The Pros and Cons of Buying a Home in a Gated Community
A gated community is a cluster of apartments or a township within a closed gated perimeter surrounded by walls and fences with round-the-clock security service, modern facilities and amenities and many more. Gated communities can be constructed either within the city or in the suburbs with close connectivity to the city. However, nowadays due to lack of enough space within the city, huge infrastructural projects or commercial building for offices and retails are built at a shorter distance from the city, hence making the extended city the perfect place for residential developments.
Also, a comparatively cheaper rates and easy availability of land for construction make the suburbs a preferred hotspot for building huge residential gated community apartments.
In practical terms, Gated Community (GC) means an exclusive area of residence where pedestrians, public vehicles are strictly controlled. It provides access to all livelihood necessities like shopping, hospital, schools, crèches, entertainment, ATM, and parks. Also, it provides civic provisions like water treatment plant, solar electricity, well-laid roads so that life will be better inside the compound walls.
For any residential project, less than 4.95 acres need not get a development plan, the only building plan is sufficient to start construction. A builder can construct a compound wall and call it a gated community. However, if there is any residential layout inside then rights to common amenities like road and park will be relinquished and accessible to the public.
Advantages of Living in a Gated Community:
If you are a newbie in real estate buying or a past property holder wanting to upgrade your living standards, it will be a smart choice if you consider some important factors like location, convenience, price and financial aspects to impact your decision. Since the last couple of decades, the real estate market is observing the growing trend of gated communities being in utmost demand by customers.
- Security and privacy
This is the foremost advantage you can enjoy if you say in a gated community. As there is a 24/7 security service at the gate of the apartment, unpleasant happenings like theft or trespassing will never take place. A gated community has a well-guarded surrounding with gates secured by manned personnel. There are CCTV cameras in different locations within the gated community to monitor movements within the community.
Only residents and verified guests are allowed to enter the community. Also if you have an over-enthusiastic kid in their exploratory stage, staying in a gated community will ensure their safety since there is a guard always looking out.
Peace and quiet is something that is much needed these days and privacy is one key factor that attracts people to buy an apartment in a gated community. Staying in a gated community means that you stay off the hustle bustle of the outside world. You can enjoy an exclusive living with no disturbance whatsoever.
- A sense of Community
Consolidated and a unified lifestyle are what attracts people to a gated community living. When you live in a gated community with 500 to 600 families, there is a sense of community as a number of festivals and events are conducted all year round for the residents of the community. With more of such recreational functions happening, residents have the opportunity to gel up with fellow residents and have an increased sense of belongingness.
- Integrated Lifestyle
Where can you get all the convenient facilities and luxury amenities in a closely knitted space other than a gated community! This is a convenient pro because you don’t need to leave the vicinity of your property to get access to these facilities.
From gaming facilities like basketball, badminton, squash, cricket practice pitch, golf putting to chilling in a swimming pool, a lounge, a spa/salon to bonding with people in the amphitheater or restaurant; a gated community strives towards offering every possible opportunity to its residents. This makes for comfortable and luxury living without shelling out exorbitant amounts of money.
- No Traffic And Speeding Vehicles
You are safe and secure inside a gated community as there are no speeding vehicles like on the road. There is a restricted speed limit inside a gated community and you cannot violate the rules. If you are staying in a community that is a little secluded from the rest of the city, you can enjoy a sense of peace and tranquility when at home.
Disadvantages of Living in a Gated Community:
- Longer Duration To Complete Ecosystem
Gated Communities not only consists of homes but also of civic amenities like schools, water treatment plant etc. It takes a longer duration to construct these amenities and builders should be motivated enough to construct and maintain for a considerable period of time. Otherwise, buyers will land in trouble.
- Working With Civic Agencies For Electricity, Garbage Cleaning
There are plenty of issues with GC and civic agencies in sharing the responsibility of sewage, garbage cleaning, and potable water facilities. In large communities, they create self-supplying facilities and others buy or get service from outside. But this increases the cost of the home buyer.
- High Prices
Both buying and rental prices tend to be higher for properties within gated communities when compared with their non-gated equivalents. Estate fees can also be fairly extravagant because you are paying for the maintenance of the gates and general security.
Things like the roads are private, so you will pay towards their upkeep. If there are leisure facilities, such as golf courses, swimming pools, and tennis courts, you will likely end up paying for those too. In short, you should be prepared to be hit by all sorts of fees and expenses.
- Restrictive Rules
There are lots of rules to obey. These might include: what color you paint your house, how high the grass in your lawn can grow, as well as the types of vehicles you can own and where you park them. Some people like the rules, they can help keep up the property prices, but if you prefer individuality and self-expression to uniformity, or just have a more laid back approach, you may well struggle.
However considering both pros and cons, if a home buyer can choose the right builder and go through the development plan to understand access to common facilities, it is worth buying in the gated community. It will give peace of mind, price appreciation, and togetherness which is lacking otherwise.