Senior Living News

Pros of Downsizing to an RV in Retirement

Taking your home on the road by living in an RV in retirement offers several advantages, including:

• Ability to travel. Because your home moves, you can check off destinations on your travel bucket list easily. If you have family members in different parts of the country, you can split your time between them.
• No property taxes. Moving out of a traditional home eliminates property tax bills.
• No yard work. Another perk of not owning a permanent property is that you can retire your mower and other yard work equipment.
• Sense of community. Meeting other seniors who RV permanently gives you a sense of community and could help you make new lifelong friends.
• Active, exciting lifestyle. Seeing new places keeps you active and gives you a sense of adventure.

Cons of Full-Time RVing as an Older Adult

‍It's also important to consider the potential problems with RVing full-time. Here are some cons of this downsizing option:

• High initial cost. The average cost of a towable RV is $20,000 to $100,000, while motorhomes typically range from $50,000 to $600,000. You may also need to buy other supplies and tools for your RV. Over time, you have fuel costs and camping spot fees to account for.
• Lost value. New RVs lose value quickly. That depreciation rate means you could owe more on the RV than it's worth.
• Maintenance. RVs require a lot of maintenance, and you could face issues like flat tires and engine trouble. Maintenance and repairs can get expensive.
• Inconsistent medical care. If you spend time in different parts of the country, you won't always be close to your care providers when health issues arise or you need routine care. For older adults with health conditions, this can result in inadequate care.
• Amount of work. Setting up a camper takes time and physical labor. If you move to different campgrounds regularly, this can add up to lots of work.

RVing Tips for Seniors

‍If you're ready to start RVing in retirement, consider these tips:

• Do a trial run. Renting an RV to test out the lifestyle helps you decide if it's right for you.
• Choose your RV carefully. Ensure you can afford the RV. It's easy to get caught up in fancy features, but those extras add to the cost.
• Calculate all costs. Estimate how much you'll spend on fuel, supplies, insurance and campground spot rentals to budget for RVing.
• Familiarize yourself with the RV. You need to know how to drive safely, set up the camper at a campground, empty the waste and perform all other RV tasks. Practice before you hit the road so you're comfortable with it.
• Consider joining an RV club. These groups often focus on specific interests and help you meet other full-time RVers.
• Choose your home base. Even though your home is on wheels, having a specific area as your home base makes it easier to manage your life. You can find medical providers in that area that you come back to visit regularly. Set up a P.O. box or have mail sent to a relative.

Other Options for Downsizing

‍RVing is just one of many ways to downsize your home later in life. If the RV life isn't for you, consider these options.

‍Smaller Home

‍Seniors who want to maintain a home base often downsize to a smaller house. You still have the benefits of homeownership and maintain a regular home base. However, the cost is typically lower, and you have less space to maintain, which can be easier as you get older.  

‍Condo or Apartment

‍Seniors who want a more carefree lifestyle might choose to buy a condo or rent an apartment. Maintenance is typically taken care of for you in those situations. Some condo and apartment communities offer attractive features, such as pools or community rooms.

‍Living With Family

‍Moving in with family saves expenses and gives you more time with your loved ones. This might be a solution if you need a little help with everyday tasks. Your presence might also benefit your family. For example, if you move in with your child, you might babysit your grandchildren or cook meals for the family.

‍Independent Living

‍Independent living offers a carefree way to downsize while having lots of amenities and services available. At Lifestream at North Phoenix in Phoenix, Arizona, you can enjoy cozy homes with on-site housekeeping and maintenance services. Living in a senior community makes it easy to meet new people who share similar experiences. Another perk is having a predictable monthly fee without unexpected housing expenses.

‍Assisted Living

‍Another senior living option is assisted living. You might decide that assisted living is right for you if you need extra help with personal care tasks or medication management. Like independent living, assisted living gives you a built-in community of other seniors, along with various amenities that are included in your monthly fee.