Question RV lot ownership

[sheridany]

We recently spent a week at motorcoach country club in Indio,CA and it’s a beautiful place but insanely expensive to buy into for something that is seasonal. Apparently way too hot in the summer and empty. The hoa was 550/mo and you have to pay $1500 a season as an owner for the restaurant which has a pricey menu. We thought for a second about buying but our better minds prevailed as neither of us are retired and we wouldn’t get the full use out of it. The weather was fantastic however it seems to me that going lots of interesting places is the purpose why we have RV’s versus staying put. Some do both I am told.

1. how many have an RV lot they own and how much do you use it? Do you go for months or short periods?
   
   
2. Are you able to rent it when you aren’t using to offset the annual cost?

 

[FL-JOE]

This is always a hot topic around the "patio" during our winter stays in SW Florida. We have toyed with the idea of purchasing an RV lot on several occasions but never pulled the trigger. Last month we toured a newer RV resort (Golden Palms Motorcoach Resort, Rt. 82, Ft Myers). They are about 1/4 developed with a bunch of large lots available. By the time we would pave our lot and have the 500 square foot coach house built we would have well over $200,000 invested.

Factoring in HOA costs, insurance costs, property taxes, and lost interest on the $200,000 we really wouldn't be any better off than renting for $5,000 to $6,000 each winter. Now if you could hold that property for 5 years and sell it for $200,000 or more than you could come out better.

I guess what has always kept us from doing it is we want the option of going different places for the winter months.

There are certainly pros and cons.

 

[TJ&LadyDi]

There are lots of pros and cons to be considered when thinking about buying an RV lot. How you intend to use the property will go a long way toward sorting them out.

We own a lot at Polson Motor Coach Resort in Polson, Montana, and went through all the considerations before buying. We love Western Montana and would probably live there full time if it wasn't for family connections in Washington.

One of the most important financial considerations is resale should the need arise. We bought at a very good price from a motivated seller at a good time. And, since we rent the lot out when we are not there, we have consistently been able to cover our annual costs (taxes, utilities, HOA fees, maintenance, etc.). Because we did not have to finance our purchase, we do not have to factor in loan payments, but that would certainly be a consideration for those who do. While there is not as much appreciation in the value of an RV lot vs a sticks-and-bricks, there can be some. Our lot would sell for significantly more than we paid for it, but we "bought it right."

TJ

 

[sheridany]

That’s excellent insight @TJ&LadyDi . It was interesting when talked to people there is there were a few motivated sellers willing to sell at a loss which was concerning. Some were from Canada and with the exchange rate as it is, it’s probably expensive to come here Some were selling furniture cart etc along with holding the note thrown in to motivate buyers. One thing that was interesting about mcc is a non owner can only stay 30 days max a year so in the event you wanted to rent it for a season to a single party, that’s not an option.

 

[TJ&LadyDi]

We have found that the most common turnover factor in RV lots is "aging out." Owners get to an age where they are no longer comfortable driving a motorhome, or living in one for a significant period of time, and decide to sell. We also found that most sellers of RV lots tend to over-value (over-price) their property. When it sits on the market for a while, many will entertain lower offers; especially cash offers that get them out from under their obligations cleanly and quickly.

TJ

 

[AuntieDodo]

This is always a hot topic around the "patio" during our winter stays in SW Florida. We have toyed with the idea of purchasing an RV lot on several occasions but never pulled the trigger. Last month we toured a newer RV resort (Golden Palms Motorcoach Resort, Rt. 82, Ft Myers). They are about 1/4 developed with a bunch of large lots available. By the time we would pave our lot and have the 500 square foot coach house built we would have well over $200,000 invested.

Factoring in HOA costs, insurance costs, property taxes, and lost interest on the $200,000 we really wouldn't be any better off than renting for $5,000 to $6,000 each winter. Now if you could hold that property for 5 years and sell it for $200,000 or more than you could come out better.

I guess what has always kept us from doing it is we want the option of going different places for the winter months.

There are certainly pros and cons.

