If 2021 is your year to purchase an RV, you may be surprised by how expensive these vehicles have become.
RVs have increased considerably in price in the last few years, and there are some specific reasons behind this.
The world of RVs has become quite popular, and there are more options than ever before.
The price that you pay for an RV is going to be still worth it, but you will have to understand why this is so expensive to help justify your purchase.
Choosing to purchase an RV is a big decision, and you will have to be sure that you are ready for this next step in your life.
Let’s take a look at why an RV is so expensive and how you can potentially save a bit of money on the purchase of an RV.
Why Are RVs So Expensive
1. Supply And Demand
The Covid pandemic has led to a significant increase in the number of people who are looking to purchase RVs.
The RV allows you to continue to travel while staying in the safety of your own home on wheels.
In addition, the RV has been an eye-opening experience for many people who want to see more of the country.
Anytime that the demand for a product increases, the supply becomes more difficult.
With more and more people realizing that they want to try full-time RV life, it has become difficult to secure an RV.
Many people are waiting for a year just to have their order fulfilled, and this is increasing the total price of the RV.
Supply and demand is a marketing principle that has been in effect for hundreds of years.
The more that people want an RV, the more expensive these are going to get.
There is not much that can be done about the pricing of an RV and how much supply and demand there is.
When fewer people are interested in an RV, it will be a better time to buy.
However, this is not always something that you will have control over.
When you are ready to buy an RV, you can’t control the supply and demand that exists in the marketplace.
If you can wait to purchase an RV until there are plenty of extras waiting for you on the lot, you can expect to get a much better price.
The purchase price of an RV is not the only thing that will be expensive about owning an RV.
As you likely know, an RV will have an engine attached to it so that you can drive.
The RV is convenient because you don’t need a truck or a van to pull it.
You can simply drive the RV around from one area of the country to another.
Although this is convenient, you will have to come up with quite a bit of money to fuel the RV.
Filling up at a gas station with your RV is going to be quite a bit different than fueling up a small car.
Fueling an RV is only starting to get more expensive as the pricing of fuel continues to go up.
If you take any kind of road trip, you will have to plan for your fuel costs, but with an RV, the overall costs are going to be quite a bit higher.
When you start planning out the trips you are going to take, it’s important to think about the fuel costs and how they will incorporate into the cost of the RV.
3. Cheaper Than A Home
Although an RV is expensive, you must also consider the act that most RVs are less expensive than a home.
You can get some great features in an RV and have much less to pay for, simply because you do not have to purchase the land as well.
The real estate market is volatile right now, and some buyers are getting tired of playing the game to try and purchase a home.
Sometimes, there are multiple offers on a home just hours after the home goes on the market.
This has increased the price of some of the motor homes on the market.
With people looking for a place to live and homes being so difficult to get, the RV comes up as a great alternative.
It is essential to consider that the RVs are cheaper than a home, even though this will not decrease the overall price.
Sometimes when people are ready to purchase a vacation home, they will choose an RV instead, and it will help to decrease the out-of-pocket expenses.
In addition, you can have your RV with you at all times, so you won’t have to worry about issues that go on with your home while you are not there to watch it.
Don’t get discouraged by the price of an RV until you compare it to the cost of a home.
Chances are you will find out that the RV is not necessarily that bad of a deal.
4. Ability To Move Easily
Have you ever loved your home but felt like the neighborhood was no longer a good fit for you?
With a traditional home, you will not be able to do much about this issue aside from moving.
However, with the RV, you can easily drive to a new area.
Those who want this kind of flexibility in their lives will love the benefits of the RV and all that it has to offer.
However, this flexibility and ability to move from one area to another will increase the price of an RV.
This is considered to be a key feature of the RV, and therefore, it makes sense to purchase one sometimes as opposed to a home.
Think about being able to live on the west coast of the United States one week and the east coast the next.
There is quite a bit of value in this, and it is something that you should consider when looking at the high price of an RV.
Once you find your favorite places to bring your RV, you will be impressed with this feature and the ability to move from one location to the next.
The next time the cost of purchasing an RV bothers you, consider the fact that you are essentially purchasing a home in several different locations all at once.
5. Hold Their Value
Another reason that RVs are so expensive is that they are going to hold their value.
Typically, something that will hold its value long term is going to have a higher initial cost.
When you purchase an RV, you can expect that you will have this as an asset for many years.
In addition, when it is time to sell this asset, you will still be able to get quite a bit of money for it.
RVs are known for holding their value for a long time.
In fact, if you are looking to purchase a used RV, you are going to notice that the pricing is almost as high as it is for a new RV.
If an RV has been well taken care of, the pricing for a used one is going to be almost as high as it is for a new one.
One of the things that people find so appealing about the RV is the fact that you can work on them, upgrade them, and fix them up.
This does not really apply to a car, as cars tend to depreciate in value at a much faster rate.
With the RV, you can expect that the overall value is going to continue to go up as long as you are taking care of the RV and that you are keeping it in great shape.
As new technology is added to the market and you are able to upgrade your features and functionality on your RV, you can expect to get your money back when you sell it.
The fact that the RV holds its value certainly helps to make the initial cost of these quite a bit higher than they ever were.
An RV can be completely customized to fit the needs of the family that will be using it.
It’s important to understand that these customizations that can be done to the RV will significantly increase the cost you pay for it.
Customization is something that most RV owners won’t want to go without.
