Vacation property on golf courses lures golfers and non-golfers alike, offering a social lifestyle in a ready-made community and access to maintained open space. But is this utopian existence all that it’s cracked-up to be? Here are some caveats to consider as you begin the process of looking for your ultimate golf property.
Most people choose golf developments because of the certainty of open space, selecting natural settings with water features and wildlife corridors. Homes are often new and loaded with all the modern amenities including easy-to-maintain backyards positioned in the heart of beautifully planted and manicured surroundings. In addition, many developments offer club memberships with golf, tennis, spa, and dining privileges.
However, along with club privileges come club price tags. Buyers must comply with the development’s rules and regulations; this is achieved by making buyers become club members, who must, in turn, abide by club rules. And, as a club member, they must pay club dues, which are spent maintaining facilities and services such as landscaping and security. There may also be many homeowner rules to live by, including stipulations on how and what you are allowed to build, what color you can paint your house, and what trees can and cannot be trimmed or cut down.
Master Plan
Make sure you research your development’s master plan for its community. If you’re looking to buy in the early stages of development, you want to make sure that the things you love about the property won’t be affected in the long run (i.e., your view, the wildlife preserves, and open space). You want to know what kind of community you’ll be living in the next ten years. Make sure you also research the covenants built into the sales contracts, such as house size and guidelines on landscaping.
Do Your Research
For your investment to pay off, buyers need to choose developments that will hold their value. Unique natural settings, well-built and maintained homes, and careful development of land all contribute to the long-term performance of your investment. Another big contributor is good management. If management can’t make money from the golf course, it doesn’t get maintained, leading to plummeting interest in the development. In addition to quality management, look for golf courses developed by reputable architects.
Other Considerations
• Homes near the tee box may be nosier and less private than homes on the fairway.
• Look closely at whether the house or the yard is easily hit by golf balls.
• Make sure the house is constructed with a material that is not susceptible to damage from golf balls. Most homeowners associations ban the use of netting in backyards due to their unsightliness.
• Does the development feature custom home options or are the buyers limited in the construction materials they can choose from?
• Golf carts can be noisy. If this is bothersome, make sure your home is away from the cart path.
• How much does it cost for a round of golf? Is this something you can/want to afford?
Life on a golf course can be a straight shot to happiness… if you check it all out before you swing into action.