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Open Roads Forum  >  RV Parks, Campgrounds and Attractions

 > RV lot OWNERSHIP - deeded lot ownership, live year round

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ct1964ups

Davenport,Fla & Oxford,Ct

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Posted: 01/26/20 08:34am Link  |  Quote  |  Print  |  Notify Moderator

Guy Roan wrote:

We own our on lot in Key Largo and our park is a "condominium Park"
We winter here and summer in our home in the NC mountains.
Our park is so nice it is next to impossible to get a place for sale here.
We lucked out five years ago and even though we have no intentions of selling, our lots value has tripled in value.
One thing to check on is the taxes. Where we are we just pay county property taxes on the land if the trailer stays on wheels and can be moved

Like others have said, check all the rules, regulations and monthly maintenance fee and if your place is a desirable place, go for it

Can we ask the Name of your park and where it is in Key Largo...if you don't mind giving out this info..Chuck

Guy



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magnusfide

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Posted: 01/26/20 08:58am Link  |  Quote  |  Print  |  Notify Moderator

PawPaw_n_Gram wrote:

Just make sure you get to read and understand all the rules, fees about the place. In reality, you would be buying property in a community managed by an HOA.

That isn't necessarily a bad thing. Just understand fully what you would be getting into.

Double ditto. Some places have property taxes too.


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doxiemom11

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Posted: 01/26/20 11:06am Link  |  Quote  |  Print  |  Notify Moderator

We are thinking of doing something like that so that we have a place at least 6 months out of the year that is less expensive than paying rv parks fees. Always knowing there is a spot for you is also priceless. Haven't found our spot yet, but yes, this is common in the warmer states, saw many in Arizona. Check out Escapees - that is exactly what some of their parks are.

Mbiviano

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Posted: 01/26/20 11:18am Link  |  Quote  |  Print  |  Notify Moderator

Lake Greenwood Motorcoach Resort is in SC and is what you describe. Right on the lake, but only allows Class As.


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2012Coleman

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Posted: 01/27/20 05:55am Link  |  Quote  |  Print  |  Notify Moderator

There is a couple in Hilton Head NC:

Hilton Head Island Motorcoach Resort

Hilton Head Harbor

We've stayed at the second a few times - really nice - and expensive. The sites are privately owned an d the resort rents them out when the owner isn't there. You get there, park your rig, then go around on a golf cart and choose the site you want - you mark it with a cone they give you.

We looked into ownership out of curiosity and once you get over the price of the sites, you get hit with the association fees and other dues. I'll be a renter - not an owner.


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Hammerboy

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Posted: 01/27/20 10:25am Link  |  Quote  |  Print  |  Notify Moderator

2012Coleman wrote:

There is a couple in Hilton Head NC:

Hilton Head Island Motorcoach Resort

Hilton Head Harbor

We've stayed at the second a few times - really nice - and expensive. The sites are privately owned an d the resort rents them out when the owner isn't there. You get there, park your rig, then go around on a golf cart and choose the site you want - you mark it with a cone they give you.

We looked into ownership out of curiosity and once you get over the price of the sites, you get hit with the association fees and other dues. I'll be a renter - not an owner.


Did you consider renting it out while you are not using it? I know many lot owners more than cover their expenses that way. I thought of buying one someday in Florida and just saving Jan-March for ourselves then renting the rest.

Dan


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Guy Roan

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Posted: 01/27/20 03:03pm Link  |  Quote  |  Print  |  Notify Moderator

ct1964ups wrote:

Guy Roan wrote:

We own our on lot in Key Largo and our park is a "condominium Park"
We winter here and summer in our home in the NC mountains.
Our park is so nice it is next to impossible to get a place for sale here.
We lucked out five years ago and even though we have no intentions of selling, our lots value has tripled in value.
One thing to check on is the taxes. Where we are we just pay county property taxes on the land if the trailer stays on wheels and can be moved

Like others have said, check all the rules, regulations and monthly maintenance fee and if your place is a desirable place, go for it

Can we ask the Name of your park and where it is in Key Largo...if you don't mind giving out this info..Chuck

Guy


It is "Key Largo Kampground and Marina" About a mile passed John Pennekamp state park, behind the Publix shopping center.
Check it out on line and take a look at the video.
We have two beaches, access to the Atlantic and our water playground is the Largo south sound mangrove gardens as well as the Pennekamp canoe trails.