This place looks really nice and I have been keeping my eyes on it. With the pandemic we could not just take a trip South of the Border easily and still can’t but I was looking. There were many lots available not that long ago and I had a browse today and not one is available. Sold out!

I am not retired yet so was hoping sales would remain slow until I would be able to use a lot but nope, all gone.

 

[Headhunter]

I to have been kicking around the idea of purchasing an RV lot. I know we want to be in Florida, but the prices of the RV Resorts we like are very high. Maybe looking or trying to find a new RV Resort that is still building up and try to get in at the ground floor?

These PA Northeast winters are killers. We must of had at least 8 nights so far below zero. Coming home last night second time got the trailer stuck trying to come up our driveway.

I like the idea of a 55 +, Class A, community. There are some but not a lot around as far as I can see. Any suggestions?

HH

 

[AuntieDodo]

I hear you with the cold days. It’s freezing here again!

Maybe when the Covid spending frenzy is over things will open up.

Just before Covid would have Ben good time to buy. Oh well.

 

[Headhunter]

Anybody stay at Florida Grande Rv Resort? They seem to be sort of new and are building another section from what I can gather from their website Welcome To The Florida Grande - Florida Grande

The prices for lots seem reasonable. They are in Central Forida, but I don't think their is a lot of attractions in this area. I left them a few questions a few days ago on the contact us email address, they never responded.

HH

 

[Joe Hogan]

We also have been tempted to purchase a RV Resort lot. There are many variables that drive that decision. If you are going to rent it when not using it, then you have another layer of complexity. Management, fees, tracking, abuse of grounds, etc.

We have always thought Polson would be a great place, just have never got to the point of purchase.

 

[redbaron]

something to consider: purchase raw land and make it your own rv lot. Done properly, you will have minimal expense, and very good appreciation in the property value.

My most recent purchase was near Glacier NP, where I purchased 3 acres. I had to put in a road, water, electric, sewer, and internet. Total investment < $100k, with annual expenses < $1k including utilities and taxes.

I am in the process of doing the same thing in the Smokey mountains.

 

[docj]

We own a lot in an "ownership park" in Rockport TX where we spend our winters and "non-travel" months. It's not a "resort" nor did we want one. It's a community of ~80 lots and we have fee simple ownership of ~3,000 sq ft on which we have built a casita (my wife's sewing center) and a storage shed. The park's only amenities are a laundry center but we weren't interested in having more than that. We're not the kind of people who spend their days at the rec hall playing poker, pickleball or whatever. There's nothing wrong with that IMO, but it's simply not for us.

 

[FL-JOE]

Since I last posted on this subject (about 2 years ago), much has happened. We actually did start wintering at a different location in Florida and when covid initially struck our annual lease for a RV lot was $3,444 per year. We are still in that same resort even though the lease has risen to $4,800 per year this month.

For us, at least over the past few years as full timers, it has worked out financially to lease instead of buy.

 

[Jim]

Since I last posted on this subject (about 2 years ago), much has happened. We actually did start wintering at a different location in Florida and when covid initially struck our annual lease for a RV lot was $3,444 per year. We are still in that same resort even though the lease has risen to $4,800 per year this month.

For us, at least over the past few years as full timers, it has worked out financially to lease instead of buy.

Hey FL-Joe, what comes with that $4,800 a year?

 

[flyboy013]

After renting a lot at Pelican Lake Motorcoach Resort in Naples Florida for portions of the 2020 and 2021 winter seasons, we purchased a lot this past May.

We were one of 104 new owners in 2021. There are a total of 289 lots, so quite a bit turnover. I have been told that the average ownership duration is 5 years.

While there are the various costs of ownership (property taxes, HOA fees, insurance, etc), the lot is also an investment. Since we purchased, values have increased just over 25%. Hopefully they will continue to rise as opposed to falling.

Pelican Lake is a very high end resort and has many benefits, the most important to us is the socialization that takes place here. There are tons of activities that take place each week. It’s far from a “campground”. I looked at purchasing a S&B here in the Naples area. While the weather is great, I did not want to end up sitting in my house like all the other in a typical neighborhood. I’ve taken up Pickleball and this past week we hosted the weekly Friday evening “Booze Cruise” gathering. Again, a very social place.

