Fairways to Heaven
The last two decades have seen stellar growth in the game of golf, with an estimated 56m players worldwide and predictions of a further tenfold increase in numbers over the next five years. Property developers, not surprisingly, are tapping into this investor pool, intent not only on meeting course design challenges, but also in harnessing new ways to promote luxury greenside living. “Golfers represent an enticing marketing demographic,” explains sports branding expert Michael White, “with a growing percentage of younger, affluent players hitting the greens and adding a hip, youthful spin to what has traditionally been silver market territory.”
“Golf property also provides a double whammy of financial yields and pleasure,” adds James Deacon of the Golf Consultants Association, “although investors these days expect more than just the course, with a new breed of golf-centric second-home locations offering enticing ancillary benefits to would-be owners.”
So what should potential property buyers take into account when considering a fairway home purchase?
Don’t buy too near the fairway. You want views, but not if it means being woken up by a dawn chorus of lawnmowers. Take note of the width of the greens and the distance of the houses from the tee boxes.
Play the course to see where the balls land and golfers congregate. Play a resort course several times – it has to be sufficiently challenging to hold your interest in the years to come. Find out if there are plans to change the course layout or expand facilities and check if owners get reciprocal privileges at neighbouring courses.
Get to know fellow residents before signing on the dotted line. If you don’t click with your neighbours, you may find your holiday social life distinctly under par. Make sure there are sufficient leisure attractions to keep non-golfing family members occupied.
Fee structures vary from resort to resort, so check the small print. Common extras include community and service charges, club membership fees, social fees and joining fees. Some resorts throw in golf membership for a fixed period, others, it’s a pay-as-you-go set-up.
Rental income is a great way to offset the costs of a second home, but be realistic about how many months of the year you can feasibly do this for. If you’re planning to rent your home during peak season, you’ll have to consider alternate ‘shoulder periods’ for your own use.
Deed restrictions are notoriously strict in golf communities, so make sure you fully understand the rules – these will likely cover everything from your property’s hedge height to barbecue curfew times. The same applies to golf course protocol. Is it open year-round? Do guests have to pay to use? Rules are there to help maintain the value of your property, but you need to be able to live with them.
Laura Henderson is editor of luxury property magazine Abode2 www.abode2.com
“Golf property also provides a double whammy of financial yields and pleasure,” adds James Deacon of the Golf Consultants Association, “although investors these days expect more than just the course, with a new breed of golf-centric second-home locations offering enticing ancillary benefits to would-be owners.”
So what should potential property buyers take into account when considering a fairway home purchase?
Don’t buy too near the fairway. You want views, but not if it means being woken up by a dawn chorus of lawnmowers. Take note of the width of the greens and the distance of the houses from the tee boxes.
Play the course to see where the balls land and golfers congregate. Play a resort course several times – it has to be sufficiently challenging to hold your interest in the years to come. Find out if there are plans to change the course layout or expand facilities and check if owners get reciprocal privileges at neighbouring courses.
Get to know fellow residents before signing on the dotted line. If you don’t click with your neighbours, you may find your holiday social life distinctly under par. Make sure there are sufficient leisure attractions to keep non-golfing family members occupied.
Fee structures vary from resort to resort, so check the small print. Common extras include community and service charges, club membership fees, social fees and joining fees. Some resorts throw in golf membership for a fixed period, others, it’s a pay-as-you-go set-up.
Rental income is a great way to offset the costs of a second home, but be realistic about how many months of the year you can feasibly do this for. If you’re planning to rent your home during peak season, you’ll have to consider alternate ‘shoulder periods’ for your own use.
Deed restrictions are notoriously strict in golf communities, so make sure you fully understand the rules – these will likely cover everything from your property’s hedge height to barbecue curfew times. The same applies to golf course protocol. Is it open year-round? Do guests have to pay to use? Rules are there to help maintain the value of your property, but you need to be able to live with them.
Laura Henderson is editor of luxury property magazine Abode2 www.abode2.com