RV lot owners-What was your motivation?

[Neemer]

I like staying at RV resorts in which the lots are privately owned. With the exception of where I am currently, I get the fever to buy one, but whenever I get out my stubby pencil, I can’t make it work financially.

So, I’m interested in learning why folks buy them. I’m probably overlooking something obvious. It’s my MOS.

In the park I’m in currently, there are a few owners who own 2, 3, even 4 lots.

 

[Joe Hogan]

Ditto...

 

[DKRITTER]

You need to be in a position to not care about the stubby pencil. When you add the 2 letters RV to any financial discussion it never makes sense.

 

[NWIP]

We fulltime and having a place for winter was a big part. We spend 5-6 months during the winter recharging for the road in summer.

We bought where we are because we liked the park (location and people) but getting reservations in winter were almost impossible. Stubby pencil showed lot would be paid for in 10 years without any appreciation which equated to approximately 10% return on investment.

We have had some appreciation but improvements in lot and hurricane IAN assessment have not helped. Going on 4 winter here and glad we made the purchase.

 

[Neemer]

Thanks @NWIP. It does make more sense from a fulltimers perspective. I was speaking with one of the mgrs here and learned that some folks buy in order to establish FL residency, so I can see an advantage there.

Do you rent your place when you’re not occupying it? Rents here in FL are pretty extreme IMO. The nearby Camp Margarittaville is now at $5K/mo, which blows my mind. I’m sure points further south are the same or more.

 

[Rich W.]

We just bought a lot in a park that we like and it has a 14x40 1981 single wide on it with a deck, shed, parking etc. The trailer is a bit worn and has had a lot of substandard work done on it over the years, but we are working on it to make it pleasant and are in the process of deciding whether to keep it and really fix it up or having it hauled away and putting something new on it.

We like the park, the people, the weather, the amenities, outdoor recreation opportunities, events and activities, it has weekly passable entertainment, and best of all this site has privacy. With desert on two sides, it is quiet day and night since it's on an outside corner of the park. It’s also in a fairly remote location, 45 miles from the nearest urban area, so there is none of the noise, traffic, etc that detract from parks in developed areas.

We had no intention of buying when we came here for two months this year, but this site came up for sale, we feel its the nicest spot in the park, it was relatively inexpensive, so we took the plunge. It came up for sale one afternoon and we owned it the next day. We’ve also been looking at a more expensive site on the Oregon coast for summers but are still on the fence there.

This place in the desert is perfect for winters (weather much like Kona where we owned a house for several years) and it gave us a project that we are enjoying. Also we have several old friends that have places here, quite a few friends and family members visit from time to time, and we are quickly making many new friends here. So we have a good balance of time to ourselves and visiting and socializing. Yesterday I bought a golf cart so we appear to be acclimating.

None of this makes sense financially (although the place will probably appreciate) but from an R&R point of view, its quiet and enjoyable. Also the wildlife and desert sunsets are quite pleasing. I know it sounds like I’m still trying to talk myself into this decision, but we bought the place less than two weeks ago, so we are still adjusting. Before this the longest we stayed in one place was just over a month, and that was here. This is very different than our previous RV travel style, but it is easy and satisfying.

 

[ARD]

What @NWIP said! I purchased a lot last year and as a fulltimer, I am finding that it is giving me a much needed break to catch up, recharge and be involved in a fun community. I think I'm really going to like having a home base. Plus, it was always difficult finding a place to land in the winter for a couple of months. aaaargh.

As far as numbers....my site has already appreciated a decent amount since I bought it BUT that is about to be destroyed as I am about to have the lot redone. I don't think anything makes sense financially when it comes to this way of life, but I love it.

 

[Neal]

I almost bought a site at Pelican Lakes in 2017/2018 I think it was, may have been a good investment based on today. Today I think sites are at peak of the bubble, or past. It was counter to the RV lifestyle, for me, where I want to travel and not be tying down to a site long term. I also didn't like the HOA thinking I'm a blank check for whenever they see additional funds needed which happened while I was checking in and a customer came to the office to inquire right in front of me as they just had the hurricane not long before with apparently with significant damage/repairs and they raised rates which of course lot owners have no say in. I then did the math, how many months could I rent a site for what I'm paying. Take for example a site that costs 300-400K, and you rent it for maybe 4K-5K/mo x 3 months per year. That's a lot of years you can rent a site which I think the average length of lot ownership is 3-4 years? With that, I was done, not for me.

There is a lot to see in this country and spending each winter someplace new also seems better for me as I enjoy exploring new areas. To each their own (TETO - new term?).

Going to a winter destination certainly gives you the bug but try to assess carefully...sleep on it! I do things in life when they "wow me" - if something wow's you - do it!

 

[Neemer]

You need to be in a position to not care about the stubby pencil. When you add the 2 letters RV to any financial discussion it never makes sense.

True. But at some point, things need to start making at least a little sense or it becomes unsustainable. At least in my life it does.

 

[Neal]

I was speaking with one of the mgrs here and learned that some folks buy in order to establish FL residency

For the lawyers in the room, is that legal? I know at Pelican Lakes they mentioned some max limit you could stay there, maybe it was 5 or 6 months out of the year, legally.