Would you buy in a golf course development?

[COcheesehead]

[QUOTE=brucethebroker;2250040]

Quote:

Originally Posted by pb4uski I think the risk is significant, especially if the home includes "bundled golf" where by deed you are required to be a member of the private country club whether you golf or not. A friend of mine has such a property in a nice area... he and his wife both golf and it is a very nice life-style for them... but I fear that if golf continues to decline that eventually that at some point the bundled golf will be a liability on the value of their property rather than an asset. /QUOTE] Even on "non-bundled" course neighborhoods, the fees are considerably higher for HOA dues. At least that was what we found when looking a few years ago.

We pay...wait for it...$400 a year.

[timo2]

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Originally Posted by GravitySucks Surprised no one brought up living with such high concentrations of pesticide, herbicide and fertilizer in their back yard. It would concern me.

That is a concern also, to me.

[COcheesehead]

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Originally Posted by timo2 That is a concern also, to me.

Probably higher concentrations in any other high end suburban neighborhood in America because you have an untrained person applying it. Your neighborhood Phil.

[CaliKid]

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Originally Posted by COcheesehead Probably higher concentrations in any other high end suburban neighborhood in America because you have an untrained person applying it. Your neighborhood Phil.

Well said and I agree.

[tb001]

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Originally Posted by GravitySucks Surprised no one brought up living with such high concentrations of pesticide, herbicide and fertilizer in their back yard. It would concern me.

That was definitely a consideration when we bought. In our case, we’re elevated with a significant distance between us and the course. If we had been downhill, I don’t think we would have purchased. This also means no golf balls in our yard.

Our course isn’t tied to the community and is a public course. So no extra fees associated with having the course. It’s highly unlikely that the course owners would ever get approval to build in our community. They actually tried several years ago to add a resort, which we would have loved, but the city wouldn’t approve it.

[RunningBum]

There's also the early morning mowers.

[COcheesehead]

Quote:

Originally Posted by RunningBum There's also the early morning mowers.

Better than late night dogs barking.

[COcheesehead]

First thing we noticed after moving to our course side home was just how quiet it was.

[RunningBum]

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Originally Posted by COcheesehead Better than late night dogs barking.

Good point. A golf course is a good night time neighbor.

[tb001]

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Originally Posted by COcheesehead First thing we noticed after moving to our course side home was just how quiet it was.

Yes! It’s remarkable and one of our favorite things about being here. Monday mornings they do maintenance on the course, but we’re up anyway. Compared to most places we’ve lived, this is paradise noise wise. And the view is incredible.

[Scrapr]

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Originally Posted by RunningBum Good point. A golf course is a good night time neighbor.

Well the night time/early early morning sprinkler sets helps keep out the riff raff. Dad built a home for us on the 8th fairway. Right at a good drive from the tee. Had at least one go clear over the house and land in the street. We just kept an eye out when we were in the backyard. Ball lands in the yard just be nice & throw it out on the fairway. Dad had big 12-14' tall windows. But somehow there were strike resistant. They never broke. Dad did put up a netting on the window that directly faced the tee in the later years. Mom would collect balls out of the flowers. When the boys played golf we got "recycled" balls.

Overall we enjoyed it. Middle brother has lived on a course for 30 years

[RetMD21]

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Originally Posted by Packman We live in a golf course community in AZ, but not on the course. The lot premiums run from $100k to $200k. When the base price of home is $250,000 to about $500,000. So lot premiums can exceed 50% of the cost of the home. Doesn't seem logical to me. Then there is the occasional broken window, and the noise of mowers and golfers at 5 AM. I wonder if homeowner's insurance is higher if you live on the course? What if you get a golf ball in the head while on your patio? Lastly, in Arizona, there is always the continual issue of running out of water. I'll take our view of the open desert instead.

Are you concerned about rising HOA fees as water gets more expensive? We looked at an established GCC in AZ and understood the the HOA now owns the course. I don't know what would happen if the homeowners voted to close the course. I am not sure that there is a good option for reduced maintenance since the climate isn't hospitable to grass.

[sidewinder0024]

We live in a golf club community in Orlando, Florida and I wouldn’t do it again. Several golf courses across Central Florida have closed in the past couple years because of the decreased interest in the sport. It’s very quiet and beautiful in my neighborhood all the time. The golf course recently closed and now the owner wants to put in 180 single family homes. We are fighting to keep our neighborhood like it was but we are waiting for vote of the county government’s to see if the homes will be allowed. If allowed it will cause increased traffic, noise and decreased home values for all current home owners. I hope the development is stopped but doubt that it will.

[rk911]

nope. we don’t play golf and waaaaaay too many CCRs.

[Monterey298sc]

Never ever in a higher tax liberal state

[gooddog]

This is something like asking if stocks are good/bad investments. Some are good, some are bad. Every club has different financial footing,and it is easy to find out. Ask for the financials, talk to the GM, head pro, and membership director. The great thing about gated CC communities is the mentalities, lack of bums, and social connections that come with such communities. Be sure to ask to be a 'member for a day' to check out the club.

[NoiseBoy]

https://thegolfwire.com/2019-golf-industry-report/

There were 434 million rounds of golf played in 2018, a 4.8% year-over-year decline attributable in part to the third-wettest year on record nationally dating back to 1895 (National Oceanic and Atmospheric Association).

The total U.S. golf course supply declined by 1.2%, with the opening of 12.5 new 18-hole equivalent golf courses and 198.5 course closures. Closures have outweighed new openings nationwide since 2006, an ongoing correction of supply and demand within the market that followed an unsustainable 20-year building boom during which more than 4,000 courses opened, boosting the U.S. supply by 44%. The U.S. remains the best-supplied golf market in the world with 14,613 facilities and 16,693 courses – more than 75% of which are open to all players, the highest public-to-private ratio in history.

Note that closures have outpaced openings since 2006. There are lots of articles that explore the reasons for this and the most common culprit given is the sheer amount of time it takes to play 18 holes of golf. As others have advised; proceed with caution.

[FreeBear]

Interesting discussion, not even aware of all the ramifications of golf course living. Not a golfer, but filing away for future reference. Thanks all!

[Smitty700]

The Wall Street Journal had an article on this topic last week. The gist of article was that in some cases where golf courses have gone belly up, neighboring homeowners have stepped in to prevent a consequential decline in their home values.

In one example they showed in Shelman Bluff, GA, homeowners pooled money to purchase the neighboring bankrupt golf course, and some are now trimming bushes and mowing grass to cut maintenance expenses at the course.

It may be under a paywall, but here's a link to the article: https://www.wsj.com/articles/golf-ho...acdec9eca6f077.

[ShokWaveRider]

Again, I think if one lives in an area where folk cannot afford to be members anymore or the company thinks that there are not enough clientele, then yes they are subject to decline. But if one lives in an affluent or semi affluent area then they will survive. As far as I am concerned this is another reason for not living in a real LCOL area, at least not on a golf course. Once again you get what you pay for. I highly doubt if Pebble Beach in California will go the way of the Dodo.

Or, there are too many golf courses in close proximity to each other to be sustained by the existing clientele. WGV 10 miles west of the coast is very worrisome because of this reason. People would rather play the PGA and Sawgrass courses than WGV if push comes to shove.