We would like to purchase a RV lot in Florida,any suggestions on how or about financing? Thanks in advance!

We stay in an ownership park in Crystal River Fl. We rent from an owner who has a number of lots for investment. Lot prices are way down right now but seem to have stabilized. Talked to a realtor that handles lots here and I guess getting financing can be tough, banks do not want to handle lots with the real estate market so bad in Fl.Some motivated lot sellers will do some kind of financing to strong buyers.I would suggest renting from owner for a season to make sure park is what you want long term.We are at Nature Coast Landings in Crystal River.Good luck in your search.

You are probably going to be limited to owner financing. Not too many lending institutions will take on an RV lot anymore. Another option is use a personal loan from your bank and own the lot free and clear.

MPI_Mallard wrote:We would like to purchase a RV lot in Florida,any suggestions on how or about financing? Thanks in advance!I don't know if this is true or not but was told it's cheaper to buy a lot somewhere that allows RVs and Mobile Homes (much of FL) and set yourself up. You may not need financing that way. By that I mean you buy a nice lot and have water and electricity and sewer installed yourself. In fact I did that where I live now. Or buy a lot with an old MH on it, get rid of the MH, and set up your RV for the winter. From what I have seen in FL that would be the cheapest way to go. Buying an RV lot in an RV Resort can be very costly and you'll have neighbors right on top of you. And you will have all kinds of rules and regulations about everything from disallowing screen rooms to how many pets you can have to being banned from drying anything outside your RV. It would be every bit as bad as living where there's a HOA.

WandaLust2 wrote:MPI_Mallard wrote:We would like to purchase a RV lot in Florida,any suggestions on how or about financing? Thanks in advance!I don't know if this is true or not but was told it's cheaper to buy a lot somewhere that allows RVs and Mobile Homes (much of FL) and set yourself up. You may not need financing that way. By that I mean you buy a nice lot and have water and electricity and sewer installed yourself. In fact I did that where I live now. Or buy a lot with an old MH on it, get rid of the MH, and set up your RV for the winter. From what I have seen in FL that would be the cheapest way to go. Buying an RV lot in an RV Resort can be very costly and you'll have neighbors right on top of you. And you will have all kinds of rules and regulations about everything from disallowing screen rooms to how many pets you can have to being banned from drying anything outside your RV. It would be every bit as bad as living where there's a HOA.To me that would be pretty boring if you like the facilities, activities and friendships made in a RV Park type setting, Who would you have Happy Hour with?However if you are more of a loner that may be just the thing.

pawatt wrote:WandaLust2 wrote:MPI_Mallard wrote:We would like to purchase a RV lot in Florida,any suggestions on how or about financing? Thanks in advance!I don't know if this is true or not but was told it's cheaper to buy a lot somewhere that allows RVs and Mobile Homes (much of FL) and set yourself up. You may not need financing that way. By that I mean you buy a nice lot and have water and electricity and sewer installed yourself. In fact I did that where I live now. Or buy a lot with an old MH on it, get rid of the MH, and set up your RV for the winter. From what I have seen in FL that would be the cheapest way to go. Buying an RV lot in an RV Resort can be very costly and you'll have neighbors right on top of you. And you will have all kinds of rules and regulations about everything from disallowing screen rooms to how many pets you can have to being banned from drying anything outside your RV. It would be every bit as bad as living where there's a HOA.To me that would be pretty boring if you like the facilities, activities and friendships made in a RV Park type setting, Who would you have Happy Hour with?However if you are more of a loner that may be just the thing.But there's a price to pay for those facilities, activities and friendships. You have to put up with many rules and regulations that may not be what someone wants. You have small lots with little privacy. Most don't allow the people to have campfires to enjoy or cook over. Many don't even supply picnic tables anymore. Others don't want you to use those outdoor carpets/mats as they damage the grass. There are drawbacks that have nothing to do with being a loner. And we got to know a LOT of people in the place we spent last 2 winters who had no interest in Bingo, crafts, Karaoke, sitting and putting puzzles together and other such activities. I would be close to accurate if I said only about 25 to 30% of the people there participated in those things. The only huge turnout was the covered dish dinners. They were extremely popular. One singalong we went to no more than about 10 people show up.

Canadians buying RV lots in Florida | Good Sam Community

15 Replies

motorcycle_jack
Explorer II
Jun 18, 2013
MPI_Mallard wrote:
After some diggin' I found that our banks in Canada simply won't go near a lot in the US and the TD in Florida will have nothing to do with a lot alone in Florida however they will consider a a finished lot with a permanent park-model but that's simply not what I want,when I go home all I wanna' leave is concrete,a shed and a golfcart and taking money out our investments is out so I guess i'll just keep on renting!

