Long-Term Camping and Property Decisions
Long-Term Camping and Property Decisions is an expanding article in addition to our previous article Sell Your House and Camp Permanently.
When considering whether to keep your house, rent it out, or sell it while following a camping lifestyle, many factors come into play. The previous article dealt with the question in general and was written at the time we started our own long-term camping experience.
That article was published more than a year ago, and during this time we met, and had discussions with many long-term and permanent campers.
It sensitized us to the questions people ask and the topics they discuss.
The decisions surrounding selling or renting your house, and camping, all carry its unique set of advantages and challenges.
Below, I’ll discuss the pros and cons of each scenario and present them in both narrative and tabular forms to make a clearer comparison.
Keep Your House, Do Not Rent Out, and Camp
Pros:
- Stability and Security: Retaining ownership of your home provides a permanent base and a sense of stability. You always have a place to return to after your camping adventures.
- Flexibility: You can choose when to stay at home and when to go camping, giving you complete control over your living situation without the need to coordinate with tenants.
- Asset Appreciation: Over time, real estate generally appreciates in value. Keeping your house means you continue to benefit from this potential financial growth.
Cons:
- Costs: All the costs associated with homeownership (mortgage, taxes, maintenance) continue to accumulate, regardless of how often you are home. These expenses can be substantial without rental income to offset them.
- Underutilization: If you spend significant time camping, your home may remain unoccupied for long periods, leading to potential issues like maintenance oversight and a sense of wasted resources.
Keep Your House, Rent Out, and Camp
Pros:
- Income Generation: Renting out your home can provide a steady stream of income, which can be particularly beneficial to cover mortgage payments or fund your camping lifestyle.
- Home Maintenance: Tenants can help in maintaining the home and preventing issues that come from leaving a house unoccupied.
- Financial Efficiency: Utilizing your property to generate income can make financial sense, especially if the rental income covers all associated property costs.
Cons:
- Tenant Issues: Dealing with tenants can sometimes be challenging. Issues can range from late payments to damage to the property.
- Reduced Flexibility: When your home is rented out, returning home on a whim is not an option. You must adhere to the rental agreement and tenant rights.
- Management Requirements: Renting out your property often requires ongoing management, including regular maintenance and possibly hiring a property manager, which incurs additional costs.
Sell Your House and Camp
Pros:
- Capital Liberation: Selling your home frees up capital that can be invested elsewhere or used to enhance your camping lifestyle, such as purchasing a better-equipped camping vehicle or funding extended trips.
- Simplicity: Without a property to worry about, you can fully immerse yourself in the camping experience without the responsibilities and costs of homeownership.
- No Home-Related Expenses: Eliminating property-related expenses such as mortgage, taxes, and maintenance can significantly reduce your financial burden.
Cons:
- Loss of Asset: Selling your home means you lose a potentially appreciating asset and a stable home base, which can be a significant emotional and financial adjustment.
- Market Dependence: The real estate market can fluctuate, and if you sell during a market downturn, you might not get the full value of your investment.
- Reduced Stability: Without a fixed residence, feelings of instability or lack of community might be challenging for some individuals.
Comparative Table of Housing and Camping Alternatives
| Option | Pros | Cons |
|---|---|---|
| Keep House, Not Rent Out | Stability, flexibility, asset appreciation | High costs, underutilization |
| Keep House, Rent Out | Income generation, maintenance, financial efficiency | Tenant issues, reduced flexibility, management needs |
| Sell House and Camp | Capital liberation, simplicity, no home expenses | Loss of asset, market dependence, reduced stability |
Your choice will depend on your personal preferences, financial situation, and long-term lifestyle goals.
Whether you seek stability, financial efficiency, or simplicity, aligning your housing decision with these objectives will guide you toward the best outcome.
This is not an exhaustive list, and every person must consider all choices that may influence their decision.
Would-be long-term campers must also keep in mind the expenses of replenishing and maintaining your camping accessories and equipment.
Each option offers distinct advantages and challenges.
Pros and Cons of Furniture Storage when Camping Long-Term
Pros:
- Protection of Assets: Storing furniture can protect your belongings from wear and tear, especially valuable or sentimental items.
- Flexibility: You can rent out your property unfurnished, which might attract tenants who prefer to bring their own furniture, or use the space more flexibly.
Cons:
- Additional Costs: Storage costs can be significant, especially if you require a climate-controlled environment to protect delicate items.
- Accessibility: Access to your stored items can be limited based on the location and hours of the storage facility.
- Logistical Challenges: Moving furniture in and out of storage requires planning and can be physically demanding and costly.
Additional Considerations
Lifestyle Implications
- Amenities and Comforts: Ensuring access to essential services like laundry, showers, and reliable internet may pose problems while camping.
- Social Connections: Living a nomadic lifestyle might challenge maintaining old relationships and require efforts to build new connections.
- Weather and Climate: Adapting to various weather conditions and seasons is essential for a pleasant camping experience, and long-term camping requires adaptability in this respect.
Legalities and Logistics
- Property Responsibilities: Handling taxes and maintenance from afar and while living the nomadic lifestyle, requires careful planning and possibly professional help.
- Vehicle Logistics: Registration and insurance of your camping vehicle need to be up-to-date to avoid legal issues.
- Mail and Documentation: Setting up a reliable system for mail forwarding and safekeeping of important documents is crucial.
Trial Period and Alternatives
- Testing the Waters: Consider extended camping trips to truly understand if this lifestyle suits you before making permanent changes.
- Exploring Alternatives: Options like house-sitting or volunteering that provide accommodation can also be a way to travel without fully committing initially.
Sell, Government is Going to Expropriate Your House!
We often hear people advising others to sell their houses because they believe that the government will eventually expropriate all property.
This is dangerous advice and a flawed argument for one important reason: it uses expectations based on a view of a present situation and extends that into the future as fact.
That is flawed thinking because it lets you make decisions based on a current set of circumstances without considering the possibility of unexpected changes in circumstances. You can only solve tomorrow’s problems with tomorrow’s knowledge, not today’s.
This advice also does not consider factors such as the legal system, citizen backlash and economic and financial realities.
I find it questionable that people don’t even know when they will need to go to the toilet next, but they believe they know what other people will do far into the future.
Advice to sell property because government may expropriate it in future, is based on solving future problems with present solutions.
In Closing
I cannot give anyone advice about what they should do, because every person’s circumstances are different.
It is however important that would-be long-term campers evaluate their own situation as objectively and unemotionally as possible.
That is the only way in which to make a sensible and responsible decision that will not end in regret.
If you have comments, questions or inputs please share it with me as the those communications points me in the direction of questions that long-term campers want answers to.