I absolutely adore owning an RV. It gives my family the freedom to explore this beautiful country in the comfort of our own little home-on-wheels. We can travel off the beaten path, hit the road with very little preplanning, and fly by the seat of our pants.
That said, there are also some things about RV ownership that are less than glamorous. RV maintenance is incredibly important and sometimes seems never-ending, and then there is the cost of RV insurance and registration as well as storage. Still, I love having an RV and find that the expense of owning one is worthwhile.
Not sure if buying an RV is a good idea for you? This RV ownership guide will give you valuable insights and help you determine the answer to this question.
The Real Costs of RV Ownership
The first things you’ll want to consider are RV costs and expenses. We learned very quickly after purchasing our first RV that the purchase price is just the beginning when it comes to the costs of RV ownership.
Purchase Price: Financing vs. Paying Cash
First, there is of course the upfront purchase price of the RV. This can vary widely depending on the type of RV you choose, along with whether you buy new or used. We have always purchased used rigs to avoid getting hit with too much depreciation and have always spent less than $30K. That said, if you buy new, you can expect to see prices between $20K for a small inexpensive towable, and $200K or more for a luxury motorhome.
Obviously, RV financing can make ownership more accessible, but I much prefer cash purchases, which allow us to avoid interest and remove RV payments from our monthly budget.
Note: If you’re looking for the best price, buy during slow season.
Recurring Costs
As I mentioned above, owning an RV also comes with several ongoing expenses and RV upkeep costs. These include:
- Insurance: Insurance is required for most RVs and is critical for protecting your property and yourself. Premiums vary by vehicle type, use, and location.
- Roadside Assistance: You’ll also want to invest in RV roadside assistance. This has been a lifesaver for us on more than one occasion.
- Registration: You will also have to register your RV. Fees differ by state and RV class.
- Storage: We store our RV on my grandma’s land. If you can’t do something similar, expect monthly storage fees. These can range from $50 to $250 or more.
- Maintenance and Repairs: Clearly, you will want to stay on top of maintenance and repairs to keep your rig in tip-top shape. We spend a good chunk of change on this each year.
- Fuel and Campground Fees: Fuel costs add up, especially for long trips. Campground fees can also get expensive depending on where you stay. To save, budget for fuel efficiency and choose free or low-cost campsites.
Hidden Expenses
Beyond the basics, RV ownership includes several smaller—but often overlooked—costs. These are things like:
- Propane and generator fuel for cooking and powering appliances.
- Consumables such as toilet chemicals, filters, and cleaning supplies.
- Upgrades like solar panels, Wi-Fi systems, and/or towing gear.
In my opinion, RV ownership is still a good investment for my family—even with all of the costs involved—because we use our RV regularly. That said, some might feel differently. Knowing what to expect in terms of expenses and how often you plan to use the RV can help you determine whether it will be a smart investment.
RV Maintenance and Repair
Like I said earlier, keeping your RV in good shape means regular upkeep. RV maintenance and repair is, in my opinion, the least fun thing about RV ownership, but it really is a must-do.
Routine Maintenance Checklist
Not sure where to begin when it comes to maintenance? I make sure to schedule routine inspections for:
- Oil changes, tires, and brakes
- Roof and seal checks to prevent leaks
- Appliances, plumbing, and electrical systems
I set reminders in my phone to ensure I don’t miss an inspection.
Seasonal Maintenance
There are also some seasonal maintenance tasks that I set reminders for:
- Winterizing and De-winterizing: Only true four-season RVs can handle the winter cold—and really, even those need some protection. I use RV antifreeze to protect pipes and tanks from freezing, then drain the antifreeze to safely prepare for spring.
- Summer Prep: I check A/C systems, tires, and fluid levels before hitting the road in summer.
DIY vs. Professional Repairs
Personally, I like to handle most repairs and maintenance tasks myself. I’ve used YoutTube videos to teach myself everything from how to replace filters and reseal windows to how to replace light fixtures and repair our A/C unit. That said, I do leave complex electrical, plumbing, and engine work to professionals in order to avoid costly mistakes.
Roadside Assistance and Warranties
I love our RV roadside assistance plan. It has helped us out of a number of jams. Many RVers also have extended warranties that have been helpful for them. Because we like to buy used from individuals, we have never been offered a warranty, but I imagine it would be nice to have for peace of mind.
