Recreational vehicles and mobile homes are no longer reserved for horrific family vacations when you were younger, now they’ve become suitable for millennials to live in.
According to CBS News, millennials are turning mobile homes into actual homes where the cost of living is affordable, and provides the leniency of travel. This follows a trend that started in 2016 known as “glamping.”
Eric and Mia Hartmann bought an RV and moved from Nebraska to a Connecticut campground for Mia’s job as a traveling nurse. They spent between $40,000 to $50,000 on it, which may seem like a lot.
“You can get your payments down to like $170 a month,” Eric told CBS News. And with a 10-year bank loan, payments can be as low as under $200 per month. For many millennials having to shell out entire paychecks for rent, that’s a huge chunk of change you can keep in your pocket.
And it’s not like you’re living frugally. A lot of the RVs they’re producing now include retractable TVs, electric fireplaces, solar panels, and, most importantly, built-in Wi-Fi. It’s a huge draw for millennials, and it’s also helping boost the mobile home industry.
Jeff Runels, president of Keystone RV, which is a subsidiary of the world’s largest manufacturer, said that mobile home sales are up 20 percent this year, and that he recalls they produced 42 RVs in one day.
“We’re expecting it to be just as high, if not higher, next year,” Runels said.
He continued to explain why RV’s might be the perfect solution for millennials who don’t want to move into their parents’ basement. “They’re just getting into the workforce for the first time, an RV is a great way to travel and decide where you want to settle, save some money, because it is a very affordable lifestyle, and then set up your life from there.”
It may seem unconventional, and commuting to a big city might be tougher, but, for millennials, cash rules everything around us. So, while millennials are killing every other industry, know that the RV business is alive and doing better than ever.