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Considerations For Purchasing In A Gated Community



G


ated Communities offer          raising farm animals and auto or  
residents some obvious          boat maintenance in the yard.     
advantages – the amenities      There is always someone, the      
within the gates like golf, pool,     guard or gate monitor, who can    
fitness facilities, spas,             receive packages. While away,     
restaurants, pools, tennis and a      many communities will, if         
wide range of others. Qualified       notified, monitor your home.      
staff operate and offer               Often the maintenance and service 
personalized instruction on how       staff may be hired on the side to 
to use the available facilities.      perform tasks that you are unable 
You will also enjoy privacy from      or would rather not do. Stable    
unwanted and uninvited visitors,      appreciation, often more than the 
security and the assurance that       surrounding area, is likely       
you will be living with others        because of the aforementioned     
who share your socio-economic         benefits.                         
values and standards. The grounds                                       
typically are well manicured and      What should you ask prior to      
cared for by someone else. There      purchasing in a gated community?  
may be prestige as well,                                                
associated with being in an           1) What amenities are most        
exclusive community.                  important and are they offered?   
                                                                        
There are also some not so            Horse enthusiasts will want an    
obvious advantages. Protective        equestrian center, golfers - a    
covenants, standard in most gated     course, boaters-a marina, etc.    
communities, assure that all                                            
construction and exterior changes     2) How much are the dues?         
meet minimum criteria. They also                                        
regulate use and prohibit             Who collects them and what do     
undesirable activities like           they include? The management of   



the community and its amenity         4) Is there a club?               
package before and after the                                            
developer is active are key to        If so, what is its structure?     
both your enjoyment and ability       Must we join? Often club          
to resell your property later.        membership is optional, though    
                                      sometimes it is required to use   
3) What is the governing              the amenities.                    
structure of amenities and who                                          
owns them?                            5) Who else will be using our     
                                      amenities?                        
Often a property owner’s                                                
association (POA) will purchase       If private, then only members     
the major amenities once the          have use, otherwise be sure that  
developer reaches a defined point     affluence of the resort guest is  
in sales. If this is the case,        equal to or greater than that of  
what is the amenity purchase          the owners. Price of use for      
price? There is often a formula       non-owners and access will help   
like twice the annual revenue, as     answer this. If semi-private, are 
part of a contract between the        there any members-only areas and  
principal and the POA. What           privileges?                       
provisions are being made for                                           
this purchase? Will it require an     6) Are the owners happy?          
assessment? If so, what is it                                           
projected to be? Does the POA fee     This is the best indicator to     
also include 24-hour security,        know whether a community will     
i.e., office patrol? Many times       meet your expectations. If there  
the gates act only as a barrier       are others who have similar likes 
but do not deter criminal             and dislikes and they are         
activity.                             satisfied, odds are you will be   
                                      too.                              



                                  




About the Author:

David Scott is a contributing writer for Living Southern Style and Ideal Destinations magazines, which cover planned, gated and retirement communities as well as waterfront and mountain properties. See http://www.idealdestinations.com for more information.


Read more articles by: David Scott

Article Source: www.iSnare.com


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