Emma Orlando was determined to break into the property market but realized she would never save enough for a deposit if she was spending around £1,000 a month on rent. That’s why she took a dramatic step three years ago.
“I moved into a motorhome to reduce my costs,” says the 28-year-old.
“It took just over three years of living and working to save a £50,000 deposit for the house I have now bought in Newquay in Cornwall.”
Emma equipped her van with the help of a friend and watched online videos on how to do it. She also continued her work as a freelance marketer, using the Wi-Fi installed in her van.
Vanlife: Live footage in RVs has become a social media staple in recent years, but for some aspiring first-time buyers, living in a van is a way to save on a deposit
“I stayed at a campsite in Cornwall with beautiful sea views that cost £300 a month.”
When the van was finished, Emma’s costs were minimal. She says the cost of running the van was no different to that of a car and included road tax and filling up with diesel.
The dream of owning a home is slipping away for first-time buyers as mortgage rates rise and wages fail to keep up with rising property prices.
According to estate agent Zoopla, the average deposit for first-time buyers is now £34,500 – a sum few can achieve without family help. As a result, would-be first-time buyers are being forced to adapt, with 700,000 more adults living with their parents than a decade ago.
And a small number choose to live in an RV to supplement their savings. The increasing prevalence of remote work is making it an increasingly popular option as many employees are no longer tied to their workplace. Many like Emma choose scenic destinations.
The National Caravan Council, a UK trade body for caravan owners, says motorhome sales have risen steadily since 2013 and peaked during the Covid lockdowns.
Spokeswoman Rebecca Hutton said: “Due to rising rents, the lack of affordable housing and the rising cost of living, there are reports that some people are choosing to purchase a motorhome, caravan or motorhome as an alternative to more traditional living arrangements.”
Amy Nicholson says living in a van has drastically reduced her expenses
Amy Nicholson moved into a van two years ago after living with her parents in Kent. The 36-year-old says: “I lived with them for much of the pandemic and my mental health wasn’t great.” So I decided to sell my car – my only asset – and buy a van to gain some freedom have.”
With her parents’ help, Amy converted an empty van and even installed solar panels for power, all under the watchful supervision of her mother’s dog, Indie. “Before I moved in with my parents, I was spending £1,200 a month on rent and bills for a flat in Kent,” she says. “So I save a lot.”
With the solar panels, Amy only has to pay for gas for her stove (around £40 a year) and overnight stays at the campsite. The lower costs mean she has saved enough to buy and renovate a cottage in Newquay – with a little help from her parents.
Equipped: Lewis Nyman and one of his vans, which he rents out as a business – he lived in another to save money
Lewis Nyman has also managed to increase his savings. He had been paying £750 a month to share a house, then more than £1,000 a month to rent a flat in Brighton.
But thanks to living in a motorhome for the last few years, he has accumulated £25,000 in savings.
Lewis, 36, now rents out a fleet of electric motorhomes in Brighton as a business. Like most people who have adopted this lifestyle, he finds it ideal in the summer – and harsh in the winter.
He says: “For a year it was minus three degrees in the van and it was so cold that the petrol ran liquid. “I couldn’t even turn the heater on.’
Now that he is able to work remotely, he plans to travel to Spain or Portugal in the colder months.
Robert and Mariona Bolohan, aged 29 and 27, moved into a van more than a year ago after struggling to save for a deposit on a house.
However, they find they like the lifestyle and manage to run three web-based branding and translation businesses from the van, saving up to £2,000 a month.
So you are in no hurry to move out. “When we sell the van we will have a deposit of £65,000 to invest and renovate in a property in our home country of Catalonia, Spain,” says Robert.
This is the Money Podcast
Some links in this article may be affiliate links. If you click, we may receive a small commission. This helps us finance This Is Money and keep it free to use. We don’t write articles to promote products. We will not allow a commercial relationship to compromise our editorial independence.
