April 2022 – Reuters releases a staggering report that the median home price in the US has soared over 19% from where it was the previous April. The report goes on the say that the median home price is a whopping $450,600! The American dream of home ownership is now out of reach for the majority of people.
In the following months as inflation increased almost exponentially and the amount of new homes available for purchase on the market continued to drop, the Federal Reserve raised interest rates in an attempt to reduce inflation. Lastly, to add insult to injury, a report from HouseCanary found that rent prices for single-family homes increased 13.4% nationally over the last year.
So is there hope left for the American dream of home ownership? We at Carolina Van Builders say “YES! Absolutely”! Our proposed solution? Tiny living! Or, more specifically, the van life.
More and more people are choosing van life as a way to stay out of debt, avoid large mortgage and rent payments, the rising cost of utilities, and enjoy the freedom of a more nomadic lifestyle. Now with the option for many to work remotely, it’s easier than ever to make van life work for you.
Van conversions here at CVB start under $34k and a new ProMaster van will run you anywhere from $44-54k off the lot. $78k total for a new, quality built home sure beats almost half a million dollars!
In addition to the cost savings of a van conversion verses purchasing a traditional home or renting an apartment, tiny living and the van life can save you money in lots of other areas. Since we build all our van conversions with maximum efficiency in mind, many of our vans utilize solar power and are small spaces that don’t take much to heat and cool. When your home is also your vehicle, you make one insurance payment instead of two. The temptation to spend money on excess clothing, home goods, food, etc. is reduced because each purchase must be carefully thought out to ensure it will fit in your space. If you think about it, the list of cost savings goes on and on.
It’s 2022 and home ownership comes in all shapes and sizes. These times have forced us to get creative and we think that van life and tiny living is an excellent solution to the home affordability crisis we’re facing. With this in mind, we’ve made it easier than ever to get your project rolling. Check out our semi-customizable van packages here, and then head on over to our estimator tool and receive a free quote for your perfect van build. After you’ve dreamed and schemed, contact us so we can make your dream home on wheels a reality!