Estate living – Buyers' tips
Those who have already made the move to estate living share their advice.
Choose an estate that speaks to your lifestyle, or one to which you aspire, and provides the school or other facilities that are important to you. If you enjoy the tranquillity of fly-fishing, for example, then don’t buy a home on a golf estate. On the other hand, don’t discount facilities like a clubhouse or sports centre that you might come to enjoy.
If you can, pick an established, organised and operational estate. Most very new estates have teething problems and it is good if you can avoid these. If you can’t, try to get involved in a positive way and help to ensure that the estate will be well managed going forward.
Even if you are buying into a well-established estate, check to see that it has a strong management team, a proven track record, and good financials. The absence of these can make a seemingly good investment lose value in a short amount of time.
Obey the Law
Check the rules of the estate carefully to make sure you will be able to live by them, even if you don’t love all of them. Estates can only run well if everyone is on the same page.
Make a commitment
Commit to a purchase as soon as possible. Estate property sells at a premium but its value also increases more and faster, so even if you have to make the sacrifice of buying a smaller property than you have now, you will be in the right market sector and able to ‘buy up’ within this sector in due course. If you leave it too late, you may cut yourself out of the estate market for good.