Recently came across an old Airsteam and have become obsessed with the idea of fixing it up nice so we can ditch our $1400 a month, tiny, crappy one bedroom apartment. Please tell me how bad an idea this is (or surprise me and tell me it's not?).
Details:
- 1975 Airstream Sovereign 31'
- Seems like I could get it for around $5k or less
- Has been sitting for 10 years
- Weighs 7100 lbs, unloaded
- No visible water damage inside, interior looks clean (however dated)
- I am handy, and work at a fabrication facility where I could probably park it while I renovated, using all the shop's equipment.
- That said, this would be my most ambitious undertaking yet
- I am imagining spending around $10k renovating - the only part I won't do myself is replacing the tires, axles, brakes
- I am imagining that after the initial investment we would save a ton of money on rent (at least cut in half), and could sell it at some point for a profit, or use it as an AirBnB when we buy a house in several years
- Despite the costs and knowing virtually nothing about living in a trailer, I am convinced this is a financially smart idea
- Though I did live on a sailboat for a while as a child, and that was sweet
- We would be forced to tear down our possessions to the absolute minimum, which is scary but exciting
- "We" are my fiancee and I, hello!
- We will not have children for 5 years, but currently have two cats
- Located in Southern California/Central Coast but will relocate "back East" within 2 years
- Near the beginning of our FI journey ($60k saved)
- I can't stop thinking about it!
What could go wrong? (: