When many seniors retire, they are ready to get out on the road and see all the places that they have always wanted to see. With this being said, many seniors consider the best plan of approach to be buying or renting an RV. Most seniors before to buy since they may be calling this RV home for the rest of their lives. It is not uncommon for seniors to put their home on the market to sell and simply live out of their RV. However, before making any hasty decision on which RV to buy, there are several considerations that need to be made.
Are you going to live in this full time?
If the answer to this is yes, then more than likely you are going to want to get an RV that can accommodate you and your spouse for lengthy periods of times. Being crammed into a small RV for several hours a day can be stressful and lead the person to wonder why they ever thought this was a good idea.
What is your budget?
There are numerous price targets when it comes to RV’s, and a person will find that they can find one that fits just about any budget that is out there. Along with how much you can afford to spend on the RV with your retirement, also consider how much you will have to pay in gas to fuel this RV and the like.
With these two considerations made, the following are bits of information that may help you to make the decision as to which RV to buy and what to expect when turning to a life of traveling via RV.
- Most RV’s average out per year when looking at the amount of gas a person uses. The reason for this is that people stop at places and may spend upwards of a few months in the same location. Thus, if gas is something you have worried about, you may want to reconsider this.
- RV’s can be financed just as you would a home. In fact, most RV’s can be purchased with a 20 year loan that is similar in interest rates to a home. The reason for this is that the RV is considered to be a home. Luckily, most seniors who decide to take off in an RV are able to buy their RV due to selling their home.
- RV’s do not cost much when it comes to the insurance that must be kept on these. In fact, studies have shown that most people pay more for their automobile insurance. The reason for this is that RV’s are not involved in as many accidents as a single automobile.
Here is a chart which shows the different classes of Recreational Vehicles on the market, their characteristics, average prices and more:
| Type Of RV | How Many Can Sleep Inside? | Length Range | Price Range | Example Brands |
|---|---|---|---|---|
| Class A Motorhomes | Up to 6 | 30 to 45 Feet | $90,000 to $1,000,000 | Allegro, American Eagle, Bounder Diesel, Custom Coach, Dutch Star, Fleetwood, Holiday Rambler, Monaco, Prevost, Winnebago |
| Class B | Up to 4 | 20 to 30 Feet | $85,000 to $185,000 | Airstream, Gulf Coast, Legend, Prestige, Titan, Weekender |
| Class C | Up to 8 | 30 to 34 Feet | $81,000 to $250,000 | Chateau, Coachmen, Forest River, Four Winds, Haulmark, Itasca, Lazy Daze, Road Warrior, Titan |
| Tow Behind Travel Trailer | Up to 10 | 18 to 27 Feet | $18,000 to $65,000 | Aerolite, Back Country, Brookside, Canyon Trail, Coachmen, Desert Fox, Energy, Forest River, Fuzion, MXT, Outback, Prowler, Sandpiper, Shockwave, Trail Runner, Warrior |
| 5th Wheel Trailer | Up to 6 | 18 to 40 Feet | $26,000 to $120,000 | Alpine, Bighorn, Cedar Creek, DynaAire, Enduramax, Full Throttle, Infinity, Laredo, Royal, Salem, Titan, Vizion |
Are you ready to hit the road? If so, and you are shopping around for the perfect recreational vehicle be sure that you are not rushing into a decision. You are going to want to make sure that you purchase the RV that is going to benefit your unique situation and be something in which you are happy with for years to come.