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Should You Buy Property in a Lifestyle Estate?

Should You Buy Property in a Lifestyle Estate?

Buying into a lifestyle estate or gated development is not the same as purchasing a home in the suburb. There are many things to consider before signing on the dotted line.

Below we explore a few points worthy of note in making this important decision for you and your family.

Lifestyle at a Premium

Premium-priced properties come in many shapes and sizes. Estate developments, although certainly unified by a common sense of community and similar popular amenities, have their unique character. Lifestyle, game/nature, golf, fishing, or wine estate?

Your lifestyle needs will determine the type of estate and the facilities you want to explore by buying into that particular estate, be it pool, clubhouse, restaurant, playground, nature trail, spa, stables, school and sports facilities etcetera.

Choose an estate that speaks to your lifestyle you aspire to and be willing to pay more to buy into this lifestyle and the security it lends in the first place.

The Rules of the Game

Each estate has its own rules and regulations since the management of the estate becomes more rewarding and easier if every property owner is on the same page.

It is highly recommended to inquire about the estate management, the body corporate and its regulations before you make the estate plunge.

Make sure you are comfortable with the regulations, even though you may not like everything (it rarely does happen).

Money Matters

There are costs associated with every property ownership like the homeowner’s insurance, taxes, and municipal rates.

Buying into an estate means additional maintenance costs and levies that cover specific services used by all the residents (security and garden services, for example).

Get the big picture about all the costs involved in owning the property and accessing the estate’s amenities.

The above advice should prove useful when searching for your estate dream home.

Ready to live in a luxury estate? Try one of our upmarket, world-class developments.

Richfield Lifestyle Estate is ideally situated in Accra’s fastest growing Middle to Upper-income community, East Legon Hills/Santeo.

Contact Mobus Property for more information.

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