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RV Lot Loans

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I am starting to consider buying an  RV lot in Florida, to stay in the winter months.

Has anybody had experience in what type of financing/mortgage is available for this type of purchase?? 

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We rent by the season in south Texas.  Rent for an RV lot here runs about 2500 to 3000 per year, depending on the park and the amenities.  Much better than buying in my estimation.  We RV'ers are a mobile lot and when you decide to pick up and move there is no problem selling your lot.  No interest to pay, per day rate comes out to about 500 dollars a month if you stay for six months.  Electricity is the only additional charge.  Plus, if you buy a lot you may be paying property tax, depending on the local laws.  You are given a chance to renew each year before the lot is put up for rental.  Different parks, different rules.  I would never pay the rates that some parks are charging for buying a lot unless I planned to stay there for the rest of my life.

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Tom, I agree, RV lots sales is almost like buying into a time share, it usually entails either monthly or annual maintenance fees which tend to go higher each year. And as you said if you get tired of the place, you can crank up and leave at your own discretion. I was almost suckered into one of those own your own once, but after reading the fine print twice, there were too many gotcha's.

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On 12/25/2016 at 7:11 PM, msgtnobody said:

I am starting to consider buying an  RV lot in Florida, to stay in the winter months.

Has anybody had experience in what type of financing/mortgage is available for this type of purchase?? 

Personally I would never buy a lot. You become locked to that spot. Tom and Kay are right. Travel and visit different areas.

Bill

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On 12/25/2016 at 7:11 PM, msgtnobody said:

I am starting to consider buying an  RV lot in Florida, to stay in the winter months.

Has anybody had experience in what type of financing/mortgage is available for this type of purchase?? 

My DW looked at a place in FL similar to what you were looking to buy. 

The price was the cost of new SUV, then was the Maint fee of 800 a year, then there was the taxes of 390 a year, and the "we will in house finance you" at 12.5% over 10 years.  $51K for the 1st 10 years to visit (provided the fees dont increase which they will cause we are in the good ole USA) and play golf maybe 2 x's a year for a week at a time is way to expensive. TBUTLER is right, might be a bad investment and you definitely don't want to get stuck in something.  

Real figures with my situation - If we staying 6 months out of the year its 2595+electric plus the cost of a golf cart ($3900 New) cause you cant drive to the amenities in the park. You car is on your "pad" with the coach but you can only drive it to enter the park and to exit, not to the pool.  AND I GOTTA PAY TO PLAY THE GOLF COARSE!!!!! ($67+cart rental for members)


This may not be bad considering that about the average for rentals anyway so why own and be obligated to write the check when you can rent and stay where ever you want when you want. 

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