Finding Short Term Housing vs. Living in an RV as a Traveling Healthcare Provider

*This is a Guest Post that Whitney wrote for Furnished Finder where she discusses the differences in housing options for travel therapists, including some of the pros and cons of each! This post should be helpful to those of you trying to decide what’s the best housing choice for you as a travel healthcare provider!


Finding Short Term Housing vs. Living in an RV as a Traveling Healthcare Provider

One of the major concerns for many healthcare providers looking to pursue travel careers is how they will set up housing. There are many housing options out there for those of us who travel for work, from using sites like Furnished Finder to secure short-term furnished housing, to having the travel agency set you up at an extended stay hotel, to choosing some form of tiny living on wheels like an RV!

During my 5 years as a traveling physical therapist, I have utilized a few of these housing options and have had the opportunity to weigh the pros and cons of each. (And let me tell you, any option is going to have pros and cons!)

So let’s dive in to some of those pros and cons to considering these different options for housing, and maybe some of my insight will help you along your own travel healthcare journey!

Logistics and Considerations

When you’re considering what option to choose for housing, you will first need to take into account your own personal situation. Are you traveling solo, with a significant other, with children, or with a pet? Do you feel comfortable sharing accommodations or would you rather have your own place? If you’re thinking about tiny living/RVing, do you feel comfortable with the maintenance and upkeep involved with owning a home on wheels, plus towing it around the country?

In addition, you need to consider the location of your potential travel contract(s). Are you interested in traveling to big cities or more rural places? Some quick internet searches can reveal a lot for you as to how easy or difficult it’s going to be to secure short term housing on your own vs. having the travel company assist you with the process. It will also give you an idea of whether finding campgrounds/RV parks in the vicinity of where you might travel will be feasible.

For me, I am a traveling physical therapist and travel with my significant other who is also a traveling physical therapist, so after weighing lots of options, we decided to buy a camper and lived in it for about 3 years! This worked well for us overall as a pair, rather than finding short term housing for the both of us; however, we did end up renting a short term furnished place on a couple of assignments. More on our journey below and how we chose between short term housing and the RV life!

Company Provided Housing

This is actually the only housing option I have not utilized. Generally speaking, it seems that most travel healthcare providers choose to accept the housing stipend from the travel agency and then set up their own housing, rather than letting the company handle housing. There are some travelers who choose to let the company set up housing for them though.

I think generally the best time to let the travel company set up housing for you is if in the area where you’re traveling, you are having a lot of difficulty finding housing on your own, or you are short on time to be able to set this up yourself. Also, some travelers may just find it easier to have this weight lifted off their shoulders and let the company handle it.

The pros of letting the company set up housing for you would be that you have less worry and headache in getting the housing set up. You also probably won’t be on the hook for any rent/lease issues, in case your contract gets cancelled early. However, the cons are that, you may have less control over your accommodations, and you may end up losing money on your weekly pay because they take out a lot for housing instead of giving you the housing stipend!

Finding Short Term Housing On Your Own

I would say this is the option that the majority of travel healthcare providers choose! In your pay package, you will have the company allocate part of your pay as a housing stipend (hopefully tax free if you qualify by maintaining your tax home– hooray!). Then you will utilize different websites, like Furnished Finder; ask around in online forums and groups; call realtors and apartment complexes; and so forth until you can identify some good short term housing options!

The pros here are that you can usually find housing that’s cheaper than what the travel therapy company would take out of your paycheck, so after you pay your rent, you should come out ahead by keeping the extra money! (Who doesn’t like extra money?!) You also have more control over choosing your accommodations, such as proximity to work/attractions, as well as how many bedrooms/bathrooms, and other amenities at the accommodation!

Cons are that it is sometimes difficult to find places that offer short term rentals near where you’re going to be working. I’ve definitely run into this in the times that I had to search for short term housing. A lot of apartment complexes and personal ads for housing do not allow any shorter than 12 month leases. Also, lots of the places you find won’t be furnished or have utilities included, which leaves you with another problem to solve.

I will say that Furnished Finder has solved a lot of these problems for us. They only list places that offer short term leases (or even better, month to month!) for us as healthcare travelers. And all of their listings are already furnished. I can’t stress how much hassle this removes in terms of setting up leases, getting stuck in leases if your contract is cancelled, setting up utilities, and furnishing a place for only a couple months!

