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How Economical Are Motor Homes?

Thursday, February 23, 2017 22:56
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Motor homes call to those who love the open road, and who can’t stand paying for hotels. If you’ve been thinking about exploring the country indefinitely, then you may be wondering just how economical an RV is. Or maybe you just see it as a good way to scale back your lifestyle, and some of you may need to learn how to pass the AZ permit test. Or maybe you just want to add and RV to your list of vehicles in the garage. Whatever it is, keep these tips in mind to learn more.

Space and You

Moving from a house or an apartment into a motor home is going to be a drastic change, and one that may not be so welcome if you’re not used to hitting a wall practically everywhere you turn. Before you choose one way or the other, you should probably spend some time ensuring you’re confident that you can handle the downsizing when it comes to space. An RV will not be economical (no matter what) if you’re absolutely miserable while you’re inside it.

Home Insurance, Power, Sewage

If you’re using your RV as a home, then you’re likely going to have to get both driving and home insurance on it. Any valuables (e.g., jewelry, clothes, etc.) that are stored in your drawers and closets can bump up the amount of your premium. Plus, a lot of insurance companies are hesitant to take on people who use their RV as their permanent place of residence. There’s also the cost of running all your appliances, and finding places to hook up your sewer lines.

Spending the Night

If you love your RV and don’t mind staying in it for days on end, then it’s definitely a reasonable (and convenient) way to travel. However, if you’re doing it to save money, you may be on the wrong track. RV parks can cost up to $50 a night, which is close to standard hotel rates. Also, RV parks per month can cost up to $900, which can get you a decent apartment in most places of the US. You can certainly find cheaper rates of course, they just may not be as cheap as you want them to be.

The Cost of the RV

RVs can be pricey if you want a good one. If you can’t put down enough of a down payment on the motor home, you may end up paying more in interest than you ever wanted to. RV financing has changed recently, meaning that you can end up paying double what the RV would have originally cost you if you’d paid cash up front. Whatever you do, try not to get your loan to last longer than 5 years.

Fuel and Maintenance

Small RVs only get 15 miles to the gallon, and the numbers just go down from there. If you’re planning to put some serious miles on there, then you’ll have to factor in those fuel costs and all the stopping you’ll have to do. There’s a lot of components in an RV, including having to pay for a traffic ticket by taking online traffic school to dismiss a ticket. Seasonal tasks like winterizing and basic upkeep can add up over time. Tires, filters, oil changes and brakes all add up, and depending how many miles you put on there, can wear out faster than you think. A warranty may be able to help, making it worth the investment.

Only you can decide if an RV is worth it, but in the end, it doesn’t necessarily seem to be the way to go if you’re looking to save money.

The post How Economical Are Motor Homes? appeared first on 20s Money.


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