I toured on my bike several hundred miles for a few months this summer, which isn't really that much I suppose, but was enough to give me a taste of the lifestyle. While it is great for a few months or even up to a couple of years, I definitely wouldn't want to live on a bike long-term. I would only recommend it long term if you literally have no money, or you absolutely love cycling. It does get tiring (both physically and mentally) and it doesn't really feel like "home" in the same way a van could. I would, however, recommend a couple month bike tour to almost anyone.
You may be more limited on a bike than you might initially think. If you really want to go off the beaten path, that will be difficult with most touring bikes with panniers. Loaded touring bikes are heavy and don't have the tires and suspension a mountain bike has. You are also limited by how much you can carry before needing to resupply back in civilization, which may only last a few days.
I definitely wouldn't recommend towing a "garden cart" (assuming we are thinking of the same thing). Panniers are far better, but if you did want a trailer then it would need to be built as light as possible. I played around with the idea of building a small camper and put quite a lot of time into designing one but in the end I never got around to building one. Check out this bike camper trailer, which is build out of corogated plastic so its lightweight yet can fit a bed and feel as homely as you can get with a bike trailer
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How practical living on a bike is depends quite heavily on the location. Certain parts of USA may make it difficult , with factors like climate, supply availability, amount of private land/ campsite availability. On my bike trip, I cycled in Holland, Belgium, and northern France, which is of the most densly populated areas in Europe. This meant that wild camping is almost impossible, but getting supplies was easy.
Keep in mind that you cannot carry large amounts of food (or water) so you miss out on savings by not buying food in bulk like you can in an rv/van, plus the food tends to be less healthy as carrying lots of fresh food isn't practical. Also, those little camping propane tanks are fairly expensive relative to larger tanks. And remember if you wanted to live as cheaply as possible, there is always the option of walking and living out of a backpack.
rvpopeye said:
I lived on my bicycle for 5 years after graduating.
Wow, 5 years is impressive. Were you cycling one continuous route, or was it more of a case of "living out of" a bike and camping in spots for a long while in a general area?