rent to buy 3 of 3

RENT TO BUY 3

So, we’ve eliminated buying a house.  You can build one yourself after you find the land, living in a tent or RV until the first room goes up paying as you go.  If you are stuck in town forever, try to find a really old, essentially worthless for resale mobile home that is minimum cost to buy.  They can’t be moved, so the current owner sells them cheap just to get out of the park where the rent keeps going up.  Yes, well, so do apartment rents-mobile rents are still cheaper.  The metal roofs make for cheap upkeep.

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If you want an RV because you will constantly be on the move, and are forced to buy new because all the RV parks are asswhores and want “new only” because somehow if you are poor you are a criminal, you will never recoup your costs and are royally screwed.  A short one you can piss from one end to the other is around ten thousand.  With park rent one half to one third the cost of an apartment, you need to be there two years before the cost savings start.  Since their quality sucks, is that worth to you?

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The appeal used to be, you live in it in the park, then live in it on your own land.  No stress moving or setting up.  But that ten grand, fifteen for a little more space, has to be affordable to you. And I would plan on building over that trailer once on your land ( not junk land, but a more conventional lot closer and in the climate you desire-since junk land usually means desert, which is not most folks cup of tea ), to avoid the weather damage most new builds seem to encourage-so budget for that.

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Obviously there are cheaper options.  We’ve talked of them before.  I’m not trying to rehash those here.  Anyone can live out of their car without needing input from me.  I’m trying to adhere to the most conventional options, on a budget.  Not that an RV is even all that conventional, in the minds of many.  But with every single modern amenity at least they allow you the option of picking them without sacrifice ( just sell them as a skinny apartment-don’t fall for that stupid crap “tiny house”.  The newer ones have pop-outs and mimic a mobile ).  Hell, most wives balk at even a mobile home.

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If you need to make payments, unable to scrape up much cash, I would find a used RV from a dealer you can get a loan for.  A five year loan on a newer small unit would run you around $150 a month, and with $400 for lot rent you still come out ahead compared to an apartment.  Even being a roommate in an apartment costs about that much.  I don’t look on this as debt per se, but the cost of renting.  ALL rent is money down the crapper.  Hey, you can still walk away in an emergency.

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Some folks might bring up lower down payments on a house, and “jingle mail”.  Renting out rooms to get almost free rent.  I only hesitate on that because each state is different.  The states easiest to walk away without lawful penalty also have the highest prices.  Some states you cannot easily discharge the mortgage obligation.  And after you screwed up your credit score ( not that I’m opposed to that-but remember here we speak of a Normey Life, not an Extreme Frugal one ), how do you then buy land to build your house? 

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Most of the above presupposes a long span of time until the balloon goes up.  Not that anyone can forecast that, but all of us have an idea of how long it is until the end and live accordingly.  I always assume today is the last normal day.  You might be looking at sun cycles, 4^th Turning models, the most optimistic timetable on fracking depletion or what have you.  But what should you do if you are more inclined to be on the short end of that guess?  You don’t think we have ten years, but neither do you want to drop everything now and panic.

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Try to get the wife sold on the RV.  A lot rent and a loan payment ( just like everything else, you don’t work against depreciation but with it.  Don’t buy too new ) even on a good size trailer is still cheaper than an apartment.  You can repo the RV as desired, and there is no long term lease as with an apartment.  You would be advised to rent a storage shed ( or park a cargo trailer at the lot ) so the trailer isn’t cluttered.  All RV’s are comfortable to begin with.

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Think of them as a hotel room.  But as in a motel room, if you own anything more than a suitcase and a few clothes on hangers, it gets really claustrophobic really quick.  If you can store all your excess crap, you will live much more serenely.   An RV, although overpriced now, if bought used offers the lowest long term cost with the most flexibility ( remember, these are your cheapest NON-frugal options. For those too pampered and spoiled for thirty year old RV’s on junk land ) to quickly change circumstances.  And don’t forget about U-Haul.

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Unless you wait for a general panic, when nothing is for rent, on a normal day you can rent a big ass U-Haul to tow that travel trailer.  They all come with a hitch ( this precludes buying a fifth wheel ).  Lie about the size and weight of the RV to duplicate that of their car on the trailer option ( if needed ), but don’t rent too small that you can’t tow up hills.  You shouldn’t have to own a car to own an RV.  Don’t buy one with a motor in it unless you can repair that, or get it really cheap where you can drop the dead motor and install a tow bar.

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No option is great here.  I like the idea of cheap land with $20 in yearly property taxes ( bury the cabin to avoid taxes on a permanent building, and park a junked RV-also used as storage-as camouflage ).  But I understand most folks work harder than me and deserve more luxury.  No judgement here.  Live cheap to save up for land, then build a house as cash comes in.  You do that by making depreciation your friend.  This way you avoid the pitfalls of a house, yet never get sucked in to the waste of an apartment.  While still having flexibility and options.

( .Y. )

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