But, unfortunately there is never a guarantee that a property on Furnished Finder will be available for the location and dates that you need, so alas we must sometimes use the other options like Craigslist, Airbnb, VRBO, apartment complexes, extended stay motels, realtors, etc!

In my experience, I’ve rented two different places I found off Craigslist for two different assignments. Both were semi-private, meaning that they were part of someone’s home, but we had our own “suite” if you will. One was an over-the-garage studio apartment, but we had to share the kitchen and laundry in the main house. The other was a fully furnished basement with our own kitchen, but we had to enter through the main door and share the laundry upstairs. Overall these were good experiences, and we were very lucky to find furnished, short term rentals, with utilities included in the price, on Craigslist! Because Craigslist can definitely be hit or miss, and sometimes sketchy!

But unfortunately during our searches, we did find that there were extremely limited options for short term housing in the areas that we needed, with the criteria we wanted in an accommodation. When searching for short term housing as a traveler, you are definitely at the mercy of what’s available. So sometimes you’re either going to have to skimp on your ideal setup, or raise your budget, or possibly both.

Another consideration when choosing to set up short term housing as a traveler (whether on your own or with the company’s help), versus choosing an RV, is packing and moving often. This was a big thing we were trying to avoid by buying an RV. In an RV, you always have all your stuff with you, so you don’t have to constantly pack and move in and out of places. But, those travelers who do choose short term housing (again- the majority of travelers) do end up becoming pretty good at packing their cars and being minimalistic! And although it can be a headache sometimes, it’s just part of the traveler lifestyle and you get used to it!

Tiny Living or RV Life

Tiny living, van living, and RVing are definitely becoming more popular options for traveling healthcare providers. There is certainly some appeal to having your own home on wheels with you all the time, and traveling from place to place. To be honest, a lot of RVs now are just like little apartments, and you are by no means “camping outdoors” when living in an RV! However, tiny living is very much a lifestyle choice and not to be pursued by just anyone! It’s difficult to even compare it side by side with the alternative short term housing options, because it’s so different! I recommend not looking at this like option number 3, but like taking a left turn and pursuing a completely different path!

We chose to buy a camper pretty early in our travel PT careers, and there were several reasons why we thought this would work out better for us.

  • First, we thought it would make life easier to leave all of our stuff in the camper and just move it from place to place, without having to always pack, move in, and move out of places every 3 months or so!
  • Second, we thought finding campgrounds/RV parks would make the housing location search a lot easier than finding short term housing accommodations.
  • Third, we thought we would save a lot of money by buying the camper, staying cheaply at campgrounds, and then selling the camper when we were done.
  • Fourth, we thought it would be a cool adventure!

All of those were true, to some extent. However I don’t think it was exactly the all-around-perfect life choice that we envisioned when all was said and done.

Not having to pack and move all the time, and having all of our stuff in the camper with us all the time, was for sure a huge perk! We only had to do minimal “packing up” each time to make sure things didn’t fall down inside the camper. We could usually easily load up and move to a new place (if it was within driving distance) on a weekend, then get set up within an hour or so at the new place, and be back to work on Monday if we wanted!

The campground/RV Park finding process was easier than short term housing to an extent. However, it does sometimes limit the locations you can travel to. For example, it’s not as common to see RV Parks that allow long term (month to month) stays near bigger cities. We had pretty good luck finding them in suburban and rural areas, but it did limit us from going some places. The way we maneuvered this was, when presented with a potential contract to apply for, we instantly did a quick Google search to see if there were even any RV parks nearby before we submitted our applications for the job. That part made it a little more feasible. Because as compared with short term housing, you can’t always do a quick search to know whether there are places to rent readily available for the dates you need, before submitting for the job.

Financially, having the camper usually saved us on our monthly rent costs, with most campgrounds we stayed at costing between $300-900 per month. Whereas depending on the area, short term rentals could run you anywhere from $500-2500 per month! But, with an RV, you still have to account for the upfront cost of buying an RV, the costs for maintenance and repairs, and the depreciation on the vehicle if you plan to sell it afterwards. When all was said and done after factoring in these costs once we sold it, we probably about broke even over the course of 3 years. If you planned to keep it for shorter than 3 years, you’d most likely come out behind financially based on our calculations.

