Visiting the golf community developerreal estate developer checklistSome questions for the developer. Let’s start with How wide are the fairway corridors? Will you be able to hit your power fade from the third tee
without taking out Mrs. Besom's kitchen window? "Do people automatically get voting equity in the golf course when they are purchasing their home, or is it an additional option?" If the answer is, the purchaser gets no equity, and the developer is hanging on to the golf course, consider that more than anything else, the developer is a developer, and he may have a reason to establish the course for example, as semi-private, charging you outrageous expenses while encouraging public play, or, as we say, the developer is the developer. He may decide to turn the fairways into homes regardless what you think or feel you have purchased.If the buyer gets automatic equity upon purchase, you can bet the barn that the lovely widow Burns who is only there because the late Mr. Burns wanted to be there, and she doesn’t play golf, will have plenty to say about the future of golf improvements. How committed is the developer to maintaining the golf facilities once the development is sold out? Does the golf course or any future golf course development planned, have any environmental concerns that will impact the golf course playability or the golf community real estate values? What about the golf fees? Are there any limitations on the rate of increase? How about the homes themselves. Are they suitable for seniors with simple one level floor plans, or are they multi-storied homes guaranteeing a golf course view for every golf community buyer? If anything happens to the golf course, is the development such that the homes will retain their value? Are the homes adjacent to the golf course subject to any special zoning rules that insure the integrity of the homes attractiveness, or will you be surprised some morning to see someone's rusted RV as the shot frame behind the eleventh green? Are there any caveats with renting out your home? Can you buy a half a dozen homes and rent them out? Who manages the development now, and what are the plans for the future? And my favorite all-time questions to ask the developer is, "Do you mind if I spend a couple of days just hanging around talking with the staff? Can you introduce me to the golf course superintendent? The resident golf pro? How about the clubhouse manager? Any answer short of "Certainly" should be interpreted as a sign to be very careful. As always there’s another temptation to deal with and that is should you purchase pre-construction? The thrill of being among the first, being club member number 8, being one of the movers and shakers is status that can only come with being among the first. Is the temptation worth the risk. Return to golf community buyers guide
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