Philadelphia and its suburbs are well-known as a bastion of top-tier golf. Merion Golf Club in Delaware County recently hosted the U.S. Open, Aronomik in Chester County is regarded as one of the nation’s best, and Saucon Valley has earned a stellar reputation after years as the private club of Bethlehem Steel execs. When you combine public, private and community courses there are more than 150 options in and around the city of Philadelphia. So is living on the course your idea of a real estate hole-in-one? There are pros and cons to this type of situation.
Why golf communities are so attractive?
First and foremost, money. Studies have proven that homes in a golf community often sell at a 40% premium to similar homes in more traditional communities. If you are purchasing in a new community you may see a return on investment greater than other opportunities. Of course ROI is always speculative and you should do additional research before making your move. Additionally, golf course communities often offer walking-distance amenities such as clubhouse and swimming pool. Be prepared, however, these services are often not included in traditional community fees and may require you to join a separate entity. Finally, and perhaps most obvious, golf course communities provide an easy outlet for golf enthusiasts to get onto the course frequently. Depending on the club and your relationship, you may be able to play the hole outside your back door whenever you want!
What things should one consider regarding golf communities?
As mentioned before, many golf course communities don’t offer residents anything more than a traditional residential community would. You may not have golf privileges, the clubhouse may be for members only and the waiting lists at some clubs may last longer than you desire. Additionally the dues and fees may end up making the ROI on any real estate investment less-than-desirable.
Additionally, you must consider that in most golf course communities the price you pay for having the fairway out the back door is that you have others using your backyard throughout the day. If the course opens to members at 6:00, and your bedroom sits outside the second tee be prepared for a 6:15 wake-up call from a less-than-perfect golfer verbally encouraging his or her golf ball to go straight.
Finally, there is property damage that can come from living in an area where golf balls are flying through the air. There are many differences of opinion on who is responsible for damage done by errant golf shots (if you are in Pennsylvania or New Jersey we advise you to speak with an attorney to get a detailed answer) but whomever is eventually responsible financially, you are still the one with a broken window that needs to be repaired. While most clubs and housing are built to minimize this possibility, golfers continue to amaze each other with their ability to hit the ball in places you never expected.
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