As far as adventure goes, it was certainly a fun experience and something we will be able to talk about for the rest of our lives! But it’s not for everyone. The part we didn’t really take into account were the maintenance and repairs. It’s like owning a house, but one that’s on wheels, with little parts that can break, and you can’t always easily find the part to replace or a repair person who knows how to fix it like at a normal house!

All in all, we are glad we chose to do the RV life for 3 years. But it did not come without its hassles and headaches. In the end, we were glad to sell it and not have the responsibility anymore! So this is a huge thing you need to take into consideration for yourself. Are you going to be the type of person who wants to maintain and upkeep your home on wheels? Or would you rather just rent short term housing and not have a place to worry about all the time?

What Type of Housing Is Best for You?

So what’s the best choice for housing as a traveling healthcare provider? I don’t think there’s one answer to this question. You really have to consider what type of person you are, and what you’re comfortable with. As I mentioned, most travelers will choose to go with short term housing and set up their own accommodations. But there’s always the option of letting the company set up housing for you for an assignment and seeing how that goes. Or if you’re feeling really adventurous, or already know you like the camper lifestyle, maybe you decide to jump into RVing/Tiny Living, but just make sure to do your research before making any big purchases!

I hope this information has been helpful to you in terms of deciding what types of housing will be best for you as a traveling healthcare provider! Happy Travels, and enjoy the journey!

 


Written by, Whitney Eakin, PT, DPT, ATC

Whitney has been a traveling physical therapist since 2015 and travels with her significant other and fellow Travel PT, Jared Casazza. Together they have a personal blog titled “Fifth Wheel PT,” which got its name from their 3 years traveling and living full time in a fifth wheel camper! Whitney and Jared have traveled for PT work up and down the east coast, and in their time off between contracts have traveled all over the world! Together with Jared, Whitney also mentors current and future travel therapists at their website TravelTherapyMentor.com. You can follow their travel journey on Instagram or Facebook @TravelTherapyMentor.

What is Financial Independence and Why is it Easier to Reach as a Travel Therapist?

It’s been over a year now since I reached financial independence at the age of 30, and getting to that point at such a young age is due in large part to choosing to pursue a career in travel physical therapy as a new grad.

Originally when Whitney and I started traveling, I laid out a rough outline and projected it would take me about 5 years of working as a travel PT to reach financial independence. But, surprisingly, I was able to both make more and spend less than I anticipated, which sped things up significantly.

Even though my story and path to FIRE (financially independent retired early) is unique, it didn’t require anything particularly special to be done. I think my journey to financial independence can definitely be replicated by other travel therapists.

The keys to reaching financial independence as a travel therapist were:

    • living frugally
    • hustling to make as much money as possible
    • investing money intelligently

What is Financial Independence Retire Early (FIRE)?

Essentially reaching financial independence is getting to the point at which it’s possible to cover all of your living expenses with only investment returns (or other forms of passive income) indefinitely. At that point, work becomes optional since the income from work is no longer needed to sustain your financial life.

Once financial independence is reached and work becomes optional, many people choose to retire early. I personally have only worked 10 weeks as a physical therapist in the past two years, since I’d rather spend time traveling internationally and working on other interests than to work with patients at this point in my life. It’s not that I never plan on working as a therapist again, it’s just that I no longer have to; and I am choosing to do other things with life right now. I enjoy helping people in a physical therapy capacity, and will likely do some sort of part time work as a PT in the future, but any money earned from it is just icing on the cake at this point.

How do You Determine When You’re Financially Independent?

Most people have no idea how much money they need to reach financial independence and retire. This is a problem because many people, myself included, are motivated by setting and achieving goals. How do you set and strive to reach a goal of retiring when you have no idea how much money is needed?

This is where the 4% rule comes in. The 4% rule is a research-backed method for determining how much money is needed to reach financial independence. Basically, when your invested assets reach a level where you can cover a year’s worth of expenses while withdrawing only 4% of your investment portfolio, you’ve reached financial independence. Even though average equity returns (taking into account the history of the stock market) are in the 8-10% range, there are periods of time when returns can be significantly lower than that, so planning to withdraw 8-10% from your portfolio per year can easily lead to running out of money before you die. At a safer withdrawal rate of 4% per year though, running out of money is very unlikely, assuming that your money is invested wisely.

