Whether you're a casual golf fan or an avid follower of professional golf, you may have been anticipating the Masters Tournament for quite some time. Though the 2020 Masters Tournament was delayed substantially -- it was initially slated to happen in April -- the professional golf event is finally upon us, taking place Thursday, Nov. 12, through Sunday, Nov. 15, in Augusta, Georgia. This year marks the 84th edition of the Masters Tournament -- an event some golf fans and players alike may have worried wouldn't actually happen.
If you're tuning into the Masters Tournament via live stream, it may have you thinking about what it would be like to buy a home on a golf course. Clearly, there are pros and cons to going this route whether you're a golf player or not. Here's what you need to know.
The benefits of buying on a golf course
Buying a home on a golf course, whether for yourself or as an investment property, could end up being a wise choice. First, if you're a golfer, getting ready access to a course will make it easier to perfect your game. And if you're not a golf player but enjoy watching the sport, you'll have prime access to local tournament action. Or, to put it another way, you won't have to sit back and wait for the Masters golf tournament all year because you'll have built-in entertainment right in your backyard.
Furthermore, buying a home on a golf course means you get access to incredible landscaping and terrific views. Depending on the setup, you may even find that you get a lot more privacy on a golf course than you do by buying a home in a standard neighborhood. And if you purchase a golf course home as an investment property, all of these benefits could make it easier to attract potential tenants, too.
The drawbacks of buying on a golf course
If you're all fired up about the 2020 Masters Tournament, you may be inspired to go out and buy a home on a golf course. But before you do, you should know about the drawbacks.
For one thing, you never know when an errant golf ball might crash through your home's window or a vehicle windshield. As such, you'll need to have the right homeowners insurance in place when buying on a golf course, and that could mean paying higher premiums.
Another thing to consider is that if the golf course you buy on is tournament central, you may find that large crowds make it difficult to enjoy your privacy and that local roads get backed up with traffic very often.
Furthermore, if you buy on a golf course, you may be subject to certain restrictions. For example, certain areas of that golf course may be off limits with regard to biking or even walking. And, you may find that your home must conform to certain upkeep standards so as not to detract from the aesthetic of the golf course it's on. Those standards could end up being time-consuming and costly to main. Therefore, if you're going to buy on a golf course, treat it the same way you would a homeowners association, and read up on all of the rules and regulations before moving forward.
Should you buy on a golf course?
Living someplace that makes it easy to play golf might seem like a dream. And as an investment, a home on a golf course could command top dollar when you market it to golf fans. But before you buy on a golf course, beware the hiccups you might encounter, and make sure you're willing to take on those risks. While you may have golf on the brain right now due to the 84th Masters Tournament being underway in Augusta, don't forget that once the frenzy dies down, you may feel a little differently about owning property on an actual golf course.