Gated estates: know your facts

Johannesburg - Research should be the first step when investing in the gated estate lifestyle, says Association of Residential Communities (ARC) president Jeff Gilmour.

“Do your homework thoroughly before you buy into secure gated estate living. If you don’t, your lifestyle dream could turn out to be your worst nightmare,” he warns.

“Homes in lifestyle estates generally come with price premiums that average 30 percent more compared with like-on-like properties on the ‘outside’. Therefore, mistakes can be that much more costly if you fail to carry out fundamental research on the estate itself before closing the deal,” says Gilmour.

His checklist for investing in a gated estate begins with the Home Owners’ Association (HOA):

Gilmour recommends a walk or drive around the entire estate to ensure it is in good shape:

“Above all,” says Gilmour, “look closely at the security system – including the electric fence, surveillance cameras, presence of security vehicles, roving patrols and proactive policing.”

“A recent countrywide ARC survey showed security is the biggest single factor that motivates investment in gated residential estates,” he adds.

The ARC helps HOAs to manage residential estates more efficiently to protect and grow the value of residents’ homes.

– Saturday Star