DH and I have been married just over 20 years. We are coming out of a bankruptcy early 2017. At that point, everything we have will be paid for free and clear. Including the house we've been living in our entire marriage, and he has had for 30+ years. We have a small TT that we've had for about 5 years now that we are at every other weekend and any other chance we get as it is parked as an annual member at a nearby campground. We are tossing around the idea of selling the house and upgrading the trailer (was our first ever so it was kinda a learning curve anyway to figure out what we wanted and didn't). If it is YAY the plan is to sell our house. Trade in my car on a truck (which is happening anyway, we can't get in and out of our small car like we used to lol) upgrade our trailer to a larger one with NO bunks lol and more storage. We have no real intentions of traveling the country, but we want the option of being able to travel should we want to. Plus I will still be driving back and forth to work as I will still be working full time (only an hour away from work)
Here are my current holdbacks for the possible NAY
1. If something happens to DH, I have a trailer.. No house.. But you know, at the same time that'd be cheaper on me yeah? No rent/upkeep/maintenance like on a house.
2. Are we too old/young/middle of the road to do this? I am 40, he is 64
3. Any other things I haven't yet thought of.
Just looking for anyone that may can offer some input on what they think. I know what I want to do, but am just scared I guess.
Thanks for any input.
Torn_In_TN said
10:45 AM Nov 14, 2015
We filed 13, keeping everything we had and paying back 100% all debt. Came about following the death of our daughter.
Terry and Jo said
11:26 AM Nov 14, 2015
With regard to a new (or newer) trailer, I would recommend a fifth wheel trailer. When you do get to travel with it, a fifth wheel is more stable than a travel trailer. It also sits higher, so will be less likely to drag at the rear on uneven driveways and campgrounds. (I learned that the hard way with a 26-foot travel trailer, only I got the rear steps.) Since I don't know what the temperatures are normally in your part of Tennessee, if it gets pretty cold, you also want to look at the insulation "R" values.
We've lived in a Mobile Suites now for 4 1/2 years and have been comfortable in temperatures between 115 degrees down to -6 degrees. We do supplement our furnaces with electric heaters and the electric fireplace and oscillating fans in the summer. Our Mobile Suites has 3 1/4" walls and extra insulation.
Whatever you do, choose the RV first before buying a truck. Your truck choice is best made last because once you know what RV you want and its GVWR (Gross Vehicular Weight Rating) so that you choose a truck that is heavy enough to handle the size of trailer you have. I say "handle" because a trailer can be towed by a smaller truck, but =one needs a truck that is also heavy enough to handle the trailer safely in crosswinds and emergency braking.
Also, look at the frame, suspension, axles, wheels and tires of the trailers you are interested in. Those components are the very foundation of the RV. For full-time living, I'd not get anything less than a 12" frame.
Good luck in your research and planning. You can also use the "Search" function of the forums to find the answers to some of your questions.
Terry
Torn_In_TN said
11:48 AM Nov 14, 2015
Thank you for that information. I would love for us to be able to get a fifth wheel, but due to my husbands physical limitations it isn't possible. Those things are awesome too lol (dag-nabbit)
Am in the searching and browsing now. Thank you again for being so kind & helpful.
Trikester said
06:58 PM Nov 14, 2015
Pay special attention to Terry's suggestion you decide on the trailer first. Then buy a truck as big or, better, even bigger than the numbers suggest you need.
Second Chance said
09:49 PM Nov 14, 2015
To reinforce a point and make another...
Take special note of what Terry said about construction and R-values. Pulaski being in south-central Tennessee, winters shouldn't be too bad, but not all trailers are created equal. There's a huge difference between an inexpensive, entry-level trailer and something like a Nash or Actic Fox (some of the heavier, better insulated pull-behind trailers).
You said, "No house.. But you know, at the same time that'd be cheaper on me yeah? No rent/upkeep/maintenance like on a house." Not necessarily. You will have rent on your RV space (unless you buy a lot) which can run anywhere from $300 or $400 a month up to $900 or more. Many places meter and charge separately for electricity when you're renting on a monthly basis. You will also have propane expenses for cooking and heating. You'll probably be giving up a washer and dryer to live in a trailer, so travel to and from a laundromat with plenty of quarters will be part of the lifestyle. Maintenance and repair are a constant part of our lives - whether we live in a house or an RV - and RV appliances tend to be slightly less reliable than their "stix and brix" counterparts. You will need to budget for regular maintenance and repair... even with the best of RVs.
