or decrease in value. If you can afford to I would go with the house, if too expensive then your solution is a good one.

Sheila_KI

I would go with the RV. Unless you would consider a condo or some place that doesn't have a yard to maintain. For me it is hard enough to maintain a house and one yard, much less trying to do a second. Though you could always hire a service.

Sweet13_Princess

You guys had some good ideas to consider. We found a campground five minutes from where he works, but we thought the price was kind of high: $2,700 for a year round space. Water and sewer hookups included. Electric is metered. Free Wi-Fi. Does the price seem outrageous to you?

Shannon

ajbeans

Well, think about it: $2700 rounds out to just over $200 per month. Can you get a mortgage for that rate?

Sweet13_Princess

UPDATE:

Dan, my fiance, and I met with the RV dealer today and we didn't even have th chance to make an offer because he suggested modifying the car so that it can pull it.

A little disapointed that the RV thing doesn't seem to be working out. My car would need all sorts of modifications to pull the durn thing (brake control, class III hitch, weight distribution hitch, sway control, and towing package), which costs even more money to put out.*sigh* It doesn't seem worth it.

Shannon

Sweet13_Princess

I found out definitively today that my vehicle doesn't have the capacity to pull an RV. Dan and I are pretty disappointed, since there was one we really liked. I guess it's something to consider a few years down the road when we need a new car.

Shannon

BullDozier

I think the RV would be a good solution if house prices were high like they were a few years ago, but after the bubble burst you can get a house for a good price and more than likely it will increase in value (investment) whereas and RV will either remain the same or decrease in value. If you can afford to I would go with the house, if too expensive then your solution is a good one.

I'm no expert, but residential real estate as an investment isn't the rock solid idea it used to be. No one can predict the future, but I've read a lot that says the housing market recovery is going to be slow (once it ever gets going) and we won't see the 10%+ annual appreciation like we did prior to the burst for a long time. If you're looking at 5% appreciation on your investment, you have to consider the cost of the investment (the interest you're paying on the loan) to see if you're actually getting any return on the investment.

Especially in this market, I would definitely recomend purchasing a house for your primary residence. I'm not sure, as an investment vehicle, a second home is as wise.

Again, no expert.

ajbeans

I found out definitively today that my vehicle doesn't have the capacity to pull an RV. Dan and I are pretty disappointed, since there was one we really liked. I guess it's something to consider a few years down the road when we need a new car.

Shannon

If he's just going to leave it in the park, why do you need towing capabilities? You could ask a friend with a truck, or hire a truck for a day, to take it to the park, and leave it there. If you're not planning on moving it around, there's no need to do all that to your car.