Doesn’t it seem that people are buying RVs by the droves? Solos, couples and young families are taking to the RV lifestyle. But why? What is causing this massive uptick in RV sales? Is it due to the nature of travel or the feeling of wanderlust? Or is it something else? We answer those questions and talk about concerns surrounding this type of lifestyle.
Let’s dive into finding out why the sudden shift in escalating new and preowned RV sales.
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Why People are Buying RVs in Droves!
(Pssst, it’s not why you think!)
Obviously, most Americans are watching their bank accounts a lot closer these days. With that, they are taking a closer look at staying closer to home, cheaper vacations, and more frugal getaways. B
ut, there are a few other reasons why people are buying RVs and campers that have nothing to do with outdoor recreation or travel.
Many people find that RVing is a cheaper alternative to expensive vacations. Buying an RV eliminates costly flights, rental cars and hotel expenses.
And, especially those with larger families and limited budgets, RV camping is a much more affordable way to visit distant families and travel.
But also, families especially are seeking closer-to-home camping getaways that only costs them campground fees, meals and some activity admission fees. One night in a hotel would pay for a 3-day weekend at a campground. And, it’s much cheaper to cook in an RV than eating out at restaurants.
And finally, other than a few incidentals like some important RV outdoor gear, firewood and ingredients to make s’mores, camping is definitely much cheaper than that Disney vacation or Viva Las Vegas.
Spend Quality Time with Family
I’m sure you’ve seen those cool Go RVing commercials on television. I mean, truly there’s nothing better than taking the camper out for a weekend getaway or during the kids’ summer vacation.
Where else can you enjoy a roaring campfire, roasting marshmallows, laughing and singing with your family without spending a fortune?
RVing allows the kids explore beyond their own backyard and gets them outside to enjoy and learn about nature.
Having your own RV is one of the best ways to unite and spend quality time with your family. You’ll create lifelong memories they’ll want to pass down to their own families.
Camping with Friends
Lot’s of people buy RVs so they can get in some camping trips with their friends. It’s a way of rekindling friendships and making new friends all while enjoying the outdoors.
RVing is a great way to get away from the trials of life; even if it’s just for a weekend here and there.
Enjoy Full-Time RV Living
A lot of people are enamored by the nomadic RV lifestyle; including ours. They love the idea of just picking up and going. After reading a couple blogs and watch hours upon hours of YouTube videos, they get in the minds, “I can do that too!”
Psssst! And so can you!!! So, go buy a motorhome or towable RV and hit the road for reasons aforementioned!
Remote Work Opportunities
During the pandemic, a lot of careers and jobs shifted from the office cubicles to working remotely. This has actually gave a lot of leniency to those with wanderlust to go out and buy an RV.
Even years later, they’re still working from the road while camping and traveling in their RVs.
By working remotely, employees and contractors work their prescribed hours. Instead of enduring a grueling commute after work, RVers are literally stepping outside to go hiking in the mountains, mountain biking in the canyons or camping on the beach.
Cheaper Standard of Living
The idea of a cheaper standard of living is all over social media group discussions. People are looking at a more minimalist approach to living. They’re finding they don’t need the huge McMansion, white picket fence and more toys in the garage than Carter has pills.
Frugal spenders are looking at living in an RV as an alternative to paying for overpriced rentals or paying bigger mortgages. Campgrounds and RV parks generally offer cheaper monthly rates. They are buying either a cheaper new(er) model RV or an older RV that already depreciated in value.
✰✰ RELATED ✰✰ 10 Year Rule: Why Old RVs May Not Be Welcome at RV Parks
A lot of people are simply finding they don’t need the big 4 bedroom home with 3 car garage. Especially seniors, boomers, empty nesters, DINKS (double income no kids) and professional solos are downsizing to a much smaller and simple lifestyle.
No longer do they want to be tasked with landscaping big yards and cleaning big houses with bedrooms that aren’t being used. With that, they’re not paying those high taxes and HOA fees on a house.
Buying an RV releases them from the keep up with the Jones’ lifestyle. At the same time, it allows them the opportunity to travel with their home (on wheels).
✰✰ RELATED ✰✰ 8 Downsizing Tips: How to Get Rid of Your Stuff
Forced Economic Reasons
Since the pandemic, the sudden shift in the economy has caused a lot of wage earners to pull back their expenses. The economy downturn has caused job terminations and layoffs that forces many out of their pricy homes.
Having to reevaluate even their basic expenses, people are buying RVs to downsize their financials as well as their lifestyle.
And of course, solos, couples and families are buying RVs for more frugal getaways and cheaper vacations.
Selling the House for Profit
A lot of homeowners are taking advantage of the seller’s market. People are selling their home to cash in and make a great profit on their house.
However, there’s a flip side to this unsettled economy.
Since home sales have hit the roof and beyond, now home sellers are waiting it out to buy their new home until the market simmers down and home prices decrease again. This makes buying an RV a temporary living situation until the volatile housing market dust settles.
Mortgage Rate Increases
As with home sales, banks and mortgage lenders have joined in on getting a piece of the pie by charging bigger mortgage rates.
In general, people as a whole are not about to give banks anymore of their money. Those with variable mortgage rates are dumping their homes to get out from underneath their loans.
And even those with existing home mortgages, most pay more in interest than the principle amounts on their loans.
Skyrocketing Housing Rentals
We’ve all seen or heard it on the news. Since the pandemic, the current housing rental market has become a vicious uncontrollable spiral of unknowns (2024). This is causing drastic increases in the housing rental market.
Landlords are taking the current housing market as a green light to sell and make a huge profit. Then a buyer comes in paying top dollar and turns around and charges even higher rent.
But this also forces singles, couples and families out to look for affordable rentals (which there are none). Even military families are having a huge problem finding even rental apartments they can afford on their housing allowances.
This is precisely why we are seeing droves of people buying into the full-time RV lifestyle. Sad as it may seem, it’s because all they can afford is a trailer and live in a cheap RV park.
Increase in Property Taxes
You’ve heard that saying, “being taxed right out of my house”?
This is exactly what is happening across the United States. As with everything else in the current economy, real estate taxes are teetering over the edge as well forcing a lot of homeowners to sell their homes.
This, coupled with job loss or lesser income and high homeowners’ insurance costs, real estate taxes are driving homeowners right to the RV dealerships for a cheaper alternative.
Expensive and Demanding HOAs
Because of the rise in employment costs and taxes, appropriating for insurance and legal fees as well as amenities tied to Home Owners Associations, they too have set out higher bills for annual HOA dues.
But also, homeowners are getting tired of the strict and sometimes senseless rules HOAs place on them. So, they escape the HOA trap, sell their home and buy an RV.
As you’ve just noted, the plethora of reasons why people are buying RVs is mostly due to economic reasons.
But the other explanation is people and families are simply looking for more meaningful vacations, quality family time with less distractions, a way to enjoy the outdoors and nature and that amazing urge of wanderlust.
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