An easy way to determine how much you’ll need to retire is to use the inverse of the 4% rule, by taking your yearly expenses and multiplying by 25. This is exactly how I figured out what net worth number to shoot for to reach financial independence back in 2015 when I started working toward FIRE.

Traditional financial planning usually involves calculating your retirement number based on your yearly income rather than your yearly expenses. But this just doesn’t really make sense. The true number you need to focus on to figure out your retirement, or financial independence, number, is how much you actually spend each year, and therefore how much money you need to live on for a year. In order to figure this out, you’d need to track your expenses for a few months or a whole year to get a good estimate of how much you actually spend in a year.

Since your financial independence goal number is determined by expenses, reducing monthly/yearly expenses is the easiest way to reduce the amount of time to get there. This makes your savings rate vital!

Why Strive to Achieve Financial Independence?

Everyone has their own reasons for trying to reach financial independence. It could be to spend more time with family, to take long trips overseas, to spend more time working on hobbies, as well as a variety of other reasons. For me the biggest reason was to have as many options as possible. Reaching financial independence meant that I can now pursue whatever it is that piques my interest at any given time. I’ve found over time that my interests change often, and having as much time as I want to pursue new interests when they arise is huge for me.

Why is Reaching Financial Independence Easier as a Travel Therapist?

There are several reasons why I believe that reaching financial independence is easier as a travel therapist compared to therapists working permanent jobs. All of the factors below directly contributed to my success in reaching financial independence so quickly:

  1. Higher income:This is the most obvious reason and the reason why many therapists choose to travel in the first place. Most travel therapists can expect to earn between 1.5-2 times as much money after taxes compared to a therapist working a permanent job. The more money a therapist is able to make, the more they’re able to save to reach financial independence more quickly.
  2. Becoming a minimalist:As a travel therapist, getting used to living with less is important. Packing and moving is always difficult, but it gets more difficult the more stuff you take with you to each assignment. Whitney and I both progressively became more minimalist the more travel assignments we took in order to avoid having to pack and move as much stuff, and this seems to be an almost unanimous trait among other travelers as well. Learning to be a minimalist is important in reaching financial independence because the less you buy, the lower your expenses, and the faster your path to FIRE.
  3. Lower student loan payments:I’ve written numerous articles on student loans including all the various student loan forgiveness options over the years. As a travel therapist on an income driven repayment plan, it’s possible to reduce your student loan payment significantly and even to pay $0/month in some cases. Going on the REPAYE repayment plan and pursuing student loan forgiveness while saving and investing as much as possible has allowed me to have a significantly higher net worth even when factoring in my student loan balance gradually growing. This isn’t the solution for everyone but is definitely worth considering, especially as a travel therapist with lower taxable income.
    • For those therapists who would rather pay off their student loans as quickly as possible, point #1 about higher income can help you to aggressively pay off your student loans within just a couple years as a travel therapist, compared with stretching it out over 10+ years on a standard repayment.
  4. Cheaper health insurance:Currently under the Affordable Care Act, subsidies can make health insurance extremely affordable for those with a low taxable income. I’ve been able to take advantage of this for the past couple of years with, health insurance costing me less than $150/month while using the ACA marketplace plans between contracts. While on contract I’ve always chosen to use company sponsored plans which have always been very affordable. For most Americans, health insurance costs are a major concern, but as a travel therapist with a lower adjusted gross income (AGI), health insurance can be very affordable!

Using Travel Therapy to Gain Freedom

Financial independence is a goal that everyone should be striving for regardless if retiring early is appealing or not. Even if you love your job and plan to never quit working, having the peace of mind of knowing that work is optional is invaluable. Having more options in your life is always a wonderful thing!

Pursuing a career as a travel therapist, with all of the flexibility and benefits inherent in the job, is a perfect way to reach financial independence more quickly. Travel therapy was certainly vital for me in reaching my financial goals in such a short period of time!


If you’d like help getting started on your own path to financial independence and travel therapy journey, feel free to contact us with questions or ask us for recommendations for travel therapy companies/recruiters to help you get started!

Jared Casazza

Written by Jared Casazza, PT, DPT