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 answer concerns surrounding this type of lifestyle.
So, let’s dive into finding out why the sudden shift in escalating new and preowned RV sales.
Why So Many People are Buying RVs (Pssst, it’s not why you think!)
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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. But, there are a few other reasons why people are buying RVs and campers that have nothing to do with outdoor recreation or travel.
Cheap recreation and vacations
Generally speaking, RVing is a cheaper alternative to expensive vacations that involve flight costs, rental cars and hotel expenses. 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
You’ve seen the Go RVing commercials on television. There’s nothing better than taking the camper out for a weekend getaway or during the kids’ summer vacation. Enjoying a campfire, roasting marshmallows, laughing and singing with your family is priceless. Letting the kids explore beyond their own backyard and getting back to nature is one of the best ways to unite your family. You’ll never get that time back. However, RVing creates memories that will last a lifetime.
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.
To LIVE the RV lifestyle
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!” So, they go buy a motorhome or towable RV and hit the road for reasons aforementioned.
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. Now they can continue to work on the road (if they’re employer allows it) 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.
A lot of people are simply finding they don’t need the big 4 bedroom home with 3 car garage. Especially seniors and empty nesters, DINKS (double income no kids), and professional solos are wanting to downsize to a much smaller and simple lifestyle. They don’t want to be tasked with landscaping big yards, cleaning bedrooms that aren’t being used and of course, paying taxes and HOA fees on a house that’s just way to big or their needs.
So, buying an RV releases them from the keep up with the Jones’ lifestyle. At the same time, allowing them the opportunity to travel with their home (on wheels).
Forced economic reasons
The sudden shift in the economy since the pandemic has caused a lot of income earners to pull back their expenses. Many people lost their jobs or were forced to accept lesser hours thus, reducing their income. Having to reevaluate even their basic expenses, people are buying RVs to downsize their financials. And of course, as mentioned earlier, 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. The typical scenario is people sell their home to make a great profit on their house.
But, since home sales have hit the roof and beyond, home sellers are waiting it out to buy their new home until the market simmers down and home prices decrease again.
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.
Rentals have skyrocketed
We’ve all seen or heard it on the news. The current housing rental market is out of control (2022). There’s a lot of dynamics surrounding the high rent situation.
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). I even take personal note that 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. It’s because all they can afford is a trailer and live in a cheap RV park that allows yearly rentals.
Increased property taxes
You’ve heard that saying, “being taxed right out of my house”? 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.
HOAs are too demanding
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.
Final thoughts on why so many people are buying RVs
As you’ve just read, the reasons why so many people are buying RVs are mostly due to economic reasons. But the most obvious is people are simply looking for more down to earth vacations, quality family time with less distractions, enjoy nature and to fill that urge of wanderlust.
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