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Why is purchasing an RV a wise or poor decision?

I'm planning on moving soon and can't decide between purchasing and living in a mobile home or an RV. What are the benefits and drawbacks to living in an RV?

Public Comments

1. Personally I think that both a mobile home and an RV are bad investments. The reason is that both are considered vehicles and depreciate accordingly.

2. Patrick is correct, however that does not ans your question,
the mobile home is OK unless you intend to leave shortly and the motorhome is a lesser value, because its a gas guzzler.
Your best investment is a 5Th wheel for stability, room with slid-outs, resale and pickup and move on a whim.

If you shop in the winter for a 5th whl, you'll make a good deal and you will be putting your rental money into payments and will be free of the indebtedness soon and lower you monthly costs in the long run.

you need a vehicle to drive, so why not a Pu rather then a car...then go whenever......

3. ya i agree with the last person- both bad decisions if that is what you are considering for housing. most banks will not even touch financing a mobile home and for good reason- they become really mobile when a storm hits and your house becomes your neighbors second floor. addittionaly - usually you have to pay OUTRAGEOUS park fees to park a mobile home- once you factor in the fees- you might as well spent your money on a decent house that might actually appreciate in value rather than depreciate.
On the other hand- RV's are not really meant to be lived in permantly- I mean i would love a RV to travel in but thats really all they are meant for - and where are you going to park it? and again if you park it in a RV park- the fees are outrageous.
A RV will not last you as long as a mobile home- they are just not built the same- mobile homes are more intened to live in more permanantly and will hold up longer.
So i would say if this is all you can afford - then go with the mobile home. But be carefull about picking a place to "park" it cause they can be costly to move around.
Now if this is the purchase of a second home-or if you want to be able to easily move it in the future you might go with the RV - much more easily moved.