If you own an RV, you know the perils and pitfalls of finding a space to park your RV, especially when visiting the best campsites, resorts, and wilderness areas in the U.S.
With thousands of RVers visiting these tourist attractions annually, convenient parking isn’t guaranteed. You’ll have to scramble to reserve RV space months before a camping trip or pay exorbitant prices (due to low supply).
Because nothing hampers the fun of an RV road trip or camping trip quite like limited parking, you may have considered RV lot ownership.
Owning an RV lot isn’t just a way to guarantee parking space. It’s a potentially lucrative business opportunity, too. Today, let’s explore what RV lot ownership is, how it works, and why it might be the right choice for you.
What Exactly is an RV Lot?
In a nutshell, an RV lot is a dedicated parcel of land to which you own the deed. As an RV lot owner, you own a small segment within an RV resort or park, which is reserved for your RV as long as you make payments.
You can use it, rent it, and more!
Depending on where you buy, you might find available deeded RV lots in RV subdivisions with gated communities, RV resorts, and much more.
Compared to buying a vacation home with an RV pad or purchasing large land parcels, buying an RV lot is quite affordable. This low upfront cost further increases your profit margins—should you choose to rent out your lot when you aren’t personally using it.
There’s a thriving market of RV owners seeking good rental spaces. Swoop in and provide that service.
Average RV Lot Sizes
Before you decide whether to sign on the dotted line for an RV lot deed, you’ll want to know just how much room you’ll have for your RV and any future structures you may wish to erect.
The average RV lot within a resort or campground can be anywhere from 12 feet to 25 feet wide and around 60 feet long. At many resorts and campgrounds, lots for purchase are usually a little larger than the rentable spots, as landowners will need room for the sheds, fences, and other structures they choose to build.
In some cases, you’ll be able to find RV subdivisions that have much larger RV lots for sale. Specific deeded lots might be 1/10th of an acre large to several acres large, depending on their location, their proximity to lakes, and the surrounding attractions.
Make $50-$500 each month renting your garage, basement, shed or other storage spaceList Your Space
Reasons to Buy an RV Lot
There are lots of big reasons why you might consider buying a private RV lot – let’s take a closer look.
The average price of an RV lot can vary heavily. For example, communal land can be purchased for around $10,000, but more popular RV resorts and subdivisions might charge hundreds of thousands of dollars for small parcels. It all depends on factors like:
● The size of the private RV lots in question
● Whether the RV lot allows you to place permanent structures and improvements
● Whether the RV lot is next to traditional homes
● What the RV lot is located next to (what amenities, like restrooms, lakes, scenic views etc. are nearby)
Generally, the more desirable the deeded RV lot location is, the more expensive it will be.
Say that you find an RV lot for $50,000.
Renting an RV lot costs thousands of dollars each time, assuming that you stay in the RV space for a few-day window several times a year. In no time at all, rental costs will start to rack up. Over the several-year span, you’ll spend far more money renting RV lots again and again than buying a private lot for $50,000 and paying down the lease over time.
When you buy your own RV site with a loan, the terms and conditions are similar to when you buy any other plot of land. You’ll have to make regular payments plus interest. But since RV lot principal amounts are nowhere near as expensive as those for homes, you’ll be able to pay off the cost of your RV lot in no time (if you don’t buy it outright).
For those who aren’t buying an RV lot for personal use, owning an RV is a much more affordable real estate investment compared to other property investments.
It’s up to you to determine whether buying an RV lot is truly economical, given your financial situation. Still, for many RV owners, purchasing makes more financial sense than renting.
A Secured and Accessible Place for Your RV
If you purchase an RV lot of land at your go-to campsite, you’ll never have to worry about getting to the front of the line for RV lot rentals or reserving your space well ahead of time.
This parcel of land will provide unparalleled peace of mind, allowing you to focus on the fun ahead (rather than the logistics of planning out an RV road trip). If you treat your RV as a stable or stationary property a lot of the time, buying an RV lot is an especially wise investment.
It’s a Customizable Storage/Parking Option
Depending on your RV lot and the local community, making permanent improvements to the parcel of land you purchase may be possible.
For example, you can add structures like fenced areas for your pets and sheds. Some people with larger RV lots have erected small homes beside their RVs with open-air kitchens and other spaces.
If you decide to sell your RV lot, you can make a bigger profit, thanks to the added amenities.
Fosters a Sense of Community
As a full-time RVer, you may long for a sense of community. While many RV owners are nomadic at heart—always ready for the next road trip adventure—you may miss the dependability of a trusted neighbor.
Purchasing an RV lot can help you connect with fellow RV owners who’ve purchased parcels of land nearby. It’s not uncommon for many RV lot owners with adjoining lots to become friends, host parties for each other, and so on.
In this way, the sense of community you gain is an intangible but nonetheless important, benefit of RV lot ownership.
Then there’s the potential for profit with your RV lot. If you own the land on which your RV sits, you can rent it out when your RV isn’t there.
Say you purchase a parcel of land for your RV at a lakeside lot. Then, six months into RV lot ownership, you get the urge to travel again. You pack up your RV and hit the road.
If you invest in an RV park parcel, that land can be used to make money for you! You can post advertisements for the land and rent it out to other RV owners, then pocket the money for future RV road trips. With little to no time commitment, you could make a profit on land you legally own.
Should you add a fenced dog area or nearby shed, you can charge even more money to renters who want to use your RV lot.
It’s no stretch to say that buying an RV lot could lead to a serious secondary income source in the future!
Are There Downsides to RV Lot Ownership?
Even with all those benefits, you’ll also need to be aware of some potential downsides.
For example, there might not be any availability in your chosen destination. So, for example, if you want to buy land at your favorite vacation spot or go-to lakeside destination, you’ll have to wait until a lot goes up for sale.
In addition, once you purchase your lot, you’ll need to stay on the land for extended periods of time to get your money’s worth. Purchasing an RV lot will only be a more affordable alternative than renting if you live on your land full-time, which might conflict with your RV travel goals.
Pro Tip: However, if you rent out your RV lot while you’re away through RV storage marketplaces like Neighbor, you’ll not only rake in savings but a profit, too.
Lastly, your parcel might be beholden to certain covenants and rules. You might even find that your lot is part of a homeowners association, complete with fees and rules you must abide by. HOA restrictions will ultimately limit your development options, especially if you plan to rent your lot for a profit.
Is Buying an RV Lot a Good Investment?
When all is said and done, it’s up to you to determine whether buying an RV lot is a good choice for you, your vehicle, your family, and anyone tagging along on your adventures.
For many RV owners, owning at least one RV lot is a stellar choice and an excellent investment.
Remember, even if you aren’t parked on the RV lot all year round, you can always rent out the lot temporarily to generate some extra income, which you can funnel into your RV lot payments. Check Neighbor out today to become a host and start renting out your RV lot.