Golf Condos and Homes
Summary: Golf condos are the emerging big business that has recently surfaced with golf course design and construction.
“Build it and they will come” may be a too-worn out proverb of the movie Field of Dreams. But if these green fields are a Jack Nicklaus golf course estate I’d be running so fast as to be the first to come. Who wouldn’t run so hard after seeing those magnificent luxury condominiums along the fairway at Bay Creek, with amenities that include the 18 hole Arnold Palmer Signature Golf Course and 18 hole Jack Nicklaus Signature Golf Course.
Golf condos are the emerging big business that has recently surfaced with golf course design and construction. In the United States alone, golf condos and homes now total 1.45 million units in 3,600 residential communities. And these homes triple or quadruple the price of a classy homestead in a similar setting. According to Golf Research Group, the feasibility of these homes is owing to the environment golf courses offers, most especially since the course itself is included among the amenities. The designer’s reputation plays an integral part of the selling, too. A name like Jack Nicklaus tagged along golf course estates would surely justify $245 million worth of properties.
Golf condos and homesteads along the fairways are never hard to market, when these units receive one huge free advertisement. Like the Fairways golf condos of Bay Creek Golf & Marina Resort, the contractors of these golf condos and little villas are never worried on not having much publicity. In fact, there is a daily sales agent available on site in case any golfers would like to peek at the property.
There are many at stake at having golf condos though, and some others have already paid the price, like when the administration of Colonial Charters Golf and Country Club announced that they are closing their doors for redevelopment. Residents who bought homes at astronomical prices would be out of luck when the development starts. The reason? Nobody wants to live in the middle of a major residential development, especially if these homeowners paid hard cash just to be in the middle of a golf course.
Still, golf condos and homes are still in favor as ever, as long as the real estate purchaser will take some pains in learning the security of the club itself. Major golf courses obviously are harder to topple than the smaller ones, but do have higher prices. But still, nobody’s too comfortable in taking risks.
At present, golf condos are so much plentiful that there are hardly any shortages. Of course, golf condos and homes made by top designers do tend to be very pricey and very volatile besides.