Why swapping your home for a caravan could be risky

Aussie retireees are making the move to caravan living.

More and more retiring Aussies are trading in their homes and mortgages for life in a caravan but if you are looking at making the leap there are some key things you should know, according to experts.

The caravan sector is in the middle of a growth boom as cost of living pressures and the housing crisis force people to think outside the box for their living arrangements.

Many Aussies are leaning into caravan/motorhome culture as they give up their traditional brick-and-mortar homes to live life out on the road.

The move enables people to avoid rent or mortgage payments, as well as traditional utilities, while also seeing the country.

Baby Boomers are the biggest demographic taking up a caravan lifestyle.

Termed ‘grey nomads’, this group of retired Australians is continuing to grow, meaning more and more caravans and motorhomes are hitting streets across the country.

MORE: Home loan trap taking years to escape

Affordable Caravans owner Luke Weber is telling Aussies what to look out for in their potential caravan purchase.

MORE: What your home will be worth in 2030

But anyone investigating caravans, which can start from about $25,000 brand new, should be aware of what to look for.

The Affordable Caravans – Service & Repairs Facebook page said external sealing of caravans is the first thing buyers should get checked out.

“As we always do, we check around the whole caravan looking over things and trying to find anything else,” Affordable Caravans owner Luke Weber said.

“We got a vertical J-mould with a join right in the middle. It’s not written on any sort of paper that there shouldn’t be but you will never find a reputable builder or reputable repairer have a vertical joint on a J-mould so you’re just asking for a water leak.

“It’s a dead giveaway someone has done a dodgy repair so if you’re ever looing at buying a caravan go get it checked out by somebody.”

J-moulds are strips of plastic or aluminium trim used to seal external edges on caravans to ensure they remain waterproof.

MORE: Aussie couple in 30s turn $60k into $153m

Affordable Caravans owner Luke Weber is telling Aussies what to look out for in their potential caravan purchase.

MORE:Australia’s worst suburbs for mortgage stress revealed

Shaped like the letter ‘j’, J-moulds that are not installed properly can lead to extensive water leaks and damage.

Figures from the Australian Bureau of Statistics and Tourism Research Australia indicate there are more than 9.5 million Australians over the age of 50 and many of that cohort are taking up caravan and motorhome lifestyles.

Perhaps not a great thing for Aussie roads, the uptake of a caravan lifestyle could have a positive impact on the nation’s housing crisis.

Almost 70 per cent of empty nester households have no intention of downsizing and freeing up larger homes for younger families.

Extraordinary figures from Australian Seniors surveys shows just 19 per cent of empty nesters in Australia have already moved into a smaller property after their children moved out, while a further 13 per cent are considering it.

It is believed having those retirees downsize (or hit the road) would unlock almost 60,000 homes across Australia.

The post Why swapping your home for a caravan could be risky appeared first on realestate.com.au.