Recent data shows that roughly 17.2 million households are interested in buying an RV.
You might belong to one of these households, but you may have some questions about how much does RV maintenance cost, among other expenses. After all, you don’t want to buy an RV only to discover you can’t pay for it over the long term.
Keep reading, and you’ll learn more about the costs associated with owning an RV. If you’re looking to buy an RV, this post will help you make an educated financial decision.
Let’s begin!
Insurance Cost
If you buy an RV, you’ll need to pay for insurance so that you’re not left with a huge bill should something go wrong. The amount you pay for insurance generally depends on where you live and the kind of RV you own.
Furthermore, if you buy a second-hand RV, you may face higher insurance rates simply because the vehicle has experienced more wear and tear. Some insurers will also consider how much experience you have in regards to driving an RV.
RV Maintenance Cost
If you own an RV, you’ll also need to pay for routine maintenance and repairs.
It’s hard to say how much this figure will amount to since it depends on the kind of RV you own. That said, some experts feel as though you should budget around $100 per month for RV maintenance costs.
If you want to lower this cost, there’s always the option of learning how to perform basic RV repairs. If you know how to perform basic repairs, you’ll only need to pay for parts and not labor, should something go wrong with the RV.
Storing Your RV
RVs can take up a lot of space, and you might not have a garage or driveway that’s big enough for an RV and your day to day car.
Following this, you may need to invest in RV storage so you can own an RV, if you don’t have storage space on your property.
If you’re in this position, you should use the services of a specialist RV storage company. These firms are better than ‘standard storage companies’ as they provide specialist facilities for RV owners.
For instance, some RV storage centers provide free water dumping and filling stations so you can easily replace the water in your RV. If you’d like to learn more about these kinds of facilities, you can see more here on RV storage.
Can You Afford an RV?
Owning an RV is a big financial commitment, and it’s vital you understand the costs associated with this kind of purchase.
As shown above, there are many costs associated with owning an RV, and you might want to create a spreadsheet so you can track everything.
In doing so, you can get some clarity on things like what your RV maintenance cost will likely be, and this will then help you decide how much money you need to put aside.
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