Beware of all the extra costs that come with RV life
When you buy a camper or RV, the cost of the camper isn’t your only big expense.
You also need to budget for insurance, storage, and – if you’re buying a travel trailer – a suitable vehicle to tow it.
(Side note: If you’re considering a travel trailer, be sure to do your homework on what towing capacity and payload your vehicle needs to safely tow your camper. We discovered that it’s not as straightforward as we thought and you may need a more heavy-duty vehicle than you anticipated!)
And don’t forget about all the gadgets and accessories you’ll need to make your camping trips safe and enjoyable: Tools for handling repairs on the road, sewer hoses (ew, I know), extra batteries and propane tanks, cooking gear, bedding, and the like.
Consider the tradeoffs of buying new or used
New campers and RVs are more expensive, but they’re typically covered under a warranty, and you may get better help from a dealer or manufacturer if something isn’t working right.
In fact, we went on a camping trip a few years ago with a friend who had just purchased a brand new – and very expensive – RV. The first night on our trip, there was a wiring malfunction that triggered an alarm to sporadically beep, ALL NIGHT LONG. It wasn’t the most restful weekend for us, but the good news is that our friend was able to bring his RV into the dealer and they fixed the problem at no extra cost.
On the other hand, buying a used camper can be a great way to score a great deal, even when the market is hot. The tradeoff here is that it may need repairs, some of which aren’t immediately obvious, especially if you’re buying it from a private seller.
We have some friends, for example, who bought a used RV that they got for a great price. But once they got it home, they discovered hidden water damage from a leaky roof. Unfortunately, they spent most of their summer repairing the RV, instead of driving it to scenic state parks like they had planned.
But buying used can still be a great option for people who have good DIY skills and are willing to spend time doing repair work.
Be honest, how much will you actually use your RV?
Everyone buys a camper or RV with the intention of using it. But the reality is that life often gets in the way, and many people who invest in an RV end up letting it sit idle.
So, before you take the plunge into a big purchase like this, take a step back to ask yourself some questions about whether an RV fits into your lifestyle.
Here’s the key: Be honest with yourself. Don’t just think about what you wish your lifestyle will be like – consider what it’s actually like.
Here are some of the questions we considered:
- Location and climate: Based on your location, how many months out of the year do you think you’d be using a camper? (I live in Minnesota, which means there are only 4-5 months out of the year when the weather is RV-friendly!)
- Destinations and frequency of travel: What destinations do you want to with your RV? And how often would you go on these trips? Does your work schedule allow for the kinds of trips you want to take?
- Friends and family: Do your friends and family like to camp or travel by RV too, and would they join you on some of your trips? If not, would you be OK missing out on spending time with them?
- The kid factor: Do you have kids who are in sports or activities that would cut into your camping time? What age are your kids? Are they at an age when they'll enjoy family RV trips?
- Other responsibilities: What other obligations do you have during prime RV season? If you own a house, do you usually do yard work, house repairs or run errands on the weekends, and if so, would those tasks become overwhelming to you if you weren’t around?
It’s a lot to consider!
As for us, after weighing all the pros and cons, we decided to go for it. We bought ourselves a 24-foot travel travel trailer and hope to have many adventures with it in the years to come.
Ready to start making plans for a big purchase like an RV? Learn how to set and track financial goals.