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There Are No Mulligans:
Tips to Successful Home Buying in a Golf Course Community
By Steve Schoepfer, Realtor GRI ABR
The secret
is out. Golfers from around the world are discovering what the locals
have always known: golf is terrific in Southwest Florida.
When winter
temperatures up north dip into single digits, more and more golfers migrate
south to the warmth of the Gulf Coast. And each year, more and more of
our visitors contact me to help them find a home in a Southwest Florida
golf course community.
It can be
intimidating knowing how and where to begin looking for that ideal "fairway
lie." After all, there are more than 85 exclusive golf course communities
in Collier and Lee counties alone. Where do you begin?
Here are
a few tips to help you get started.
Know your
reason for buying. There are many reasons to buy in a golf course
community. Whether you're an avid or occasional golfer, looking for investment
property or simply a home with great views and resale potential, knowing
your motivation will help narrow the field.
Know the
type of golf membership you want. Different communities offer different
types of golf memberships. To find one that fits your needs, ask yourself
what kind of golf you like to play and be honest!
- Traditional
equity membership: An avid or low-handicapper who wants to play
4-7 times per week in season, and who wants preferred tee times, will
generally prefer a traditional equity membership. Usually, these courses
have a low number of members per 18 holes as well as a refundable deposit/initiation
fee, usually in the $50,000 - $150,000 range. Several of these communities
offer more than 18 holes of golf. The term equity refers to the portion
of the initiation fee returned to you should you terminate your membership.
- Bundled
membership: The recreational golfer who only plays 2-3 times per
week in season and doesn't mind flexible tee times, may prefer a bundled
golf membership. Here, the full family membership (husband, wife and
children under age 22) is "bundled with" or included with
the home purchase. While there is a higher ratio of members per 18 holes,
there is no deposit/initiation fee and the annual dues, which include
all greens fees, are nominal. Members pay cart fees only. This type
of membership is quite popular among investors.
Know the
style of home you want. Most of the golf communities offer a variety
of home styles: Estate homes, detached villas, attached villas, coach/carriage
homes or condominiums. What's the difference?
- Estate
Homes:
Generally, these are large, custom-built single-family homes on spacious
lots.
- Detached
Villas: These are slightly smaller single-family homes on narrower
lots. Frequently, lawn maintenance is included in the homeowner association
dues.
- Attached
Villas: Sometimes referred to as a duplex, these are side-by-side
villas, which share a common wall. Because no one lives above or below
you, it lives like a detached villa. Lawn maintenance is generally included
in the homeowner association dues.
- Coach/Carriage
Home: Refers to spacious multi-family dwellings, often four units
per building, two up and two down. Coach or carriage homes have one
or two-car garages, which are generally attached. With this style of
home, someone would be living above or below you.
- Condominiums:
Generally refers to the most affordable type of ownership, with more
than four units per building. If a condominium building has more than
two floors, it will have an elevator. Many condominiums will have a
carport rather than a garage.
Know your
lifestyle amenities. What amenities besides golf interest you? Golf
communities offer a wide assortment, including:
- Lighted
tennis courts
- Olympic-sized,
heated swimming pools
- Exercise
and fitness centers
- Spas with
fitness training, massage, etc.
- Fine and
casual dining
- Beach
clubs
- Marinas
- Social
activities
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