Month: September 2018

What Are The Advantages Of a Gated Community? Is it right for me?

Gated Communities Help Keep You Safe

If you want to learn more about gated communities, let`s start by defining them.

A gated community represents a neighborhood protected by a gate which ensures controlled access and provides better protection against theft, crime and other intrusions. Everybody – residents or visitors alike – must pass through the gate (or the gates!) of such a community. Typically, gates have guard booths and security staff, or at least automatic systems that require a card or remote control access.

There are gated communities everywhere – in big cities, smaller town, as well as in rural areas. Their size also varies from a few properties to a few dozens.

If you consider moving to such a neighborhood, you surely want to know the pros and the cons. We offer you some guidelines.


What are the advantages of a gated community?

Besides better safety and protection, residents of gated communities enjoy numerous other advantages, especially if you are in lakefront homes Hot Springs AR communities.

Reduced vehicle and pedestrian traffic

There are no foreign drivers passing through these neighborhoods, the traffic being restricted to residents and guests. This makes walkways and roads safer for everyone, traffic accidents are greatly reduced and so is the noise.

The access to pedestrians is also limited, therefore residents experience less vandalism, theft and unwanted guests (such as those door-to-door proselytes, sellers etc.)

Access to public area

Many gated communities have their own communal facilities, such as parks, pools, sports facilities etc.

High property value

Owning a home in a gated community means higher HOA dues (these cover the costs of maintaining the patios, lobbies, landscaping etc.), but higher property value and faster home selling process.

Positive impact on the local economy

Gated communities tend to have a good impact on the economy in the area, which comes not just from the higher property value that we previously presented as an advantage, but also from high-income residents who generate tax boosts to their municipality. Some also advance the idea that gated communities put a barrier between low income and high income neighborhoods, encouraging economic inequality; in such a context, homes that do not belong to a gated community but are situated in its proximity may have to suffer by comparison.


What are the drawbacks of living in a gated community?

The residents of these neighborhoods typically experience less privacy and control.  There are various restrictions that everyone must respect, ranging from car parking requirements to the colors of the facades. There is a tendency toward uniformity (both physical and demographic) and some people may feel uncomfortable about it and constraint in their self-expression, although other will feel perfectly fine.

Another important detail is that the level of security is not the same in every gated community and it may not be what you expect.

It is therefore very important to get the necessary information before moving to such a neighborhood. You need to know the HOA regulations and it is also good to learn about other residents’ experiences related to living in a gated community.




What Are the Disadvantages of Timeshares – the Cons that You Need to Know about

Pros Or Cons To Timeshares

Timeshare contracts might look attractive at first glance – the properties are usually located in a beautiful spot, with direct access to the sea or with spectacular views and the sums to be paid monthly for the upkeep and maintenance of the property don’t seem that high either. However, purchasing a timeshare also comes with negative sides that you must know about and that you need to weigh very carefully to be able to make an informed decision about whether or not the purchase makes sense for you. If you are trying to find a detailed answer to the question “what are the disadvantages of timeshares?”, here is some input for you.

Timeshares Are Not That Cheap

Whether your seller told you otherwise or not, the vacations spent on timeshare properties are usually more expensive that the vacations spent in locations visited one time or in resorts that you return to, but only if you want to. The maintenance fees that come with timeshare ownership are usually low in the beginning, but most sellers retain the right to increase maintenance fees without the consent of the owner and without even having to notify the owner in advance, so they can freely increase fees to whatever amount they want, and leave you asking how to get rid of a timeshare legally?

Financing Difficulties

If you are planning to finance your timeshare from a bank loan or a mortgage, things get even more complicated. Most financial institutions are reluctant to provide loans for properties that the loan applicant uses only foe a couple weeks a year, especially if you have only a right-of-use, not even a deeded contract.

Cancelling Difficulties

Timeshare developers are usually required to include a grace period into their contract – a period during which the buyers can change their minds and the seller must take the property back. If you decide that you want to get rid of your timeshare after the grace period has expired and the contract cannot be attacked, all you can do to get out is to try and sell the timeshare.

Selling Difficulties

Timeshares are notoriously difficult to sell. You can try to contact your initial seller and offer them the property for a buy-back or you can start advertising the property on real estate listings, on auction sites and on other type of media, but be prepared that supply currently is much higher than demand, so it might take a while to find the right buyer.

A Trip into the Unknown

Wherever your timeshare property is located, chances are that you have no or limited knowledge of the area where you promise to spend your vacations from the moment of signing on the dotted line. The property might look great, indeed, but your time slot may be in the middle of the rainy season there or maybe the crime rates in the area are very high.

The other problem is boredom. Even if the property, the area surrounding it and the timing are all good, chances are that after a few years you will want to start exploring other, new areas, but your timeshare is tying you to the same place.