Resort RV Lot Ownership – Is It Right For You?
Article and Photos by: Steve Blume, Tiffin Ambassador
People say the best time to plant a tree is twenty years ago. The same is true when buying your RV lot.
According to LandSearch.com, there are 4,977 RV lots currently listed for sale across the country with an average price of $256,000. These vary from a simple lot with no structures to expansive lots with waterfalls, landscaping, and a small home. Owners have deeded lots, and usually, there is a very active Home Owners Association (HOA) that ensures the quality standards of the resort and manages the rules in place for everyone’s benefit. The HOA fees cover common grounds maintenance and insurance for resort liability and structures. Owners are responsible for insuring their own lot and typically name the HOA as an additional insured.
Why buy instead of just renting? That depends upon you and your lifestyle. Do you like going to the same area year after year? What are your long-term plans, lifestyle, and financial goals? If you plan to go to the same resort year after year, there can be long-term cost savings when you own it.
We discovered the winter warmth and sunny beaches of Southwest Florida five years ago, immediately becoming snowbirds. We loved our RV resort near Fort Myers, FL, where the same seasonal campers returned year after year, creating lasting friendships. Corporate entities have gobbled up most private family-owned campgrounds, so ours had three different owners with their new policies and rates during that five-year period. Our rates almost doubled over those five years, and we had no control over site selection or guaranteed reservations for the next season. That experience reinforced our desire to consider other options, including RV lot ownership.
Owning an RV lot, like a home, enables you to build equity instead of just paying rent. Purchasing a lot in a desirable location helps even more and makes it attractive for resale. Many resorts help manage a rental pool where your site can generate income when you are not using it. The stress of seasonal booking is gone, so you can go any time and even make it available to friends and family. You can upgrade your property by adding pavers, landscaping, an outdoor kitchen, or even structures where allowed. Owning a lot often means being part of a community with like-minded neighbors and building relationships with people there year after year.
Since purchasing is a significant investment, you want to get it right when choosing that resort. You’re going from dating to being married. Where geographically do you want to be? Any real estate professional will tell you its location, location, location. With your Tiffin, you have options. You can have a lake house, a beach house, a mountain retreat, or live on a golf course. Perhaps you have family nearby. How close is it to the beach, Disneyworld, national park, or attractions? Is it close to essential services like grocery stores, medical facilities, and restaurants? All of these things affect desirability and the price you pay. How much are HOA fees, and what is included? Are golf carts allowed? Can you rent your lot when you are not using it? Do they handle rentals? What are the insurance requirements for the site, the rental program, and golf carts? Is full-time living allowed or only seasonal? Are there restrictions on RV types, age, or length? Are park models allowed? Do you want a 55+ community? Is high-speed internet available? If possible, obtain a copy of the HOA budget to understand the financial situation and planned expenditures.
Amenities such as a pool, clubhouse, pickleball courts, a Tiki bar, and organized activities build community. Get a copy of the activities calendar and join the resort’s Facebook page. Consider booking a site and staying there as a renter first to get an insider’s view of life at the resort before you purchase. One morning, I showed up for pickleball and later had lunch in the grill, interacting with many happy owners and reinforcing my decision to own a site there.
How do you choose your lot? The resort we chose had 28 lots listed for sale. Due to the brutal Florida afternoon sun, I wanted a north-facing shady site, which narrowed the options. The one with large palm trees, landscaping, lighting, additional electrical outlets, and a newly furnished gazebo made our choice easy compared to the others available. Those factors that appealed to me will make it stand out for future buyers.
You may find various payment options based on your personal situation and the price you are paying. There are a few companies that finance lots. A home equity loan (HELOC) or borrowing against your investments in the market may work for you. In addition to any payment you may have, don’t forget the HOA, utilities, and property taxes. Property taxes and loan interest may sometimes be tax-deductible, so check with your tax advisor. You may also need an off-site storage unit if you plan to leave personal items, furniture, or a golf cart.
Speaking of golf carts, know the requirements. Are both gas and electric carts allowed? Check the resort’s rules – many require at least liability insurance for golf carts driven on the property. Some resorts may also require registration or proof of insurance before allowing cart use. If you drive your golf cart on public roads, you may need street-legal registration. Some states classify golf carts as low-speed vehicles (LSVs) if they meet specific safety standards (lights, turn signals, seat belts, etc.). Many states require liability insurance if the golf cart is street-legal. Some only allow licensed drivers to operate golf carts on roads. While liability is a must, consider collision, comprehensive, and uninsured motorist coverage if your golf cart has a high value.
Just like purchasing a home, you will have a closing. If a realtor is involved, they will handle many of the details. If not, a title company will handle it; other owners or the office can share those with you. The closing costs will vary, and you will probably have title insurance. Are there any title/deed restrictions? What about unpaid assessments?
Liability insurance coverage is a must, and most resorts or HOAs require liability insurance to cover accidents on your lot. Insuring a lot with no permanent structures that you do not rent out may be as simple as adding it to your homeowner’s liability coverage as a new location, even though it may be in a different state. Check with your agent who insures your home. Some insurers offer policies specifically for RV lot ownership, including Vacant Land Insurance, Personal Property Coverage, and Loss Assessment Coverage. If the resort’s HOA levies a special assessment for damages (e.g., storm damage to common areas), this helps cover your portion.
RV lot ownership is not for everyone, but there are undoubtedly many benefits to owning an asset that is appreciating with no rate increases and the freedom to come and go at any time. Facebook groups feature listings and discussions, such as RV Lots for Sale in Florida and Luxury RV Lots For Sale. You can also do your own searches. Check out online marketplaces such as RV Property, RVParkStore, and LandSearch.
Here are examples of several top-rated RV resorts across the country:
- Bella Terra of Gulf Shores – Gulf Shores, AL
- Bluewater Key RV Resort – Key West, FL
- Naples Motorcoach Resort and Boat Club – Naples, FL
- Gulf Waters RV Resort – Fort Myers Beach, FL
- Pacific Shores Motorcoach Resort – Newport, OR
- Tiger Run Resort – Breckenridge, CO
About the Author:
Steve first lives it, then colorfully writes about it, especially his passion for the RV lifestyle. A retired entrepreneur, he and his wife spend half the year traveling the country in their Tiffin Allegro RED 38 KA and the other half at home in Brentwood, TN with family. Married for almost 50 years, once you meet them he and Nancy are easily remembered – he is 6’4″ and she is 4’7″. His articles on business, personal development, faith, fundraising and running have appeared in numerous newspapers and magazines over the years.
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