Understanding RV Values
It’s good to understand RV values and depreciation before you jump into buying. Knowing what I know now about these things will absolutely affect how I shop for an RV in the future.
New vs. Used RVs
Unlike homes, RVs depreciate quickly. Sometimes they’ll lose up to 20% of their value in the first year. This is why we always buy used RVs. We avoid that initial depreciation, so we don’t have to worry about being upside down in our home-on-wheels.
RV Values by Class
Depreciation rates vary by RV class. Motorhomes (Class A, B, and C) typically depreciate faster than towables. That said, luxury and specialty models (or those with special features) can hold value better. Travel trailers and fifth wheels tend to retain more of their worth over time if properly maintained. This is something I have personally witnessed in selling our various RVs.
Determining Fair Market Value
Determining what an RV is worth can be a bit tricky. When buying or selling, I like to use:
- RV pricing guides like NADA.
- Online marketplaces for real-time comparisons.
- Professional appraisals for accurate resale estimates.
By checking these resources, I am usually able to come up with a fair price that all parties can agree on.
Owner’s Manuals and Documentation
Your RV owner’s manual is one of your most valuable resources. It includes operating instructions, maintenance schedules, and troubleshooting guides specific to your make and model. Checking it before maintenance and repairs can help you avoid damaging your rig and might even extend the lifespan of your RV.
Digital vs. Printed Manuals
Every RV comes with a printed manual when purchased new. That said, many manufacturers now provide digital versions online. These are ideal for quick reference or backup copies. They also come in handy if you buy a used RV that does not have a printed manual with it, something we have had to deal with before.
Maintenance Logs and Receipts
As an RV owner, I have a lot to think about and keep track of. Even with everything I have on my plate, I still make sure to keep detailed records of all RV maintenance, upgrades, and repairs. I do this because it helps with troubleshooting and adds to RV resale value down the road, especially if a buyer is concerned about getting a lemon RV.
RV Ownership and Taxes
In addition to understanding the real costs of RV ownership, it’s good to understand how owning an RV will affect your taxes. I was really surprised by this particular aspect of owning an RV, especially when it comes to potential RV tax deductions.
Possible Deductions
Depending on how you use your RV, you may qualify for certain tax benefits. These include:
- Second Home Deductions: If your RV has sleeping, cooking, and toilet facilities, you may be able to deduct RV loan interest when filing your taxes.
- Business Use: Some people use their RVs for work or for work-related travel. In these cases, some expenses may qualify as deductions.
- Rental Income: Renting out your RV can generate income. You have to report that income on your taxes, but because you rent your RV, you may also be able to deduct some expenses of RV ownership.
Recordkeeping and Professional Help
In order to take any tax deductions, you will need a way to prove you are entitled to those benefits. Because of this, I make sure to maintain clear records of mileage, expenses, and income. It’s also important to note that tax laws vary based on the situation, so consulting a professional is always recommended.
Selling an RV
Eventually, every RV owner faces the decision to sell. In some cases, this is to upgrade; in other instances, it’s to downsize or even step away from the lifestyle. We’ve sold a few different rigs ourselves and this is what I’ve learned about selling an RV.
When It’s Time to Sell
If you no longer use your RV, there is really no reason to leave it sitting unused. It’ll just develop issues and depreciate. Instead, consider selling the rig and setting the money aside so you can buy again if and when you feel ready to travel again.
Another sign you might need to sell? An inability to keep up with the costs of ownership.
Prepping Your RV for Sale
Before we list an RV for sale, I do a lot of work to prepare it. First, I clean the rig thoroughly both inside and out. I fix any issues with the rig that might cause a buyer to turn away or might show up as a problem in an inspection, and then I stage it before taking high-quality photos to include with my detailed listing.
As I mentioned above, I like to use online resources to find a fair price. Once I’ve settled on an asking price, I list the RV across multiple platforms, including RV Trader and Facebook Marketplace.
Another option is to sell your rig on consignment.
Understanding RV Mileage
Something a lot of people don’t realize? RV mileage affects value differently than with cars. In fact, RV mileage impact is pretty minimal. Since RVs spend long periods parked, engine hours, maintenance history, and condition are what actually tend to matter more than miles. Because of this, you’ll want to make sure to stay on top of maintenance of your engine and transmission.
