Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet. Still, higher home values have convinced some lenders to boost loan limits now.WASHINGTON –
Buying a Golf Course Residence ☘ Hoey Team ☘ eXp Realty
Dated: September 15 2019
Golf Course Residences
Considering a golf course property purchase? You’re in good company. It’s a buyer’s market for those looking to purchase a home within a golf community, whether as a primary residence or a supplemental property to broaden their portfolios. Premier U.S. greens underwent a major housing boom from the late 80s through the early 2000s, with many new developments arising at high-end courses. The saturated market is now compelling the communities to broaden their amenities in order to attract new buyers.
Experts say interest in these estates has increased recently, as well. As the economy recovers from the recession, luxury buyers are recouping their disposable income and looking to spend on supplemental real estate. Golf course residences make an ideal location for a vacation property, as recreation is on-site not only for the avid golfer, but for the whole family. Homes with the option to belong to a club will most often offer a clubhouse with dining, wellness services and social events.
While it may seem a wise choice to simply purchase a home on your favorite course, other practical factors will play a role in the decision-making process to find the best golf course community to take up residence. Perhaps the premier greens in your ideal destination also happen to be a substantial distance from the nearest grocery, airport or medical center. Or, the course of your dreams is only able to be used a small portion of the year in a climate with distinct seasons. Consider not only the course, but the location of the community, too.
Article content from duPont; let us know if you have questions on any aspect of golf course properties or the luxury home market.
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