As housing prices have rebounded across the country since the disastrous free-fall after 2007 and 2008, many people have been struggling to meet the
“new norm” in the cost of home ownership. No matter how much money people save for their down payment or what income they earn, the price of housing is blocking many people from entering the market.

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So what can families, retirees and others do to tackle the high cost of owning a home? Surprisingly, especially in areas of the West Coast, they’re turning to living in a conversion van.

There’s A New House on the Block

The fact is, that new house on the block isn’t your traditional home. It’s a van conversion.Nowhere is this more evident than in high rent cities like San Francisco.

And while they’re not exactly inexpensive, van conversions are certainly considerably less than the half-million dollar starting price tag for a home in the various bedroom communities located close to major Bay Area cities. On top of that, many buyers are now bidding hundreds of thousands of dollars above the asking price, pushing many people out of the housing market completely. In the San Francisco area, for example, only 12% of the population can afford to buy a home.

Renting an apartment can be equally as prohibitive. One-bedroom rentals in San Jose, for example, are over $2200 a month. That’s helping to fuel the desire to transition to the van life. And people are converting everything from a van or RV to school buses, a truck and even in some cases, an ambulance.

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As for pricing, buying a cargo van is around $50,000, depending on whether it’s purchased new or used. Add another $15K to $20K to convert it to a livable space, and you can see why it’s a far more attractive option than a traditional house.By living in a van, people aren’t spending the bulk of their income on housing.

And that’s just for starters. Some baby boomers are now retiring to live the van life. They are embracing a luxury approach, converting RAM ProMasters with the amenities that you’d find in a well-appointed home.

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Living the Van Life

Speaking of living the van life, it’s not only about finding an alternative to exorbitant housing prices. Many solopreneurs are opting into the van life to travel the country, having the ability to park their van conversion at a national park one night, and travel on to a new destination the next morning. Most importantly, this nomad lifestyle is available to just about anyone who wants it.

Some of these conversion van interiors are stunning! Well-appointed kitchen and bath areas, bedroom and living quarters are outfitted with upscale materials and a variety of amenities that give the impression of living in a tiny version of a luxury home.

Many continue to work from their van conversions as well. With a good Wi-Fi connection, a laptop and a drop-down work desk in the kitchen area, they’re all set to take on the day. They include computer programmers, personal chefs, graphic designers, project managers - in fact, just about any job you can imagine. They either manage to work from home at their current employer or they run their own businesses from their home on wheels.

Leave the Conversion Work to Professionals

Just a word of caution to those who think they’re handy and think van conversion is not too complicated.

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Many people think a DIY van conversion can save them lots of money. The problem is, it requires a large set of technical skills, including plumbing, electrical, carpentry and design abilities to get the outcome they envision. Considering the downside of a poor electrical or plumbing job, it’s much better to leave the work to professionals who do van conversions full time.

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Image credit: Robin Tobin via Flickr

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FR Conversions is a Maryland-based firm partnering with Fiat-Chrysler, Ford and other leading manufacturers to convert what they build into a vehicle that meets the demands of millions. ‘Driven by innovation’ means finding new ways to give you more for less. Wider ramps, more features, conventional and creative financing options and more.

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