Buying in a Golf Community? Make Sure You Understand These Issues!
Golf communities and other large planned communities have some specific issues that should be considered.
First, do you know how much the monthly homeowners association fees will be? What does this fee include? How often has the fee increased in the past? Is this going to be a hardship for you?
Second, what are the homeowners association restrictions? Are there any rules and regulations that would trouble you? Is the developer still in control of the association or has control been turned over to the homeowners? Virginia law requires that the seller provide the buyer with a copy of the homeowners rules and regulation. Make sure you read these carefully.
Third, what are the golf membership fees? Monthly dues? Food minimums? Is membership mandatory? Is a portion of the initiation fee refundable? Is the membership an equity membership? Who makes manages the club? The fees vary widely from club to club here in Williamsburg
Fourth, are you considering a home that is on the golf course? If so, you must be excited about the view! On average, a golf view increases a homes value by about $100,000. However, have you considered the noise of the carts and the lawnmowers in the morning? Also, the impact of the golfers on your privacy? Is the property "in the range of fire" from golf balls?
Let us help you analyze all of the factors!