RVing as a Senior: What to Know and How to Start

Seniors Using Their RV

Did you know that 60% of people say that they are the happiest when they’re on vacation? Oftentimes that feeling of happiness is associated with both the need to have and the potential access to adventure. Vacations give people the feeling that they have the freedom to do what they want regardless of time of day and this is where the popularity around Rving comes in. 

Did you know that there are anywhere between 500,000 and 1 million people that ultimately decide to live in their RVs full-time? This doesn’t necessarily mean that this entire group of people plans to become stationary, it could also just mean they plan to live full-time in their RV while they travel the country. 

It’s not hard to see why, considering that RV trips give you endless opportunities to try new things without having to stray too far from home because it’s always with you.  Many seniors want to look into RVs when it comes to retirement, or simply as a way to reclaim opportunities to explore. If you’ve been entertaining the idea of RVing full-time, even if it’s just for an extended trip there are a few things that could help you along the way to getting prepared. 

The following guide breaks down everything you need to know about retiring with an RV as your primary residence, including what it means from a tax standpoint, the pros and cons of RVing full time, overall costs to expect and more. So, keep reading for everything you need to know to get yourself either on the road or stationary in your new rig.

What Do You Need to Make an RV a Primary Residence?

Most people have a dream of living in an RV full-time, but many people also think that dream is out of reach and not everyone knows what they need to do to make it a reality. In fact, if you decide to make your RV your full-time home, claiming it as such isn’t that hard. You do have to realize that you can technically only call one residence your primary home at one given time.

With that, if you are financing your RV, all you have to do is notify your lender of your plans so that they can be properly added to your paperwork. You may be wondering how marking “primary residence” affects your chances of getting financial help with purchasing a new RV. In truth, many lending services don’t care one way or the other as long as your credit score is in good standing.

If you decide that you’d rather use your RV as your second residence, for tax purposes you would only need to live in it for 2 weeks out of the year. Some seniors living in Florida may even have the idea to use it as a rental property but keep in mind that your secondary residence and rental property are two separate things. 

As a helpful tip in the case, you want to travel for an extended trip and then rent out your RV when you aren’t using it, over 35 million people look to rent out an RV every single year. This means that you could have more opportunities than just traveling or changing your primary or secondary residence. Overall, to make your RV your primary home whether you plan to be on the move or stationary, you just need to claim it as such on your tax documents to get started.

The Advantages of RVing Full Time

RVers enjoy a lifestyle that’s full of adventure and discovery. You can go wherever you want and stop whenever you need, and you can do it all on a budget if you like. The cost is something that deters potential RVers from doing it in the first place, but the cost for RVing is never the same for everyone. 

We will talk more on cost later, but be aware that how you decide to RV should reflect what you prefer to do and what you can do within your means. Overall, the main advantages are;

  • RV travel is generally cheaper
  • Presents a unique way to connect with nature
  • Allows the opportunity to visit family and have a place of your own when you get there
  • RV travel is a good way to social distance when you need to do so
  • Allows for more flexibility 
  • Gives you your choice of seasons
  • You can still receive your mail wherever you go
  • You get the feel of a home while being in almost any location

While you’ll have to make some sacrifices along the way, mainly when it comes to material items, there are plenty of advantages to retiring in an RV full-time. For example, RVers can enjoy flexible schedules: for those who find themselves with early retirement, this is a great way to structure your schedule how you like or to have no schedule at all. For those who are still working, an RV lets you take your career on the road, offering the chance to travel and explore new places while keeping your job or transitioning into something home-based. 

When you retire in an RV, you’re also less likely to outspend your savings. Plus, RVers can avoid the hassles that can come with homeownership such as maintenance costs, property taxes, the stress of utility bills and even having the same neighbors all of the time.

Be Aware of Some of the Disadvantages

The disadvantages of retiring in an RV are relatively few, but they are worth keeping in mind before you jump into this lifestyle. For starters, RV living is not for everyone so it’s important to know that while some people may have a long list of why RVing is a good idea, others may have a list stating the opposite. It’s all about your personal preference and experience. 

Here are a few downfalls to doing it;

  • If you solo-travel, RVing could feel lonely at times
  • The cost of maintenance can fluctuate and is often higher for motorhomes than for towable trailers
  • RV life is highly weather-dependent but of course, this only matters if you care about avoiding harsh weather when you park such as winter snowfalls or consistent rain
  • Lack of routine; this can be difficult for some but you will have the opportunity to start a new routine
  • Travel days can be long but they are what you make it
  • High chances of unexpected issues
  • Forgetting to park to enjoy your surroundings can lead to burnout

Here’s What You Need to Get Started on a Cross-Country RV Trip

Before you start planning your trip in an RV, you’ll first want to determine the logistics of both owning and driving the vehicle. Mainly, consider your limitations. Luckily, many companies specialize in cross-country RV rentals so you can rent an RV to get a taste of the lifestyle first if you don’t want to buy right away.

You will also have to decide on whether to tow or drive the vehicle. When making this decision, take into account what you already have and what you want. If you already have a truck, consider a towable travel trailer which will be significantly cheaper. If you already have a smaller car and want to drive your home with a lot of living space, a Class A or C would be best for you. 

After figuring out the best option for your needs, it’s time for everything else. Here’s what you’ll need;

  • Obtain insurance for your RV
  • Figure out your mail and where/how you want to receive it
  • Join RV forums, groups, and clubs to get a sense of community and to have a resource for information
  • Get memberships to allow you state park stays and easy navigation of campgrounds
  • Consider mapping out your trip
  • Adjust your health insurance if needed
  • Downsize, either rent out your existing home or obtain a storage unit if you’re looking to sell
  • Ensure you’re comfortable hitching up, driving, leveling, and unhitching your RV setup

Costs to Expect When Rving Full-Time: Can You Do It on Just Social Security?

Many seniors wonder if they can fund their RV lifestyle on social security. The answer is, yes, this can absolutely be done. The thing is, it might even be more doable than traditional living in a brick-and-mortar on social security alone. You can travel anywhere and find a retired community if that is your plan, or if you want to stay on the road, it is possible to do that as well. 

Currently, if you are over 66 years of age a social security payout will be $3,148 and by age 70 that amount will be $3,895. This also doesn’t have to just be your travel budget. Your social security benefits could fund the majority of your trip and give you breathing room for other things. Keep in mind though that RV living, especially for those that travel full-time can range anywhere from $2,500 a month to even $9,057. 

While the price will fluctuate, don’t let that discourage you. The higher ranges are often for families such as those that include young children, constant driving, and sticking to strict travel schedules. The experience will be different for each person.

So, Is Full-Time RVing Right for You?

Whether RVing full-time is right for you is completely based on your preferences. People often take time to plan out an RV trip, while others do it on a whim. What you can do right now will be based on what you have the time and the means to do. 

There are plenty of reasons why you might want to retire in an RV, from enjoying the adventure to saving money. There also may be some hurdles you need to overcome before you make the leap. 

No matter your situation, senior living in an RV has its undeniable perks, and if you have the plan to do it, keep in mind that at least 79 million people aged between 55 and 74 are expected to own an RV by 2025, why not join them?

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