temporary full time RV'r

[XJSuperman]

Just want some opinions as I'm kicking around an idea.



My wife divorced me last year and in the mix I was/am supposed to sell my truck to pay off some debts from the marriage.

I really did not want to get rid of it for many reasons and she and I came to an agreement if I can come up with $X I can keep it. She is in no way pushing me but I know that over time I will have to pay her even if it;s just a little here and there.



My dilema is that in spite of working 2 jobs that it will take me quite a while to come up with the necessary money to pay her off and even though she's being nice with it... I hate feeling like owe anyone (especially her).



I kept the house and I have our son about 65% of the time (shared custody) and she pays me child support.



I have no other debts except the house and I am financially 'content' (not 'happy') BUT again will take quite some time to pay her.



With all that said... what are some opinions of me selling my house (we had planned to move into a larger home/nicer neighborhood before she left me) and with the profits paying her off and buying a nice TT (maybe a 5vr) and setting up in a local camp ground living there until I can afford another home. My monthly bills would be cut by at least 50%... PLUS I would have paid her off with the profit from selling my house. It may be a couple years that I would have to live there.



All my belongings that would not be conducive to RV living would easily be stored and with my son only being 3 we don't need a ton of room right now... and one of the reasons for me buying the truck was to get a travel trailer at some point.



I just want some outside opinions on this ... especially from some part and full timers as to some of the pros and cons... especially since traveling would not be a big part of it for a while.

 

[TRAMPLINEMAN]

I've been living full time in my 5th wheel for 5 years with my family-wife and 4 year old son. In this time we've had 33 addresses and have seen alot of country. I wouldn't trade it for anything. If you plan on doing this, I would recommend a quality RV, not something too cheap. Most RVs are not designed for everyday living and things fall apart.

One con that I can think of is mail. For us, moving around so much it's hard to get mail. But if you plan on staying in one spot it shouldn't be a problem. Good luck which ever route you take. Mike

 

[Texas Diesel]

My wife and myself have been full timing it for the last 4 years.



Cons? None that we know of except we dont have any property taxes any more :-laf



Pros, how much time do you have?



As stated above, get a top quality RV. Ours has a heat pump, double pane windows ( a must have ) built in generator, excellent insulation etc etc.



We cant say enough good about the lifestyle, we can move at will. If the job dries up, well hook up the RV and away we go. Every thing we own has wheels on it except a storage shed (it was a big decision)



Just give it a chance, you will be hooked for life



PM me for my phone number and we can talk all you want.



It is like unplugging yourself from the Matrix.



Best decision we have ever made.



We have two RV's, the 36', 3 slide Holiday Rambler we live in and a 25' 5th wheel for weekends and vacations. My neighbor came over one day and asked how we could afford to be gone 4 weeks a year and every weekend. I said because of lower utility bills, lower insurance, no property tax, zero to very low outside maintenance (roofs-paint etc). He said well *MY* house appricates and your "trailer" depreciates. I said "true", but how much does he pay in property taxes, he said about $4k a year. (We pay $21. 43 for land taxes on the 14 acres) So I said that he pays $40k every ten years, assuming no increase, he turned red knowing where I was leading. Every ten years we can buy a one year old top of the line RV for what he pays in TAXES.



After that he never asked how we afford it, just where did we go and where are we going next weekend. :-laf



It's not for everyone but we are 100% happy with our choice.



Seriously, PM me for a phone number. We have made many mistakes and would be happy to share our experiences with you.

 

[RAMN4EVR]

Texas Diesel, nice truck. What size are you living in? My sister is full timing it, she's in a 32 ft Alpha. My wife & I are thinking of the same way, full time RV.

Thanks Gary

 

[Texas Diesel]

Gary, I edited my post with more info. If you want to talk, PM me for my number. Or I will answer any questions here, either way. Any way I can help, let me know.



The quality varies drastically between brands, be very careful.

 

[GWBourne]

ehh, on another side of the argument, she may back you fully then as soon as you do it file for full custody. living conditions. the state would not like it either. i think you would loose custody of your son all together then be paying her Child support. why not make a deal in writing to have her take money out of what she is paying you and get it in writing. i think i mentiond that already, but its for a reason... . ;-)



if it comes down to it sell the house and find one more suited for you and your son. you could easily drop your morgtage payment down that way as well as pocket some coin.



just another side of the situation... .

been divorced, didnt have kids. thats why she left me, i dont want kids and she thought she could change that.

hope all goes well, and good luck.

