This decision is one of the most stressed-over for families looking to live full-time in an RV. The answer? It is just as individual in nature as the family itself!
Let us take you through our process so that those that are reading, and considering doing the same, can have at least another perspective on what was the HARDEST (and most exhausting) decision for us on our journey.
Sell the house or keep it? (And what about renting it out?)
For us, this one was actually quite easy. We purchased our home in Nov of 2013 while I worked for my previous airline. Knowing that my previous airline wasn’t my career “goal” we committed to staying in our 2013 home until I was hired at a major airline, and off probation-pay! This milestone was set in motion in May 2019 when I was hired by a “Major” or “Legacy” Airline. From there, we knew that the “fuse had been lit” so-to-speak for us to be able to move onto what we were planning for our next home. This decision to RV was able to be slid right in-between the 2013 home’s sale and the purchase of the next house.
What about renting it out? This perspective I received from a wonderful friend, Bryan and truthfully, we hadn’t considered it. We took a look at a few items to quantify this possibility:
- Estimated rent in our area, for our house-type (versus our current payment).
- The estimated appreciation of the house over the time we were going to be renting it.
- The estimated principal reduction in that same time.
- We also considered the need to occupy the house for a certain number of years so as to not be subject to capital gains tax (check with your accountant!!)
On top of these, we had to look at the numbers for estimated occupancy rate, wear-and-tear to the house and costs to repair/replace after rental for sale (so as not to lose the tax advantages!) – these are not specific to our area, they are relatively the same for all rentals, anywhere.
The decision?
In the end, we decided to sell the house. Although there was no real “plan” for the house proceeds, we felt that reducing complexity was going to have the highest chance of enjoyment on what was already slated to be a very complex and fast-paced journey. There are two ideas that kept bouncing around in my head as we discussed the options – ideas that I had gathered over the past with no specific relation to this situation
- Dave Ramsey – if you’re going to buy the car (new/with a loan/used/big/small/etc) at least know what you’re getting into and don’t be surprised by its effects on your budgeting
- From my father-in-law, a realtor in Arizona (Shamless plug! www.DaveKinnaman.com) – It is completely fine to be a landlord, but don’t be pushed into being a landlord just because you don’t know what to do with the house. Being a landlord can require a lot of work, and if you are not ready for that work you’re going to stress yourself out (and possibly eliminate ANY financial gain).
We decided on the more simple route (even if we could have made some additional income from renting the house out) and honestly, it has been wonderful to be onto the next chapter, more simply!
Sell all of your house “stuff” or keep it?
This is also one of the more complicated decisions that a family has to make in the transition. In our specific situation, we had come to a time in our lives when a lot of the furniture was “worn out.” It would either need to be redone, or would need to be replaced. Benjamin (our youngest), was still in a crib-sized mattress (albeit in a “big kids bed” that matched Conner’s treehouse-style bed.
We made a timeline with roughly one room to be “gone through” per month. We went through all of the rooms, giving-away or trashing what we didn’t need any longer, packing up what we didn’t need until the “next house” and keeping accessible what we used every day.
This process took us from August 2019 through March 2020. We began to use one side of the garage as a storage location for storage, garage-sale, and give-away. In February 2020, we had one of the largest yard-sales we had ever produced! We sold a lot of the items, and donated what we didn’t sell. We donated, and donated, and donated.
Simultaneously, we had some minor repairs to make to the house (fence repair, deep cleaning, etc.) and this lack of “stuff” in the house was making it even easier and neater than ever before!
In the end, we did rent a storage unit in one nearby storage location. We elected for one big climate controlled unit (rather than two different units; one climate controlled and one not) and began to move items into that storage unit.
As we were moved out, we needed to empty the attic. There was a lot of (mostly useless) junk up there! Years ago, I had put OSB in the attic to create a floor to make storing and navigating the attic more easy. As I was lowering one of the last items from the attic, I stepped back – and missed the only 2′ x 2′ section of uncovered space in the attic. Yep, fell. through. the. ceiling. Did I mention I hate roofs (and now ceilings)? That scar will be there to remind me for a loooong time.
In March 2020, we purchased the trailer, and through the insanity of COVID we were able to remodel the trailer to our liking and desire. In mid-April, we began to move small pieces into the trailer. On the last day of April, we pulled the trailer to the front of our home (COMPLETELY AGAINST THE HOA!) and began the insane task of moving everything we had left into the trailer. This allowed us to fill the storage unit with what was left in the home and allowed us to finally make the leap into the trailer.
With TONS (and I mean TONS!) of help from our dear friends, we threw everything into the trailer and moved it to a nearby RV park. That was the first night we spent in the trailer.
Over the next three weeks, we would receive an offer on our home, and we would begin to pack up, clean, and store/trash/give-away every item that remained.
We do already have plans to go through the storage unit again when we return, in January, to North Texas. We hope to get rid of many more items! I know we will never get rid of everything, but we have very much enjoyed the tiny-home and (more) minimalist approach these last 6 months has brought us.
Every situation is different, but we heavily considered all the perspectives we heard or could think and we did our best to choose the best path with all the information we were given.
Good luck on yours!