If you are not able to customize your RV, you will potentially find that you are not as comfortable in the RV.
Similar to when you go to purchase a car the RV will come as a very base model with not too many features and benefits.
For those who like to do their own customization, this is fine.
However, most people are going to look for an RV that is going to have lots of custom features and functionality.
Customization is important to ensure that you can properly drive and use the RV the way that you want to.
Think about purchasing an RV that has all of the basics but does not have the appliances or even the cushions that will go on the sofa or the dining table.
Without these features, you are not going to be nearly as comfortable in the RV.
One way to get around this is to budget for a certain amount of customization before purchasing your RV.
You will have to know that any of the special features you want are going to be extra money.
Plan for this before your purchase so that you have the budget necessary to get the exact fit that you need in your RV.
Of course, there are some things that you are going to be able to do without, but you must be sure to budget for the things that matter to you most.
The customization options for an RV are only going to continue to improve as years go on.
Keep this in mind and always think about ways that you can be improving your RV.
7. Brand Name
Certain brand names will stand out among RV owners and potential owners.
Some of these brands have been in the industry for many years, and they are known for their impressive customer service and product offerings.
Typically speaking, these brand name options are going to offer customers a long warranty and tremendous service.
If your RV breaks down and you have purchased from an impressive brand name in the industry, chances are there will be lots of service options located across the United States.
Of course, you do not need to purchase a brand name RV, but most RV owners are tempted or pulled toward one specific name or another.
Brand name RVs are going to be more money than an RV that does not have a brand name associated with it.
Think about the fact that an RV manufacturer had to work for a very long time to establish its presence in the industry.
They have spent years building a positive customer reputation and showing the RV community that their product is truly one of the best out there.
This process takes time, and it takes quite a bit of money.
This is why the brand name of a product will increase the price of the RVs so much.
For all the time and work that the brand name has put in through the years, plus the power of that brand name for you, the overall cost is going to increase considerably.
8. The Great Outdoors
The RV provides people a window into the outdoors.
For those who want to spend more time outside, the RV is a great way to encourage that.
Most of the places where you can park your RV are going to revolve around outdoor activities.
Not to mention the fact that an RV is going to have a limited amount of indoor space.
The RV is meant to provide shelter from the rain and a place to eat a meal and to sleep.
Most of the people who purchase RVs are looking to spend quite a bit of time outdoors and enjoy this with their friends and families.
If you like hiking, running, skiing, golfing, and exploring the outdoors, an RV can provide you with this opportunity.
Of course, you have access to all of this even if you do not have an RV, but the overall options are increased greatly with the purchase of an RV.
There are many places in the United States that will be on the bucket list of the average person.
However, if you have an RV, you can simply pull into a park, get the RV set up, and enjoy dream-like views and time in the outdoors.
If this kind of lifestyle appeals to you, be prepared to pay a bit extra and enjoy the RV lifestyle.
To stay at a resort where you can get the views and the access to the outdoors that an RV resort offers would cost you thousands of dollars.
RV owners will get a very reduced nightly rate for simply parking and hooking up the RV.
9. Special Features And Technology
If you have not been inside an RV in a long time, you very likely have underestimated the technology that these RVs have available.
The inside of an RV can very often feel like a resort or high-end hotel.
All of the modern technologies and conveniences that you have in your current home are going to be available in the RV.
The kitchens will have full functionality, and you can even have full showers and bathtubs in some of the RV bathrooms.
The great thing about some of these RVs is that they can be customized to your needs and desires.
Therefore, if you are serious about lighting, decor, or storage, you can work all of that into your design.
As great as these features are, expect that the pricing is going to go up considerably.
Special features and technology are important to have, but they can very easily set you over your budget and end up making the dream of RV ownership unaffordable.
As great as these interior features are in your new RV, the exterior features and safety options are just as important.
Remember that driving an RV can be a bit difficult to get used to.
These are very large vehicles that take some time to learn to drive and maneuver.
The camera systems that are going to be installed in the RV will help make it easier to drive, but they are also going to cost more money and take some upgrading and maintenance through the years.
As RVs become more complicated, they are also getting more expensive.
If you really want to keep things simple, look for an older RV that allows you to fix things up on your own budget.
10. Long Time To Manufacture
Last but certainly not least is the fact that RVs take a long time to manufacture.
As you can imagine, an RV is going to need quite a few different specialists to put this model together and get it in a condition that is ready to be delivered to the end user.
Think about how when you build a home, many different contractors need to come in and get their part of the project all finished and prepared for the final release.
Many people assume that building a house is going to take a year or more.
However, with an RV, you will have to deal with many of the same issues.
When working with an RV, there are still plumbing and electrical systems that need to be installed.
In addition, there are issues with water sealing and even safety and protection.
In the end, this is also a vehicle that is going to need to travel on a road, and that will increase the number of issues that need to be dealt with.
The RVs take a long time to manufacture, and because of that, you can expect the pricing to be quite a bit higher.
The labor and time that is put into building an RV are extensive.
As this all is taking place, the RV is stored in a building, and it is protected from damage.
When you purchase your RV, you will end up paying for the time it took to manufacture and its storage before you were able to purchase it.
These are, of course, numbers that were built into the overall pricing of the RV but still something to consider.
The next time you question why an RV costs so much money, maybe some of these concepts will come to mind and help you understand the reasoning behind it.