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Old 07-12-2007, 02:38 PM
 
Location: UNDECIDED
121 posts, read 329,195 times
Reputation: 48
Default Any one tried RV living to live their dream in SOCAL?

Me being the resourceful frugal guy. I continue to try to come up with ways to live out southern cali without paying hefty cost. Here's my new idea I came up with after 2 days. What if I bought an RV and an RV lot resort in SoCal? I could live a fabulous lifestyle without the high cost. I can get a storage facility for my cars and miscillaneous items. Use the lot as my home base and move around freely and fairly cheap. An RV can cost as little as $120,000. They have lots in malibu, san diego, etc,. I figure it sounds good in theory but, I'd like to hear what you might think. If you have tried it or know someone who is or has done it. What are the pros and cons I might not be thinking about since this idea is fairly new in my mind.

FYI: I am single, have no kids, no responsibilities, and no family ties to hold me down.
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Old 07-12-2007, 04:11 PM
 
Location: San Diego, CA
810 posts, read 2,683,786 times
Reputation: 348
There's a significant population in San Diego that does just that, at the parking lots at Harbor Island, Shelter Island, and Mission Beach, and the area's trying to do something about it since the lines of Winnebagos are a nuicance to many. Anyway, right or wrong as side, absolutely it is done in San Diego.
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Old 07-12-2007, 08:17 PM
 
Location: UNDECIDED
121 posts, read 329,195 times
Reputation: 48
Thanks.

I am wondering if I was to buy a home is it really going to be an investment for my future or will I just have a home that won't sell. At least with an RV I can swalllow the cost. I really am just trying to figure cost analysis here. Which ever helps in the long run. I want to live well below my means but, still enjoy my kind of lifestyle and RVing may give me the equivilant of cost of living in the south. At least that's what I'm guessing.

Last edited by GypsySunworshiper; 07-12-2007 at 08:31 PM..
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Old 07-12-2007, 09:02 PM
 
Location: Las Flores, Orange County, CA
26,362 posts, read 54,170,320 times
Reputation: 16312
Quote:
Originally Posted by formerlyhappenstance View Post
What are the pros and cons I might not be thinking about since this idea is fairly new in my mind.

Here's my new idea I came up with after 2 days.

FYI: I am single, have no kids, no responsibilities, and no family ties to hold me down.
If you increase your time thinking about this from two days to three days, an investment of only 50% time, you may arrive at different conclusions. But here are the Pros and Cons:

Pros: You are spending less than the average homeowner in San Diego.
Cons: You will stay single.
Cons: The guy in the park sleeping on the bench spent around $115,000 less than you did and he gets free meals at the mission.
Cons: An RV depreciates at about the same rate real estate appreciates.
Cons: RV loans do not have a mortgage interest deduction.
Cons: At $3.50/gallon, relocating from San Diego to Malibu is roughly the equivalent of one average mortgage payment.
Cons: When someone investigating you for a security clearance....
Pros: You don't have to worry about gophers.
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Old 07-12-2007, 10:34 PM
 
Location: UNDECIDED
121 posts, read 329,195 times
Reputation: 48
Quote:
Originally Posted by Charles View Post
If you increase your time thinking about this from two days to three days, an investment of only 50% time, you may arrive at different conclusions. But here are the Pros and Cons:

Pros: You are spending less than the average homeowner in San Diego.
Cons: You will stay single.
Cons: The guy in the park sleeping on the bench spent around $115,000 less than you did and he gets free meals at the mission.
Cons: An RV depreciates at about the same rate real estate appreciates.
Cons: RV loans do not have a mortgage interest deduction.
Cons: At $3.50/gallon, relocating from San Diego to Malibu is roughly the equivalent of one average mortgage payment.
Cons: When someone investigating you for a security clearance....
Pros: You don't have to worry about gophers.
LoL this is quite funny. It was just a thought, but, like you said my conclusion can change at anytime. Thanks for your contribution.
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Old 07-20-2007, 12:28 AM
 
Location: Mission Viejo, CA
41 posts, read 133,739 times
Reputation: 35
I know a lot of people that are doing it. We meet them in the rv parks as we are travelling. And you might be surprised to know that they are not all senior citizens, some are families and young couples saving up for their first home. Furthermore, an rv DOES qualify as a home so you do in fact get the tax deduction. Additionally, if you buy a used rv you can buy a nice one well under $75,000. By nice, I mean home theater system, newer model, king size or queen size bedroom, with 3 slides. You can finance an rv for 15 to 20 years. So your payment can come in under $500/month. Space rental may cost you $750 a month but keep in mind that includes your utilities, cable, and in some cases cable and high speed internet. Furthermore, you have no property taxes to pay. When we take our rv from just north of Malibu to San Diego and then back we have approximately a tank and a half of gas.

I commend you for your willingness to think outside of the box. If you aren't already "in" the market right now I would consider waiting a while longer because predictions are that it is still coming down. The bubble is just beginning to leak and an rv may be a good way to wait it out. Granted it won't appreciate, but by the looks of things a home isn't going to right now either and last time I checked rent isn't refunded with interest.

If you are serious about it, check out some of the online rv forums.
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Old 07-20-2007, 08:15 PM
 
Location: Some where on the pacific coast
185 posts, read 521,634 times
Reputation: 66
Default The answer is YES

My wife and I have been doing this for a year now. We have a 06 27' T.T. w/super slide I pull it with a 07 GMC 2500HD 6.0L eng. I get 11.5 mpg total wt. 16200 lb. We did remove the fold out futon couch and replace it with a very nice reclining love seat. It cost me about 43k for both. I retired last year and we are taking the time to visit the many places that we did not have time to earlier.
We also have met many people young and more seasoned alike that are waiting out the housing affordability mess.

Remember there is no shame in living with in your means I think you would be making a wise choice to wait this out.
Best of luck to you
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Old 07-21-2007, 11:45 PM
 
414 posts, read 1,104,569 times
Reputation: 155
There are quite a few RV magazines available too. The information they contain just might answer all your questions.
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Old 07-31-2007, 09:30 PM
 
Location: UNDECIDED
121 posts, read 329,195 times
Reputation: 48
Thank you all for your answers. I thought about rving after thinking to myself I don't know if I would want to buy a million dollar home in a desirable neighborhood that isn't even a mansion. I have a hard time justifying those kind of cost. Thanks again for the answers. I will continue to investigate the rv lifestyle.
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Old 08-04-2007, 04:28 PM
 
58 posts, read 178,856 times
Reputation: 76
I lived in my RV once for 2 years when my family was a bunch of very young kids. It was GREAT. We loved it. And we would go back to it in a heartbeat. Unfortunately, I am tied to a job in a place I DETEST as anyone who has read my rantings will know. Once this contract is up, I plan to go RVing for as long as I like - sell the house and all the trappings and head on down the highway. I will need to go RVing for at least a decade to make up for the krap I have had to endure here in the AV and the "loss of life" that I have experienced by being trapped up in this godforsaken sh*thole.

Word to the wise: Invest a sum of money each month in a well managed mutual fund if you are presently in the work force. That will help to make up for any real estate appreciation you may (or may not) have experienced at the end of the line when you get ready to buy a house. Chances are, this housing market is going to slowly deflate over the course of the next 2-5 years. It's not going to be pretty.
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