Rob
BiggarView said
07:21 AM Nov 15, 2015
There's a lot of moving parts to making the decision or not, that is for sure. Coming out of a Chapter 13 and all other debts free and clear is, if nothing else, giving you a steady stepping off point. It is highly recommended being debt free for this lifestyle, so says conventional wisdom by many on here and elsewhere. We are working toward being debt free also by our projected starting date in 2019.
One of the biggest things beyond the emotional battle you are waging on the YAY or NAY is determining the kind of lifestyle you envision and how you will pay for it. I recommend working out a thorough budget. There are several "sample" RVing budgets out there for a variety of income levels that you can easily adapt to your particular situation. You also need to extrapolate future earnings estimates, pensions, annuities etc so you can accurately determine how well funded you are and how long those funds will last. Don't forget to factor your budget expenditures to increase by 3% a year as a rough guide.
Being as you are 40 and hubby 64, he will be on Medicare by 2017 (if he isn't already -you mentioned physical limitations ...already on Medicare disability?) but you will need some form of ACA coverage (or similar) for yourself after you stop working in a couple of years if that is your plan. That will be a major budget expense.
One should also consider having a well funded emergency fund for those major "uh ohs" that inevitably come along. Adding to that fund regularly should be a top budget priority. With a steady income you could get away with as little as 3 months worth of expenses in such a fund, a more variable income situation means you should have more, say up to 6 months expenses saved up. This fund is not to be touched, except for the aforementioned "emergencies". Along the same line of thinking, establishing a separate fund for major repairs to your "home on wheels" (including the tow vehicle) is a good idea, though you could simple include it you emergency fund.
I've only scratched the surface, but knowing your cash flow situation and understanding the all the financial "what ifs" will clear up at least the economic concerns about the viability of the YAY or NAY decision.
FWIW, Brian
-- Edited by biggaRView on Sunday 15th of November 2015 07:22:11 AM
Torn_But_Not_Ripped said
12:30 PM Nov 24, 2015
Thanks for that information. See, it is "little things" like the laundry I hadn't even thought of lol Fortunately I have figured in the expense of the campsite. But hadn't considered figuring in inflation. My plan is to be able to work until I am 65 as well, but we all know how that can go too.
Reading other's posts about their experiences is very helpful. Maybe after reading everything I will not even have any questions left :) lol
PIEERE said
01:17 PM Nov 24, 2015
Decisions decisions! Search; research and research and search again! Make a list of the Pros and Cons! Check out Bill and Lindas blog? Laundry; you learn how to make clean clothes last longer! I even hear there are portable non-electric washing machines for those emergencies between running to the laundry which can be done when you grocery shop!
it's only going to work if you make it happen!!! How badly do you want the RV lifestyle??? Don't forget about the winterizing tricks; even in TN. it gets cold enough to freeze up. This will be my third winter here; but also done it 15 miles South of D.C. in Maryland for 3-4 winters.
Best of luck; the worst part is the electric or propane bill to stay warm then the AC to cool!
Ok, so here we go...
DH and I have been married just over 20 years. We are coming out of a bankruptcy early 2017. At that point, everything we have will be paid for free and clear. Including the house we've been living in our entire marriage, and he has had for 30+ years. We have a small TT that we've had for about 5 years now that we are at every other weekend and any other chance we get as it is parked as an annual member at a nearby campground. We are tossing around the idea of selling the house and upgrading the trailer (was our first ever so it was kinda a learning curve anyway to figure out what we wanted and didn't). If it is YAY the plan is to sell our house. Trade in my car on a truck (which is happening anyway, we can't get in and out of our small car like we used to lol) upgrade our trailer to a larger one with NO bunks lol and more storage. We have no real intentions of traveling the country, but we want the option of being able to travel should we want to. Plus I will still be driving back and forth to work as I will still be working full time (only an hour away from work)
Here are my current holdbacks for the possible NAY
1. If something happens to DH, I have a trailer.. No house.. But you know, at the same time that'd be cheaper on me yeah? No rent/upkeep/maintenance like on a house.
2. Are we too old/young/middle of the road to do this? I am 40, he is 64
3. Any other things I haven't yet thought of.
Just looking for anyone that may can offer some input on what they think. I know what I want to do, but am just scared I guess.
Thanks for any input.
With regard to a new (or newer) trailer, I would recommend a fifth wheel trailer. When you do get to travel with it, a fifth wheel is more stable than a travel trailer. It also sits higher, so will be less likely to drag at the rear on uneven driveways and campgrounds. (I learned that the hard way with a 26-foot travel trailer, only I got the rear steps.) Since I don't know what the temperatures are normally in your part of Tennessee, if it gets pretty cold, you also want to look at the insulation "R" values.
