I’m working my way through answering some basics about our upcoming RV trip, namely, the what, when, where, why and how questions I know you’re asking yourself. Don’t worry, I asked myself the same things.
When my husband James mentioned the idea of taking a year-long RV trip, I knew this was something we’d have to plan. After all, there are so many details to think through, so many things that have tied us down.
Before I could confidently disclose our trip publicly, I funneled my excitement into a quest for minimalism, reading every blog and article I could find to learn not just how to pare down all our stuff, but how to shift my mindset so that stuff was no longer a priority. We donated bags and bags of clothing to a local thrift store, and I also gave a ton of stuff to a friend who held a yard sale fundraiser. Even with these loads of belongings gone, we still have so much to purge before moving into a 400-square-foot (or less) RV.
A couple months after our decision to work toward this RV trip, an opportunity arose for James to sell his CrossFit gym. His business was one of the bigger pieces of the puzzle that we weren’t quite sure what to do with, so when the sale went through at the end of 2015, a huge weight was lifted (pun intended!).
Now, the biggest remaining obstacle that will impact when we hit the road is the selling of our home, which we will have inhabited for three years come spring. We have a few house projects we want to tackle this winter, then we plan to put the house on the market in early spring. From there, it’s hard to say how long it will take to sell. It could be a couple weeks or a couple months, and however long it takes, we have to be prepared.
Once we hit the road, we’ll have roughly a year. I was under the impression that we have a year to reinvest any profits from our home before being taxed on capital gains. But the more I research, the more I’m finding that the law has changed and so long as we’ve lived in our home two years and aren’t profiting more than $500,000 (not even close!), we won’t be taxed. Does anyone know the details?
But regardless of the tax law, our oldest son James Michael is due to start kindergarten in August 2017. So we will need to come back to settle down before his first school year begins.
The timing of everything has worked out perfectly thus far, but we still have a long few months to go before we hit the road.