If you are retiring this year and have decided that you will downsize to a condominium in a golfing community, then there are three important things you need to consider when selecting your new home, including:
Consideration #1: The Quality of the Golf Course and Other Available Amenities
Since your retirement home is an investment for your future, it is vital that you protect your investment when making a purchasing decision. One very important factor when people choose property near a golf course is the quality of the course itself and the other amenities available to residents.
For example, if the golf course isn't exceptional and a new subdivision pops up that has one that is, then the value of your condominium will drop because people will want homes in the newer subdivision. For this reason, consider buying a condo in the area with the absolute best golf course and other amenities such as swimming pools and party spaces.
Consideration #2: How Close to the Golf Course You Want to Be
Once you have decided what golfing community has the best course and amenities in the area you want to move to, then you need to think about just how close you want to be to the golf course itself. While living right on the green or fairway will give you a beautiful view to look at, there are some potential downsides to think about.
If your home is along a fairway or a tee, then it can be struck by mishit golf balls. The golf balls will break your windows and damage the stucco or wood siding on your condominium.
A condo that is on a tee will be noisy because people will talk and laugh while waiting for their turn to play. If your condo can be seen from the course, then people will be looking into it as they stand around.
In addition, all of that grass needs regular maintenance with noisy mowers and blowers. And, all of that mowing and lawn maintenance will give off odors of freshly cut grass and landscaping fertilizers that you might prefer not to smell.
Consideration #3: The Resale Value of Your Property Over Time
Finally, once you have chosen your community and have decided how close you want to live to the golf course itself, then you need to consider the future resale value of your condominium. Your resale value will depend on many factors, such as:
the future popularity of golfing
the long-term maintenance of the course
the financial stability and level of restrictions of the homeowner's association
While you cannot control the future popularity of the sport or the HOA's maintenance of the course, you should review the HOA's financial documents and ensure that it is in solid shape and not horribly restrictive so your condominium will be attractive to future buyers.
For help with finding the right condo for you, contact a real estate agency in your area.Share