We've lived in a Mobile Suites now for 4 1/2 years and have been comfortable in temperatures between 115 degrees down to -6 degrees. We do supplement our furnaces with electric heaters and the electric fireplace and oscillating fans in the summer. Our Mobile Suites has 3 1/4" walls and extra insulation.
Whatever you do, choose the RV first before buying a truck. Your truck choice is best made last because once you know what RV you want and its GVWR (Gross Vehicular Weight Rating) so that you choose a truck that is heavy enough to handle the size of trailer you have. I say "handle" because a trailer can be towed by a smaller truck, but =one needs a truck that is also heavy enough to handle the trailer safely in crosswinds and emergency braking.
Also, look at the frame, suspension, axles, wheels and tires of the trailers you are interested in. Those components are the very foundation of the RV. For full-time living, I'd not get anything less than a 12" frame.
Good luck in your research and planning. You can also use the "Search" function of the forums to find the answers to some of your questions.
Terry
Thank you for that information. I would love for us to be able to get a fifth wheel, but due to my husbands physical limitations it isn't possible. Those things are awesome too lol (dag-nabbit)
Am in the searching and browsing now. Thank you again for being so kind & helpful.
Take special note of what Terry said about construction and R-values. Pulaski being in south-central Tennessee, winters shouldn't be too bad, but not all trailers are created equal. There's a huge difference between an inexpensive, entry-level trailer and something like a Nash or Actic Fox (some of the heavier, better insulated pull-behind trailers).
You said, "No house.. But you know, at the same time that'd be cheaper on me yeah? No rent/upkeep/maintenance like on a house." Not necessarily. You will have rent on your RV space (unless you buy a lot) which can run anywhere from $300 or $400 a month up to $900 or more. Many places meter and charge separately for electricity when you're renting on a monthly basis. You will also have propane expenses for cooking and heating. You'll probably be giving up a washer and dryer to live in a trailer, so travel to and from a laundromat with plenty of quarters will be part of the lifestyle. Maintenance and repair are a constant part of our lives - whether we live in a house or an RV - and RV appliances tend to be slightly less reliable than their "stix and brix" counterparts. You will need to budget for regular maintenance and repair... even with the best of RVs.
Rob
There's a lot of moving parts to making the decision or not, that is for sure. Coming out of a Chapter 13 and all other debts free and clear is, if nothing else, giving you a steady stepping off point. It is highly recommended being debt free for this lifestyle, so says conventional wisdom by many on here and elsewhere. We are working toward being debt free also by our projected starting date in 2019.
One of the biggest things beyond the emotional battle you are waging on the YAY or NAY is determining the kind of lifestyle you envision and how you will pay for it. I recommend working out a thorough budget. There are several "sample" RVing budgets out there for a variety of income levels that you can easily adapt to your particular situation. You also need to extrapolate future earnings estimates, pensions, annuities etc so you can accurately determine how well funded you are and how long those funds will last. Don't forget to factor your budget expenditures to increase by 3% a year as a rough guide.
Being as you are 40 and hubby 64, he will be on Medicare by 2017 (if he isn't already -you mentioned physical limitations ...already on Medicare disability?) but you will need some form of ACA coverage (or similar) for yourself after you stop working in a couple of years if that is your plan. That will be a major budget expense.
One should also consider having a well funded emergency fund for those major "uh ohs" that inevitably come along. Adding to that fund regularly should be a top budget priority. With a steady income you could get away with as little as 3 months worth of expenses in such a fund, a more variable income situation means you should have more, say up to 6 months expenses saved up. This fund is not to be touched, except for the aforementioned "emergencies". Along the same line of thinking, establishing a separate fund for major repairs to your "home on wheels" (including the tow vehicle) is a good idea, though you could simple include it you emergency fund.
I've only scratched the surface, but knowing your cash flow situation and understanding the all the financial "what ifs" will clear up at least the economic concerns about the viability of the YAY or NAY decision.
FWIW, Brian
-- Edited by biggaRView on Sunday 15th of November 2015 07:22:11 AM
Reading other's posts about their experiences is very helpful. Maybe after reading everything I will not even have any questions left :) lol
it's only going to work if you make it happen!!! How badly do you want the RV lifestyle??? Don't forget about the winterizing tricks; even in TN. it gets cold enough to freeze up. This will be my third winter here; but also done it 15 miles South of D.C. in Maryland for 3-4 winters.
Best of luck; the worst part is the electric or propane bill to stay warm then the AC to cool!