Friday, January 12, 2018

Should You BUY a Campsite?

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    With reservations almost impossible to get in the most popular areas, should you buy a campsite for your very own?
    *It is real estate and could be a wise investment
    * It’s yours when you want it. You might even leave your RV there and come and go as you please.
    * When high standards are imposed, such as no RV older than X years or smaller than Y feet, the “neighborhood” holds its value. 
    * Financing may be available.

    * It is real estate and could be a lousy investment
    * You always camp in the same place. It's a good choice if it’s near your favorite fishing or hunting spot, or close to family,  or in a place you never tire of,  but it isn't for you if you plan to travel.  
    * If it’s a time share, it’s available to you only during your time slot. 
    * Even if you rarely use the site you may be subject to owner association fees,  real estate taxes, utilities, insurance.
    *  Standards may be imposed, such as no RV older than X years or smaller than Y feet. Your own RV may not meet the standards in a few years.
    * Financing may not be available. 


    *Resort campground with full facilities such as swimming pool, golf course, clubhouse, fitness facility. Management may rent your site when you’re not there,  generating income for you. On the other hand, you may also be prohibited from sub-letting.
    * Time share. (You buy certain weeks to stay there and pay a yearly membership fee.)
    * Membership in a campground network with many locales, allowing you to visit many areas. Length of stay may be limited and co-pays apply. Membership may or may not be transferable to a new owner or to your estate.
    * Bare land. Where zoning allows,  you might buy one or more acres all your own.  Zoning permitting you can put in electrical power, a well and septic tank and have full-hookup while here.

    * Zoning could change, turning the area into something different from what you bought it for.
    * Land values fluctuate. Real estate prices can rely on many factors. For example, your campsite in a resort’s older area could be worth  less if the developer opens a new area in the same campground.
    * Do your due diligence. The site could be in an area subject to flooding or forest fires.

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