With open spaces of green, well-cut grass and lifestyle benefits to boot, many suburbs throughout Australia are being transformed by the addition of newly developed deluxe golf resort properties decorating the fringe of the fairway.
The occupiers of these sorts of dwellings are generally motivated by the luxurious lifestyle environment that these estates represent – even if they don’t play golf, says Ian Pepper, CEO of property finance and advisory group Property Penguin.
“For people that don’t play golf, there are other attractions such as swimming pools, tennis courts and restaurants, which along with the picturesque scenery of the golf course, give it a real resort-like feel,” Pepper says.
Investors who are contemplating buying into a golf course development must weigh up a range of considerations before taking the plunge.
Unlike standard property transactions, the decision to invest in a golf course development may not be purely financial – the lifestyle benefits attached to the development, and the opportunities for the investor to holiday at the property, are also a major consideration.
Therefore, emotions can come into play, so it’s very important to conduct due diligence and complete your own independent research before committing to the purchase. Never rely solely on the information presented to you by the developer, and check the quality of the project by researching the reputation of the builders and developers involved.