Thanks for your input!

If I were in your shoes, I would contact Alan at Williston Crossing and tell him what you want to do. They just tripled their park siza and have lots for sale - both park and rv. And I think they finance. It is a REALLY nice park near Gainesville.
WandaLust2
Explorer
Jun 05, 2013
rockportrocket wrote:
Do you have any idea of what the cost are to get sewer, water and elec installed in Fla. U must be kidding.

Go find yourself a lot for sale and buy it from the owner.

That would depend on the area. I see poor people living outside the gated communities on small lots everywhere in FL. How are they affording it? Surely they have running water, electricity and septic tanks.

Buying a lot with an old house or MH would be my first choice.
michelb
Explorer
May 21, 2013
Dealing with US banks is almost impossible for a Canadian unless you are living and working in the US. Some of the 'US branches' of Canadian banks do offer US mortgages to Canadians but even that's not easy (you still need a very significant downpayment (40% or more) and they are very selective on the type of property they will finance (I've heard even condos can be very difficult so I'm not surprised they won't finance just a lot) so in most cases, the most common way for Canadians to finance US real estate purchases is to use a line of credit in Canada to get the money and then use that money to do a cash purchase in the US.
az99
Explorer
May 21, 2013
MPI_Mallard wrote:
After some diggin' I found that our banks in Canada simply won't go near a lot in the US and the TD in Florida will have nothing to do with a lot alone in Florida however they will consider a a finished lot with a permanent park-model but that's simply not what I want,when I go home all I wanna' leave is concrete,a shed and a golfcart and taking money out our investments is out so I guess i'll just keep on renting!

Thanks for your input!
I believe that is the best plan also. Even if they would loan you the money. I was looking into the same type purchase and no matter how cheap I could buy it, it just did not make financial sense. Until you pay all the HOA fees, taxes, interest, maintenance etc., it just does not work. Renting makes more sense. If it were in an area that you could offset the costs with some rentals,it would get closer to a wash.
Also nothing would aggravate me more than writing the cheques for interest, taxes, cable TV, water, electric and trash pickup for the 8 months a year I was not there.:)
Not saying I never will but it will have to be something we really love and can't rent.
MPI_Mallard
Explorer
May 18, 2013
After some diggin' I found that our banks in Canada simply won't go near a lot in the US and the TD in Florida will have nothing to do with a lot alone in Florida however they will consider a a finished lot with a permanent park-model but that's simply not what I want,when I go home all I wanna' leave is concrete,a shed and a golfcart and taking money out our investments is out so I guess i'll just keep on renting!

Thanks for your input!
hitchup
Explorer
May 17, 2013
We bought a lot in north GA last year. It was a For sale by owner and they are carrying the contract. We didn't want to hassle looking for financing as we were in TX at the time.

Found it online through RVProperty.com.

I'm sorry, we found ours on Lots for sale
retispcsi
Explorer
May 17, 2013
I am resident of Fla. and I live a nice home which will be for sale when the market stabilizes a little more. Translate to not cheap. Anyway we have looked at RV lots aka, condo lots, co-op lots and depending on HOA fees this appears to be the way to go. You can be fulltime, enjoy Fla. in the winter and travel when the weather is nice. For those of you talking about demolition you had better checkout the permits and Enviro requirements and bring your checkbook. Septic systems are very expensive to install in Fla. Now if you want to go find a lot out in the weeds in Central Fla. maybe you could get buy a little cheaper. If you want to enjoy the Fla. amenties, sun, surf, golf etc., it will cost you whatever you do. Also be careful when looking a lot of the counties, cities are requiring upgrades to the exsisting sewer, septic and fresh water systems. Big bucks. If you check it out you will be fine.
WandaLust2
Explorer
May 17, 2013
doxiemom11 wrote:
If it's a lot with an old mobile homes on it, sewer, water and electric should already be there (in most cases).

EXACTLY! All you have to do is sell any old MH that's on the lot and back your RV right in and hook 'er up. :B And that's what we talked about doing. But we decided we didn't want to own property in another state, nor be obliged to keep returning to the same place.

BTW, there are also nice lots with old houses on them of no real value. Good to use for storage or just have someone from Craigslist knock them down for the wood, windows - whatever. All hookups would be there ready for your RV.
doxiemom11
Explorer II
May 17, 2013
If it's a lot with an old mobile homes on it, sewer, water and electric should already be there (in most cases).
rockportrocket
Explorer
May 16, 2013
Do you have any idea of what the cost are to get sewer, water and elec installed in Fla. U must be kidding.

Go find yourself a lot for sale and buy it from the owner.