Travler wrote It appears they buy a lot , put in electric, pad, septic, etc. and own it for life. |
Not quite. I did a bit of reading and it seems that these co-ops merely lease the lot. Not sell it. So in effect, what you are paying for is a share and a right to occupy a part of their property. You don't really own it. That's why they can set limits to you when it comes to the modifications that you can do to the lot, and why you are required to pay monthly dues to them. If you don't pay their dues, it might be reason for them to evict you from your property and offer the lease to someone else.
I personally heard a lot of raves about co-ops. But for me, I'm still not yet sold on the concept. If and when the time comes that me and my wife would have to retire from RVing because of age or illness, I'd much rather prefer to retire in my own property where I don't have to worry about any monthly dues.
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