You’re finally zeroing in on that golf community getaway home. May as well be as close to the course as you can, right?
Not so fast.
A new study in the spring issue of The Appraisal Journal reports that mere proximity to a cart path may reduce prices by 5.1% and the impact is even greater near greens (11.6%) and tee boxes (8.6%).
Apparently, it’s all those golfers zooming down cart paths and hanging around tee boxes and greens that’s driving the prices down.
Still, if you don’t mind the company, getting a lower price on your golf getaway could be well worth the loss of solitude. You came here to golf after all, didn’t you?
The study suggests those buying close to cart paths should get relief from the immoveable obstruction a cart path presents. That’s a cute analogy. But it certainly one to keep in mind when negotiating price.
Of course, if you like the proximity, but not the crowds, the study does suggest an alternative that won’t impact price as much: a condo on a higher floor. Pretty much assured of better views from up there, too.