Investing in tee time: What makes a golf property worth your money?
A home on a golf property is the ultimate investment.
Teeing off anytime you feel like doing so, wandering around landscaped surroundings, and living on prime property, have perks you can never resist.
Of course, there’s no such thing as a perfect investment. Properties on golf courses have their own risks.
The good news is a discerning eye, some research, and lots of good judgement will make sure you’re putting your hard-earned money in the right place.
Consider the following when investing in a golf property:
- Proximity and accessibility
Golf properties that are “destination courses” – located high up in the mountains and the like – have their own set of patrons.
But there’s certainly greater demand for those found near major transportation hubs and routes.
They enjoy what is called a heavier attendance, which translates into a steady source of income for the property. This, in turn, guarantees that the course won’t close down anytime soon, and keeps the value of the golf property up.
- Age and neighborhood
These play a big role in determining the value of your property overtime. As a rule of thumb, older golf properties are only good investments when properly maintained.
On the other hand, younger properties (those less than 5 years old) should be completely developed. Aim for a golf course that is at least 5 years old and has a reliable financial history you can track up to its third year of operations.
Have a go-see around the neighborhood where the golf property is located. Check for shops, stores, and other indicators of a good neighborhood.
- Services and Membership
Don’t expect free membership to the golf course the moment you buy property within the vicinity.
Make sure the price tag on the property includes membership and use of golf club services, if any.