RV to a Tiny Home Conversion
Part 1
“Today more than ever, millenials are choosing alternative ways of living compared to their boomer parents.
Bigsby
With the rising cost of housing, soaring inflation and skyrocketing student debt, todays emerging adult faces a growing problem unique to their generation.
Unlike their predecessors before them, millenials and Gen Z generations are approaching a very uncertain economic climate.
Most recent college graduates are surprised to find that the jobs that they studied to qualify for are vastly unavailable and if not, the rate at which they are paid has neglected to keep up with academic inflation. The predicament is real and also terrifying.
Entry level employees are trying to figure out if they can even afford to live on their own once Freddy Mac and Sally Mae come-a-calling for their money back.
The average college student is starting their independent life nearly $60,000 in debt with inflation continuing to rise.
“Necessity is indeed the mother of invention.”
-Jo March
With this new world that they have inherited a Millenial and a Gen Z’er is forced to think WAY out of the box. For some, the idea of moving back home until they can discover a plan b and save some money is a viable option. But for many this is not an option at all for one reason or another.
Enter-💵💰💵💰saving alternatives
- Tiny Home
There are many pros and cons for going this route but increasingly the cost of one of these bad boys is slowly creeping toward the cost of an actual home. Some zoning restrictions wont even allow a tiny home to be put on its land.
- DIY house kit (pods, cabin kits, container homes)
Again homes like these or other alternative forms of housing are starting to find themselves costing as much or sometimes more than a traditional home. Comparable to the option above, zoning becomes another complication.
- RV
Recreational vehicles or (RVs) are finding themselves to be more and more in demand by one of the largest generations to emerge this century. To qualify for one of these your credit must be darn near perfect (thank you 2008) the gift that keeps on giving. But alternatively, you can find a decent used model in cash and flip it for personal use or for profit.
Now lets take a look at some more pros and cons for this option-
Pros-
- Affordable to flip in cash if you are handy
2. No need for perfect credit
3. Mortgage/rent free living
4. A smart transition if your goal is to build a stick built home
Cons-
- RV hookup sites are in much higher demand than they used to be- Supply cant keep up with the increasing demand so campground owners are raising their rates for lot rent.
- Unrestricted land is hard to find and expensive to buy- Much like the inflation affecting housing, land is last to be affected but it is still slowly climbing in cost like everything else.
Who’s to blame?
Thats a complicated question with no one easy answer-but lets examine it for a moment; from a purposefully inflated economy, to the people Who capitalize on the monetary predicament of others, the situation is multi-faceted. Something we need to realize is, an opportunist NEVER wastes a good crisis. This is the concept that the opportunist’s of every civilization across time have attested to.
“Theres a housing crisis” they ask? “Perfect time to raise rent costs” they say.
Campgrounds are more in demand than ever?
“Lets raise the price of lot rent, hey they’ll pay it they don’t have a choice.”
One thing these generations know for sure? They need a place to live and they will figure out a resourceful way to get it. Each generation faces its own unique challenges, and now is their turn to rise to the occasion!
Stay tuned for part 2
Our Journey to housing financial freedom–