The average rent for a one bedroom apartment in the United States is currently over $900 a month or $10,800 a year (according to Google). That’s a lot of money, especially with a low paying job. How are young people supposed to get ahead with that kind of a drain on their monthly income? Landlords collect money every month and at the end of the lease the tenant has nothing to show for it. Granted the landlord takes responsibility for the building and incurs the mortgage and maintenance cost. But in the end the landlord keeps both the rent and the apartment. Rentals have their place in certain situations. But if a young person with a low paying job was able to hold onto their hard earned rent money it could really help them to get ahead. With all that money a person would be able to quickly save a down payment to buy a house. Or you could pay off student loan debts and step off the hamster wheel of life and travel unencumbered by the stresses of constantly having to come up with next months rent.
“Less is More”
Is a $900 dollar a month studio apartment really that much more comfortable than sleeping in a well equipped van? How much space does your bed actually take up? After subtracting the hours of life that it takes you to come up with rent money every month, how does the freedom that van dwelling offers look to you now? What if you did something a little out of the ordinary to get ahead of the game and keep that hard earned money in YOUR pocket??? The freedom that living without a monthly rent payment could change your life, (if you can be comfortable while doing it). Moving up from a car to a van isn’t that big of a step, most people own a vehicle anyway. But when you live in a van it can have a dramatic impact on your bottom line. Having less things and less bills to pay offers you more free time and money with which to enjoy it.
“Qualifying for a car loan is WAY easier than getting a home loan”
It’s difficult to jump through all the required hoops to get a home mortgage loan, but banks will give automobile loans to just about anyone that has a job. This is especially important for young people who haven’t yet established much credit history. Depending on how expensive rent is in your area, you could be paying anywhere from $600-$900 a month or between $7,200-$10,800 a year for an apartment. There are MANY really nice dependable used vans that can be found in that price range and below. But I would urge you not to be too cheap when looking for wheels unless you’re mechanically inclined and don’t mind fixing things. Why bother going really cheap when the bank will loan you the money for something nicer? You were going to throw all that money away in rent anyhow! If you live in the van for one year and pay the bank back what you would have given away to the landlord it is like getting the van for free! You could have an efficiency apartment on wheels paid off by the end of the year! Again most people own a car and are going to be paying for gas and insurance anyway, so by switching to a van you are hitting two birds with one stone.
Owning your own little house on wheels is the ultimate way to experience the travel lifestyle. Housing is the biggest single expense in most budgets. A mobile lifestyle can redirect that flow of income back into your bottom line and make traveling/saving that much easier. I believe that building your tiny house inside of a van has many advantages over building your tiny house on a trailer, (which is all the hype these days). I like the philosophy behind the “tiny house movement” but I believe that doing it in a van is a better way to go, I will explain why in my next post. Thanks for stopping in and please visit regularly, in addition to vandwelling and tiny house living this blog will also be discussing thriftiness, minimalism, and thinking outside of the box. See you soon!