Guy

lbrjet

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Posted: 01/27/20 05:25pm Link  |  Quote  |  Print  |  Notify Moderator

magnusfide wrote:

PawPaw_n_Gram wrote:

Just make sure you get to read and understand all the rules, fees about the place. In reality, you would be buying property in a community managed by an HOA.

That isn't necessarily a bad thing. Just understand fully what you would be getting into.

Double ditto. Some places have property taxes too.


All real estate has property taxes. If there is no property tax, you don't actually own the lot.


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travelnutz

West Michigan - On the Lakeshore

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Posted: 01/27/20 08:51pm Link  |  Quote  |  Print  |  Notify Moderator

We have them ourselves in Michigan (4) and also in Florida (2) recently. Nothing new as they have been around for many decades already. A few things to remember that involve costs etc that may be high or low at various locations. We own and have owned several such RV properties where you can spend/occupy zero to 365 days a year on or even rent them out to others. If we rent them out, we get the full rent paid but if the association rents them out for us, we may get 50% to 67% of the rent amount paid. A big difference. You usually are not there when it's rented out. May be very wonderful renters or may even be druggies etc.

Cost to purchase (of course).

Yearly dues or some have monthly dues or fees (not to be confused with property taxes).

All owned and deeded propeerties have property taxes that must be paid.

All require keeping the property in good upkeep conddition wheter you are on it or not. If not occupying your property, you still must keep it up which usually means paying ssomeone else to do it for you.

All have rules or convenents or HOA's etc.

You are responsible for all utilities, costs and bills accrued, maintenance/upkeep there of, liability etc insurance/insurances(can get real sticky if rented out), you bear the cost of repairs etc caused by you or your renters, whether you are on the property or someone else is renting it. You OWN it!

Remember that the property is a fixed location and you can't move it but you can sell it if must you don't like your neighbors or the costs or rules become more than you are willing to deal with or shuck out for them. Costs will only increase with time and virtually never decrease and guess who will be paying them! What can you actually sell it for in a present at the time market condition? Over the years since the 1980's we have sold 4 such RV condo properties and done very well but it's certainly not guaranteed.

Can be a very good venture or a very bad venture and of course, many ventures do fail, some quickly and some over a long time. Some also increase in value and resale $$$ so it's wise to research thoroughly and know what you are getting yourself into. Laws, codes, and rules vary greatly from state to state and counties/areas also.


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2012Coleman

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Posted: 01/28/20 05:13am Link  |  Quote  |  Print  |  Notify Moderator

Hammerboy wrote:

2012Coleman wrote:

There is a couple in Hilton Head NC:

Hilton Head Island Motorcoach Resort

Hilton Head Harbor

We've stayed at the second a few times - really nice - and expensive. The sites are privately owned an d the resort rents them out when the owner isn't there. You get there, park your rig, then go around on a golf cart and choose the site you want - you mark it with a cone they give you.

We looked into ownership out of curiosity and once you get over the price of the sites, you get hit with the association fees and other dues. I'll be a renter - not an owner.


Did you consider renting it out while you are not using it? I know many lot owners more than cover their expenses that way. I thought of buying one someday in Florida and just saving Jan-March for ourselves then renting the rest.

Dan
Sure - we considered that, but the amount of revenue you make on renting - after the park takes their share wouldn't cover the costs of ownership when all the fees are added in. Of course, this varies by location.

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