Grant

 

[Weatherly]

Should not be a problem. I do not have children, but do live in a trailer park with many children in mobile homes and RV's. Was staying in trailer during week and commuting home on weekend (100mi trip one way). Divorced three years ago and just stayed in trailer full time. Like Texas Diesel I have 37 foot toyhauler I live in and a 28 foot toyhauler for weekend. PM if you want any answers.



Bobby

 

[XJSuperman]

Thanks to everyone. This is a tough call to make and it will not be made lightly. GWBourne I have already considered these thoughts on the custody and 'living conditions' very heavily and that may end up being what my decision is ultimately based on. I honestly believe my ex would not care one way or the other... but I would for sure as I;d rather be poor and truckless but have my son be happy and healthy than try to make changes that will effect his life negatively.



Man... I sure wish someone would invent that darned money tree already!!

 

[JimBeck]

Stay in the house

From my perspective as a retired elementary school teacher with 2 kids now 21 and 23, I'd really recommend staying in the house. Your child will have his own dirt to dig in and a steadier neighborhood. Downgrade your transportation if need be,but keep the house. We are now spending 3 months+ a year in our trailer retired, but I wouldn't have wanted to raise the kids in a travel trailer. Jim Beck

 

[Buffalo]

Some parts of the country are seeing a drop in real estate values. If that's what's happening in your area, and your property value is at the highest it's going to be, for awhile, then this might be a good time to sell.

Remember, if your property has gone up in value, you may be liable for capital gains tax on the profit, if you sell.



The "Baby Boomer's" are at or close to retirement age & if your area is a "hot" area for retiree's, maybe it's value will still increase. In that case, maybe keeping it is the wise choice.



On the other hand, if your area is impacted by hurricanes, we are supposed to be going into quite a number of years of more than average numbers of hurricanes. Frankly, I'd be concerned about my "investment" being subjected to that much bad weather & potential damage. But, there are "tons" of people living in Fla. that are happy there.



If you decide to keep the house, could you possibly take out a second mortgage to pay off the ex-wife. Could you refinance your existing mortgage if your present interest rate is high, to lower the payments & use that savings to pay off the ex. on a monthly basis. Or a combination of these.



Also, check out the prices on some of these RV parks. I've heard some of them are expensive. When you take into consideration the cost of the RV, the depreciation of the RV, the rental on the space, maybe renting an apartment, for awhile, might be the better way to go.



Don't forget the interest write-off on your mortgage, also.



When I was a young man & bought my first house (3 bedroom) I rented out the other two bedrooms to my brother & a friend. That house was cheap living for the three of us. Maybe, you have a good friend that could use a room for awhile.



Hope this helps.



Joe F. (Buffalo)

 

[Fireman]

Know this, your house will retain it's value (as long as you maintain it), but an RV will not. No matter what, an RV will depreciate. So the equity from your house that you use to buy the RV will be lost.



If I were planning to do what you are talking about here's what I would do (for what that's worth). Buy a piece of property with no restrictions against RVs, put in a septic system, and buy a USED high end RV. This could be cheaper than lot rent and you could build a home there at a later date. Let someone else thake the bigest hit on the depreciation. I would strongly urge you to join the RV Consumers Group before you buy. It is expensive to join (around $100. ) but the information they send will help you select, inspect, and buy the RV you need and save you $$$. That $100. helped me save thou$and$ when I bought mine.



Regardless of what you decide to do, Good Luck. Been there, done that, lost my T-shirt :-laf Seriously, as bad as it may seem, if you put your mind to it you can get your life back on track in a short time.



In any case Good Luck,

Fireman

 

[dward]

Not sure what the real estate market is like there, but since you own the house take out a second mortgage and pay the wife off, rent the house out and try the RV lifestyle.

If you like it, you will be receiving a rental income every month as well as building equity and getting a tax write off. If you don't like it, give the renters a 30 day notice and you are back to square one with nothing lost.

Good Luck