Not sure how many miles you should be driving? The average RV owner drives 5,000–7,000 miles per year. Keeping mileage in this range helps preserve value, keep the engine active enough to remain healthy and give you plenty of travel fun.
Try Before You Buy
When we bought our first rig, we went in blind, not knowing what to expect. We quickly learned lessons about what we actually wanted and needed in an RV. Because of this experience, I highly recommend trying out some rigs before buying anything. You can do this by renting an RV for a few days and taking a trip, or even just heading to a local RV show to tour RVs and get a feel for what staying in one might feel like.
Listing Your RV for Rent
Those costs of ownership I talked about at the beginning of the article? They can be a lot, but some RV owners offset those costs by renting their RVs out. If you don’t use your RV often enough but aren’t ready to part with it, this is something you might consider in order to earn income with your RV.
You can rent your RV through peer-to-peer platforms like RVshare or choose to go through a dealership. That said, peer-to-peer options typically offer higher income potential and direct control. Because of this, I’d go the peer-to-peer route for sure.
Preparing for Renters
Before renting out your RV, be sure you are properly insured and set a fair rental price based on market averages. You’ll also want to perform safety checks, clean thoroughly, and stock essentials such as kitchenware and linens. When you meet with renters, make sure to establish clear usage rules and provide a thorough walkthrough.
RV Owner’s Glossary
If you’re an RV beginner, you may be wondering what some of the terms mean. Here’s a quick guide to help you out.
- Boondocking — Camping without hookups (water, electricity, or sewer), usually on public lands or remote areas.
- Chassis — The base frame of a motorhome, including the engine, transmission, and wheels.
- Class A, B, C RVs — Categories of motorhomes:
- Class A: Largest bus-style motorhomes.
- Class B: Smallest, van-style RVs.
- Class C: Mid-sized with a distinctive cab-over design.
- Dry Camping — Another term for camping without hookups, similar to boondocking.
- Full-Timer — Someone who lives in their RV year-round.
- Grey Water — Wastewater from sinks and showers.
- Black Water — Wastewater from the toilet.
- Fresh Water Tank — Tank that stores potable (drinkable) water for use when hookups aren’t available.
- Hookups — Connections at campsites for electricity, water, and sewer.
- Full Hookups: Water, electricity, and sewer.
- Partial Hookups: May only include water and electric.
- Inverter — Device that converts battery (DC) power into household (AC) power for electronics and appliances.
- Leveling Jacks — Hydraulic or electric jacks used to stabilize and level the RV at a campsite.
- LP Gas (Propane) — Fuel used for cooking, heating, and some appliances in an RV.
- Slide-Out — A section of an RV that expands outward to create more living space when parked.
- Shore Power — Electricity supplied by a campground hookup, as opposed to onboard generators or batteries.
- Stabilizers — Devices used to reduce RV rocking or swaying when parked.
- Towable RV — RVs that must be towed by another vehicle, such as travel trailers, fifth wheels, and pop-ups.
- Fifth Wheel — A towable RV that connects to a special hitch mounted in the bed of a pickup truck.
- Tongue Weight — The downward force a trailer exerts on the hitch of the towing vehicle.
- Dry Weight (UVW) — The weight of an RV without fuel, water, cargo, or passengers.
- GVWR (Gross Vehicle Weight Rating) — Maximum allowable weight of the RV when fully loaded, including passengers, fuel, water, and cargo.
- CCC (Cargo Carrying Capacity) — The maximum weight of personal items and cargo you can safely add to your RV.
- DOT — Department of Transportation; regulations apply to RV safety and roadworthiness.
- Generator — A machine that produces electricity for RV appliances when shore power is unavailable.
- Tow Rating — The maximum weight a vehicle can safely tow, as determined by the manufacturer.
- Warranty — Manufacturer or dealer coverage for repairs and defects within a certain time or mileage limit.
RV ownership is amazing and has allowed us to enjoy travels we never could have enjoyed otherwise. That said, it does come with some extra responsibilities and financial commitments that require some balancing.
As long as you’re ready to take those things on and you really will travel in your trailer or motorhome, go ahead and buy the RV, learn the rules of the road, and get out there and have a blast. You won’t regret the memories made!
