Full time RV living: is selling your house a smart move?
One key issue that many full time RVers grapple with is what to do with their house.
As is the case with many things in life, there isn’t a single answer that applies to everyone. Selling your house has both financial and emotional repercussions that need to be considered before you take action.
So, let’s look at some of these.
Pros: selling your house
Freeing yourself of the responsibility of home ownership is one of the top reasons full time RVers decide to put their house for sale. After all, when you’re away, there’s the continual worry about home maintenance and security.
For instance, what happens if a pipe bursts while you’re on the road? How much damage will it cause by the time you return home weeks or months later?
Sure, you can have a neighbor, friend or family member periodically check on your home. But, that still may not be enough to prevent a catastrophe while you’re traveling in your RV.
You could rent out your home, too. But, then there’s the nagging concerns connected with being an absentee landlord.
The biggest positive of selling your house for most full time RVers is the financial aspect. The proceeds of the sale provide a cash flow cushion that can be quite comforting as a full time RVer. If you have any debts, you can use a portion of the proceeds to pay them off. And, you automatically trim your expenses by avoiding property taxes, home insurance, utility bills (electric, gas, water, trash), cable/satellite TV bills, yard maintenance fees and other expenses associated with home ownership.
Cons: selling your house
While we’ve certainly seen big fluctuations in housing prices over the past two decades, your house can be an excellent, long-term investment that increases in value over the years. And, if you’ve paid off the mortgage, your home-related expenses are pretty much limited to the ones mentioned above.
Perhaps you know a house-sitter you can trust to live in your home while you’re away to avoid some of the security and maintenance issues. It’s even better if that person agrees to pay rent for the privilege of staying in your home.
What if you’re unsure about full time RV living? In these situations, it’s nice to have your home, sweet home as a fallback option in case this lifestyle doesn’t work out for you. Having your home as safety net will give you more peace of mind.
And it’s stressful and time consuming to sell a home, downsize your possessions, and move on. Ask yourself if you really want to go through that right now.
Do you have full time RV insurance?
Full time RV living brings with it full time RV insurance needs, whether you own your home or not. Are you properly protected?
If you’re not sure, contact us about a full time RV insurance policy. It’s a convenient way to cover your needs with a single policy. And it can include many optional coverages for additional protection, along with high liability limits.
Talk to one of the licensed agents at Explorer RV insurance today by calling 1-888-774-6778.