Until a decade ago, a home on a golf course was prime real estate. In fact, it was almost a guarantee of rising property values and return on investment.
However, in recent years there’s been a decline in the luxury golf community market. Overbuilding, an economic downturn and a decrease in the number of people who play the sport has put many golf courses in jeopardy and made homebuyers, and real estate developers cautious.
The good news is that the industry appears to be on the upswing (pun intended) homebuilders and course owners are starting to redevelop golf communities to appeal to a wider demographic — and it’s currently a buyer’s market.
So you’ve done your research, you’re aware of the risks and you’re ready to search for a home on a golf course. But what are the pros and cons when it comes to golf estate living?
The primary appeal of living near a golf course is the view from your backyard: gently rolling greens, clusters of trees, ponds, lakes and wildlife sightings. However, that view comes at a price. Pesticides and fertilizer runoff, in addition to the large volumes of water used for irrigation, are harmful to the environment and in some cases can put area homeowners at risk.
But just as developers are rethinking golf course designs these days, they’re also starting to employ more sustainable maintenance and management practices, a trend that is likely to continue as course owners are also finding that it’s cost effective.
It depends on where your home is situated. Your home might be overlooked, but depending on where your house is situated, it may get pelted with golf balls and invaded by golfers tramping through your yard to find them. What’s more, the real estate covenants of most golf communities give homeowners very little recourse for broken windows and trespassing.
One way to avoid this is to consider the home’s location along the fairway before buying. Homes on the right side nearest to the tee are at the highest risk for property damage and uninvited guests, while other areas around the course see fewer such nuisances.
While a golf course may be quiet at night, landscaping begins around sunrise, so you may have to put up with the hum of lawn mowers early in the morning. The same is true of passing golf carts, and, depending on how close you live to a tee or one of the holes, you may also hear some choice language.
It’s easy to limit though, ask your potential neighbors about noise or other potential problems.
The homes within a golf estate are often bound by strict covenants. While beautifully maintained homes along a manicured course can certainly enhance value, you should read the fine print. There may be rules against putting up nets or limits on construction.
As with any real estate purchase, buying on a golf course comes with risks and rewards. So do your research.
You can build your dream home on the Wedgewood Golf and Country Estate, situated on the outskirts of Port Elizabeth.
There are 600m² plots available from R275,000 in this unique development. On your doorstep you can have a signature golf course and only 10 minutes away explore beautiful beaches, shopping centres, schools and restaurants.
The estate will consist of over 840 architecturally designed houses located within three villages. To find out more, speak to Heidi Douglas (083 335 3862) or Sharon Alvarez (082 673 2154) from Chas Everitt Nelson Mandela Bay.