properties on golf courses

[jsoe]

Hi all,
What's the general attitude (capital growth, buyers demand, etc.) for properties right on or backing onto golf courses? I mean those are quite popular in Gold Coast with retirees, etc.
Are these considered a luxury or a dump in general? I'm having a debate with my husband. And who better to ask than SS regulars?
Thanks!

 

[Peter_Tersteeg]

Nice views looking over a decent golf course from the backyard, I don't think there'd be any negatives about that. There's certainly some people who wouldn't want to live near a golf course (my wife is one), but there's people who'd pay a premium for it.

The only real negative I can see about these types of 'estates', is that they're often set up with a body corporate over the entire estate and that the golf club has a substantial say in the way the estate is managed. This can put some people off. They do tend to be fairly closely held though, which is ultiamtely a plus.

 

[boomtown]

If you are talking Gold Coast rental demand is good but CG profile is poor. A pretty standard deal would be 20 percent off it's 2007 peak price with a current gross yield of 6 percent. Not particularly exciting after taking into account body corps.

 

[Doovalacky]

Depending on the house location certain windows can greatly benefit from an awning or shutter.
A friend of mine has kids who make some bonus pocket money by collecting the balls in the backyard and selling them back

I know his rates have an extra $200 or so for special green space maintenance but no body corp as such.

 

[Macca]

The biggest problem in my area is that the managers/owners keep going broke and then a round of meetings ensues trying to work out who is responsible for maintaining all that greenery and who is going to pay for it

 

[NedKelly]

A friend of mine bought a house on an estate but before the golf course was built. He overpaid big time for the land but they never built the golf course and the developer went bust. The area set aside for the golf course is now a snake-infested overgrown wasteland.

 

[Bigtone]

I have found that normal houses that happen to overlook golf courses, there are many such places in the sandbelt area of melbourne have made good investments and have had good growth.

Properties that are actually built as new estates on golf courses have in all cases bar one that i have seen been a disaster

 

[joeExpat]

Some cheap Golf resort properties
http://www.guardian.co.uk/world/2012/may/25/spanish-property-polaris-homes-crash

 

[boomtown]

Lol it's no where that bad on the Gold Coast even in my current cranky bear state!

There are areas that were supposed to be developed that weren't but they mostly just look like parkland. They may be snake infested but name a part of Australia that isn't.

 

[jsoe]

Thank you all for good comments.
The one I'm looking at is just a normal house happens to be built along the golf course. Not an estate / part of golf course.
But I just saw 3 greens surrounding the house so I guess we're in the line of fire. There's a tall fence at the back but still... it could be off-putting to tenants with little kids playing in the backyard - wearing helmets or head gears. I'll pass this one I think.

 

[wannaretire!]

Yeah, I was also thinking that you wouldn't get much use out of your backyard, if you were in fear of getting hit by a golf ball .....

 

[BayView]

They're only really attractive if you are a golfer.

Many times I have seen entire golf holes changed after someone bought a property bordering a golf course, and got sick of golf balls ending up in their back yard.

The gold clubs fight the complaints, but in the end the property owners always get the nod from the Council.

Personally, I would live on an estate which was surrounded by the golf course, but I would pick a property away from the actual holes, with views over the golf course.

But, I am a golfer so it's attractive to me.

Houses backing right up to the golf holes have no privacy at all I've found...all the players can see right into the house most times, unless you whack up a high fence, which destroys the point of it all I suspect.