Having a front-row seat to well-manicured, evergreen fairways is hard to beat, especially for zealous golfers, and it’s just one of the perks of living in a golf course community. You could say, “It’s par for the course.” Even if you aren’t an avid golfer, the year-round lush landscaping may be enough to entice you to buy a golf course home. But is purchasing a home on a golf course a good investment? Well, that depends on several factors, of course — not least of which is how much you love to play golf. Let’s take a look at some of the advantages and disadvantages to living on a golf course to help you make your decision.
Pros of Living the Golf Course Lifestyle
It’s not just million-dollar estate homes that line golf courses; some are affordably priced family homes in neighborhoods sprinkled across America. Still other golf course homes are in master planned communities. Golf course homesites can command a premium, of course, depending on the golf course’s location, quality and popularity — and whether you want to have a good view of the course. Home prices are likely to drop the farther away from the course you are.
While home purchases primarily revolve around this important financial aspect, the home’s surrounding environment is also worth considering. For one thing, golf course homesites may be more spacious than others.
And they are typically situated in an idyllic setting, allowing homeowners to savor an unrestricted view of nature (and the golfing action). If the home doesn’t already have a deck, you might want to consider adding one — or even building a multi-story one. You could add some comfortable seating to relish the golf course view at sunset or enjoy a cup of coffee at sunrise.
Some golf course homes have swimming pools, which not only offer a refreshing dip on a hot day but may also increase the property’s value. And players on the course are generally more attentive to the next green, contour or bunker than they are with who is lounging poolside.
There are also the community amenities — beyond the golf course — to consider, such as the clubhouse, where residents can enjoy afternoon teas or an evening meal. Because these communities tend to be more exclusive, they often come equipped with gates and surveillance cameras that can help prevent crime and elevate residents’ peace of mind.
Golf course properties also typically have great resale value, selling at two to three times the value of an average home. Plus, they are most always within range of great restaurants, boutiques and may have their own schools within the community.
Cons of the Course
While airplane pilots must present their flight plan to the tower before approach, a person swinging a golf club is not bound by any such requirement. Windows on homes and vehicles near golf courses are magnets for golf balls. If there’s a true amateur on the course, the golfer may not have any real sense of which direction their ball may go. Most golfers will at least shout “fore!” to warn people that a ball is off course and headed their way.
Those luscious green fairways don’t manicure themselves, either; the groundskeepers must ensure the entire course is well groomed by the first tee time. Translation: If you are a light sleeper, the machinery outside your bedroom window may awaken you before your alarm does. There’s also the matter of privacy, as golfers and spectators may wander close to or be able to see into your backyard.
Golf course homes are normally governed by a homeowners association (HOA) that issues a set of rules, regulations and dues, so be aware of what those entail as they could affect what changes you can make to your property. Before buying, you’ll also want to conduct a financial wellness check on the golf club to ensure it is a sound and stable operation. You wouldn’t want to live next to an obsolete course, which would negatively affect property values. Another point to remember is that the greens and cart paths belong to the golf course country club; residents are not permitted to use them for a leisurely sunset stroll or to take the dog for a walk.
Members Only?
From coast to coast, HOAs have tested the waters to see if requiring residents to pay dues for an amenity would affect property values. When developers began building golf course communities in the early 2000s, many HOAs required homeowners to purchase a club membership. However, this has proven to be unpopular. “Prices for homes that come with mandatory membership in a golf club are way below what they should be selling for,” Ken Johnson, a real estate economist at Florida Atlantic University, told The Wall Street Journal. Depending on where you buy or build, however, you may still be required to purchase a club membership — or it may be included when you purchase the home, so be sure to verify any membership requirements prior to making your investment.
Some clubs may charge a one-time initiation fee, while others may require an annual fee. The fees vary, depending on the club, but members may pay anywhere from $3,000 to $10,000, annually for private clubs, according to the Golf Membership Spot. Yearly fees may also include unlimited use of the club, but cart and caddy fees are typically extra. There also may be a minimum purchase on food and beverages. Again, check with your golf club for those details or if they offer any discounts for nearby residents.
Living in a golf course home is an experience that only a small sliver of the population gets to enjoy. So before you make plans to tee off, take time to do your research to ensure you find the right golf course home for you.