Is buying an RV lot a good investment?
Hi My wife and I just took a month long trip through California and Arizona. We are planning to spend next winter down there. We have looked at a few resorts with lots for sale. Could anybody help ...
Forum Discussion
J-Rooster wrote:
I will never buy a lot unless it's deeded in my name. Like other posters said location is big when it comes to price!
We have a deeded lot in an RV park. I wouldn't call it an investment, at all, but it's a place we like to go and do get a lot of use out of. It's not far (230 miles) and convenient when we just want to get away. The purchase price was only about $30,000 so there wasn't a HUGE investment.
Our house has increased in value 10% in 30 months or so. The RV lot is worth essentially the same price we paid for it, so from a cash investment standpoint, it's a no-show. The other side of the coin is that the place is always in excellent shape, with manicured grass, and it's always clean. We'll do some improvements on the lot at some point.
I wouldn't consider it a place where my money would grow. We do own it and can sell it at any time and at least recover our purchase price. The HOA dues make it more expensive than just making reservations somewhere, but we know the people and like to spend time there. You never know who's renting the site next to you at a typical park. Some people have lived in our park for over ten years, but most are seasonal. In other parks, the new neighbor might be a new friend or someone you wish would go away...soon :)
