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Old 01-17-2015, 08:48 AM   #1
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Opinions about owning a RV spot?

I Am considering purchasing a RV spot in a class A only park with less than 50 spots. It is in an area that we frequent several times a year and most likely will be an area that we retire to, 5 - 10 years from now. It is close enough to our current home that we could use it on weekends now since we both still work. The park allows permanent structures such as coach houses or screened gazebos, all uniform and approved by the HOA. This is an existing park that I have been familiar with for several years and the prices are lower now than they have ever been but seem to be making an uptick as the general economy improves. I'm not looking for rental income but mainly as an investment in my retirement and an initial foray in the areas real estate market. Does anybody else have any experience owning a RV spot? Pros and Cons? I realize that I can rent over the next 5-10 years every chance we get to stay in the area a lot cheaper than purchasing but I kinda want to own a little piece of paradise. Thoughts?
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Old 01-17-2015, 09:00 AM   #2
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Sounds to me it would be perfect for you. Since you say your probably going to retire there, it would be the perfect home base during that transition if and when you settle down there. You could always sell it once your all settled in.
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Old 01-17-2015, 09:41 AM   #3
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The only thing that matters is whether it works right for your wants and needs. Well, maybe the investment outlook too, since that seems to be one of your goals. Recreational property is a chancy proposition as an investment, since it is very susceptible to other economic factors and the first thing to go when recession strikes. But likewise a solid upward movement when times are good. Would you still buy it if the investment return was likely to be zero? Is there enough value to you personally to be happy if the hoped-for value appreciation doesn't happen? If so, go for it. If not, you might want to consider investing in some other property.
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Old 01-17-2015, 10:58 AM   #4
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If it is not a financial burden, and you enjoy the spot, why not! There are hundreds of us in the RGV who have done just that. We have since bought a house in the same development, and rent the RV spot.
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Old 01-17-2015, 11:16 PM   #5
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Just a question as I too am interested in something like this. So when you buy a spot, what do you pay when you stay there, or is that something that is covered in an Association fee, can you rent it out/or rent it out thru their service much like you would a Condo in a Resort Area. What is the general price range of a spot and what are the monthly Association fees. I know they will vary depending on location so I'm just asking for a ballpark figure and is there a web site that advertises place to buy spots....Thanks
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Old 01-18-2015, 07:48 AM   #6
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Mike, there are 4 parks in the area we are looking at, all on or near the beach, Gulf of Mexico. The lots that we have considered range from $70,000 to $350,000 and HOA fees range from $175 to $300. All the fees cover sewer, water, grounds keeping, and common area insurance but electricity is the responsibility of the owner. For $70000 you get a pad within walking or biking distance of the water and no on site staff and if you rent, it is entirely your responsibility. For $350,000 you get waterfront, a small coach house, a boat slip in the onsite marina, and a fulltime staff that will rent your spot for a percentage, usually %30. At the spot that has a rental staff, they have an online calendar that allows the owners to block out times for personal use and if you're spot is rented, you can park on another Unrented spot at no charge. The spot is yours but all have covenants and restrictions as to what you can build on your spot such as gazebos or outdoor kitchens. They want uniformity throughout the park.
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Old 01-18-2015, 09:45 AM   #7
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Does owning an "RV Spot" qualify as a bona fide mailing address for the purpose of establishing domicile? \ken
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Old 01-18-2015, 10:46 AM   #8
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we bought a lot in a hign end resort in fl. a couple of years back got it cheap
seller needed to move it quick we love it double lot deck fire pit swing built
in seats outdoor lighting over looks lake ect. we love it to us its a home base
and a investment good luck
ps picture of wife on street in front of lot
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Old 01-18-2015, 12:35 PM   #9
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Everyone is different but we RVd to travel and see the wonderful country of ours. Always going to the same place just didn't appeal to us.
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Old 01-18-2015, 12:53 PM   #10
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I can see the spot as a possible retirement home base. My question would be if the HOA can outlaw my MH of choice because it no longer fits their criteria by being too old or in need of something that I could not afford or reasonably desire to change at that time. I'd hate to be in a position where I'd have to sell the lot to get the money to buy the new MH it took to stay there.
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Old 01-18-2015, 03:44 PM   #11
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hi nothermark
i think you wound need to ask first about hoa rules. but we looked at a few
resorts the ones we looked at were deeded lots when we bought there was a title search and survy done of lot. ect kinda like buying a house plus we had
to be aproved by resort before buying .we have a 86 model but in tip top
shape and all was good good luck finding your place
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Old 01-18-2015, 03:54 PM   #12
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I view it as more of an expenditure than an investment, but then I spend money on all types of things that I enjoy. If you will enjoy and can afford it, do it. But don't expect to make money or even necessarily break even. Your return will be in good times, not in dollars.
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Old 01-18-2015, 06:39 PM   #13
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it most cases thats true. but we had cash and bought when things were
bad and people wanted out. owner had a new deck built spent $ 8000
bought $ 4500 furn. ect never said what he paid but owner next to us paid
$ 90.000 asked us for $ 30.000 no furn. but we were reday to buy in other resort
and he keep emailing us and asked what we were paying told him $ 24.000
next morning he emailed back and said give him $ 24.000 and he would
thown in all the deck furn. so we bought it the owners were very happy
and left us a gift in the storage unit they sold there moterhome and gave
us there new rv gear so it is to enjoy but also a good investment been
offered a lot more. but also i flew to fl. for a few days and was in the right
place at the right time
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Old 01-19-2015, 12:25 AM   #14
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Roger G, thanks for the info. That seems a little steep, at least the 350,000 one. We have been looking at condos to buy in resort ski areas. It doesn't do anything for our MH adventures, but if you rent the condo out during the winter it pays for your entire year of payments(if you finance) plus the entire year of Association dues. Then you basically get to use it all summer long for free, while you continue to gain value on the investment. The 70,000 spot may be worth it though for an RV spot.
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