I like the fact that I can come here anytime I want. It’s mine and no reservations are required. We do not rent out the lot, which by the way, has a 308 sqft casita.

 

[Old Bubblehead]

We own at Olde Beau Motor Coach Resort in NC. We use our lot extensively, any trips we take during the year are based from there. We do not rent our lot. We have a 1000 sq. ft. casita on the lot, and use this in the off season when the coach is in storage. Having the lot changed the way we camped, but we enjoy what we are doing now.

 

[Tip&Tina]

Anybody stay at Florida Grande Rv Resort? They seem to be sort of new and are building another section from what I can gather from their website Welcome To The Florida Grande - Florida Grande

The prices for lots seem reasonable. They are in Central Forida, but I don't think their is a lot of attractions in this area. I left them a few questions a few days ago on the contact us email address, they never responded.

HH

We purchased at Florida Grande about 4 months ago in the first section. When we purchased there were about 25 lots for sale; they are sold out and starting on the “new” second section. Just learned that at our POA meeting. There will be a total of 499 lots.

The Villages is building near by and will be within 5 miles of FG when they are built out. Will that help the property values? Maybe. It will help with restaurant, shopping etc. Right now all of that is about 15-30 minutes away depending on what you want. We are 30 miles from Orlando, 40 miles to Tampa and 20 miles to Ocala.

FG is very quiet, the neighbors are awesome, the pickleball is great, the poker is awesome and the overall atmosphere is very positive.

Our lot backs up to a large cattle farm-these are our neighbors.

 

[Headhunter]

We purchased at Florida Grande about 4 months ago in the first section. When we purchased there were about 25 lots for sale; they are sold out and starting on the “new” second section. Just learned that at our POA meeting. There will be a total of 499 lots.

The Villages is building near by and will be within 5 miles of FG when they are built out. Will that help the property values? Maybe. It will help with restaurant, shopping etc. Right now all of that is about 15-30 minutes away depending on what you want. We are 30 miles from Orlando, 40 miles to Tampa and 20 miles to Ocala.

FG is very quiet, the neighbors are awesome, the pickleball is great, the poker is awesome and the overall atmosphere is very positive.

Our lot backs up to a large cattle farm-these are our neighbors.

Hi Tip & Tina

That sounds good. On their website when I submitted questions to the CONTACT US address, they wouldn't answer my questions because they didn't know if I owned an A Class motor home. Maybe they think I didn't read the 55+ Serving Class A motor homes in their header.

Then I filled out another questionnaire stating my motor home class and size and asked the same questions I got no answer at all. So maybe you can answer one please. It say lots starting at $52K, Does that include pavers and landscaping? Approximately how much more for a grand suite or a Tiki Hut?

Another Rv Resort is in the same proximity is called Bay Lake. I was hoping to maybe take a trip down and spend a few days at each RV resort and check them out. I like where they are located in Florida.

Regards HH.... Jim P.

 

[Fish]

Hey FL-Joe, what comes with that $4,800 a year?

Can't speak for him but for my 4100 a year I have a huge lot that I leave a 16 ft box trailer on to keep my golf cart in. On site marina on the Caloosahatcee, on site 9 hole par 36 golf course, pool, steakhouse, and of all things a rodeo arena that doesn't seem to get used much. Down the river a ways is River Bend Motorcoach Resort where lots are 200 grand and up and I'm pretty sure hoa fees are as much as I pay in rent and they don't have a golf course. Think I'd stay here over there even if I won the lottery.

 

[AbdRahim]

We own at Olde Beau Motor Coach Resort in NC. We use our lot extensively, any trips we take during the year are based from there. We do not rent our lot. We have a 1000 sq. ft. casita on the lot, and use this in the off season when the coach is in storage. Having the lot changed the way we camped, but we enjoy what we are doing now.

Looks expensive