So you’ve made the decision to purchase a home in a golf community or on a golf course. You should be happy; this could be a fun time for you. Possibly you’ve made the decision to move your primary residence to a golf community, or you might have chosen to purchase a second home or condo near a golf course. Whatever the case, you will undoubtedly be near one of your passions as a result.
You might already have a golf community in mind or a list of requirements to keep in mind as you look. You might want more suggestions, though. These are some of the errors we’ve observed golf property buyers making in the past based on our experience, and we thought you might be interested to know about them so you can avoid them in your own search.
First mistake: failing to give the area enough time to be test-driven.
Although the internet is used by the vast majority of real estate buyers (more than 90%) during their search, it’s crucial to avoid becoming overly dependent on it. Take a neighborhood drive. Consider talking to the neighbors or even renting for a while before making a purchase.
Second mistake: skipping over the community’s covenants, conditions, and restrictions.
Knowing the ‘all in’ costs of residing in a community or being a member of a private club is obviously important. What is the cost of the homeowners’ association dues? Are any special assessments anticipated? Do the club’s food minimums apply? Does the club have a procedure for leaving? Before joining, you might want to discuss a variety of things with someone in the club’s membership department.
Third error: failing to research the atmosphere and culture of the club before purchasing and joining.
Finding your ideal condo or home for golf on a fantastic course, purchasing it, only to discover you don’t enjoy the club, would not be a good day. It is preferable to make plans to play a few rounds before making a purchase and perhaps go to a few club events. Is it open to the public? Is it a private club? How do both affect you?
Fourth error: Putting too much trust in real estate experts for information about the club.
There is no doubt that consulting a reputable real estate expert is a good idea, but it is also best to set aside some time to speak with management and other members.
Mistake #5: Ignoring the procedures necessary to keep the golf course in good condition.
It may seem a little complicated, but it’s important to understand how the course’s grounds-keeping procedures, such as the fertilizing, mowing, and aerating schedules, might affect your property and whether any more ambitious projects are in the works.
Sixth error: failing to find out if the club hosts outside golf tournaments that could influence member play.
Although it would be ideal if the course you are thinking about is reputable enough to host outside competitions or events, you also wouldn’t want those to detract from your enjoyment of the game. Both the frequency and magnitude of those events should be considered.
Ignoring the club’s long-term viability is mistake number seven.
Knowledge of the club’s condition is crucial. What patterns exist in membership? Is the economy strong? Are there any upcoming capital improvements? Do they have a sinking fund for those, or would a special assessment be used to pay for them? You definitely wouldn’t want to own a place in a golf community where the club is suffering.
Putting off doing your homework too long is mistake number eight.
Last but not least, be prepared to make an offer once you’ve done your due diligence. The best places might not stick around for very long if they are in a desirable community and on a great course.