Monday, December 10, 2007

The house decision

Many of the prospective fulltime RVers we have talked to have wondered if they should try to keep their house or sell it. We wondered the same thing and I decided to take a look at the decision process.

A house is an emotional item to many, but for the fulltimer, the house question is fundamentally an issue of emotion versus investment. Some of the items we considered were:
  • Should we keep house as an "escape" in case fulltiming doesn't work out?
  • If we do keep it, how much would it cost to keep it?
  • What kind of factors do we need to consider when determining the cost?
To try and evaluate this, we considered the following cost items:
  1. Home value
  2. Home mortgage costs
  3. Utilities costs
  4. Condo or homeowner fees
  5. Opportunity costs of your home equity you could invest
  6. Maintenance costs
  7. Property Taxes
Using this information, we created a spreadsheet that allows you to input the costs that represent your individual data. Access the spreadsheet here .

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