SW Florida Real Estate Insider - How to Avoid Gated Community Buying Pitfalls

You may have heard about local communities in the Bonita Springs and Naples areas, such as Palmira Golf & Country Club and Quail West, that were experiencing financial distress regarding the operations of their amenities, but without going into the national economics and politics that are affecting to some extent, most communities throughout the country, here are some things to keep in mind when purchasing a home in sunny SW Florida.

There are ways to avoid such gated or resort style community issues:
Be aware:
Every home in a community with an association provides, or should provide, association disclosures including financials prior to a sale. Make sure you review those disclosures and financials with your real estate agent before going to close.
Be realistic:
If you are the person who wants the golf course view or social membership than 1) make sure you can afford the association fees and memberships
2) understand the consequences of not paying the association fees and memberships that you commit to and most importantly
3) have fun!
If you are NOT a golfer or tennis player or you don’t plan to purchase related memberships, then consider residential communities that do not have all those amenities and fees. Buy because you love it in SW Florida; buy because you love the house or condo; buy because the long term investment is the way to go.
Be smart:
Use a professional real estate agent. And one who will be detailed from start to finish for your home search, research, contract offer and closing.
Be brave:
Don’t regret missing your chance to own that SW Florida home at the amazing price of today. Real estate is a long term investment and 10 or 15 years from now or when your retirement rolls around, you WILL be happy to have a home or condo in SW Florida.
Be patient:
For example, if you fell in love with Palmira Golf & Country Club, do not lose heart. Allow the new committee of homeowners to work things out and you may end up with an even greater community run by the one’s who live there and love it there. You can check out the committee progress at http://savepalmira.com/
Be confident:
No matter how a struggling community, a new President, Congress or Wall Street figure things out, when all is said and done, the fact is, SW Florida will still be SW Florida. The climate will still be fabulous, the beaches will still be relaxing, the Gulf of Mexico will still be glorious, the roads will be even greater improved and the people will continue to be friendly, active and having fun in sunny, beautiful SW Florida!

Happy and Safe Shopping with
Lisa Farina-Lopez