Gated Lakefront Communities in Tennessee: Pros and Cons
There are several types of lakefront communities across Tennessee and each one comes with a certain set of rules, settings and an environment that makes living at each type of lake different than the others. Today we’re going to talk about the pros and cons of living in gated lakefront communities in Tennessee.
To start, gated communities are a sub-section of the private lake type; meaning that these communities have HOA’s and generally only allow member and member-guest access to the community. The HOA provides a security gate at all the entrances that prevent non-members from entering. Examples of gated communities would be Rarity Bay, Tennessee National and Thunder Point.
PRO #1 – Additional Security
This one is probably the most obvious result of choosing a gated community. Gates can play a huge roll in keeping crime down at lake communities, especially since secondary homes have a higher probability of getting burglarized than primary residences. Gates are also a cheaper way of bolstering security than say a constant police patrol. With the gated entrances anyone who enters the community has to be a member or a guest and they are monitored, making you feel safer at night knowing that anyone with ill intentions would be barred at the gate; literally. This is probably why gated communities bring a higher sale price than non gated communities.
CON #1 – Guest Inconvenience
Going off of the first Pro, this issue may be more of an issue at some lakes than others. Since gated communities are members only a lot of lakes allow certain family members such as children and parents to enter without you as long as they’re registered with the gate office, but some extended family (sometimes that includes siblings) may not be able to enter without you with them. Not to mention that if at anytime someone comes to visit you at your lake house you need to arrange a pass for them at the gate. Make sure to think about your own family situation and who all would be using the lake house before choosing a strict gated community. Many communities have an “Anytime” list that will allow you to list regular guests, family and housekeeping staff to be permitted to enter most anytime or designated times.
PRO #2 – Less Traffic
This one may not seem like a big deal to some, but if you’ve ever been to some non-gated lake communities you would understand why cutting down on traffic could be a blessing. People drive far too fast over the speed limit along the main road, and if you have pets or children or want to use a golf cart it can make you a little nervous. With a gated community, since only members and guests of members can come in, there are less vehicles on the road just passing through or that shouldn’t be there. Everyone wants to drive at a reasonable speed because they live there. Not to mention that anyone coming through the gate must stop and register before entering, preventing them from cruising into the community. Parents can feel a little safer letting kids ride their bikes around, or residents walking their pets and everyone can enjoy their golf cart a little more without looking over their shoulder as much.
CON #2 – The Mail / Addresses
This one may not be as big of a concern for some as it is others, but it is something to think about. A lot of gated communities such have all the mailboxes at one location inside the complex called cluster boxes, much like an apartment complex. Mail is not delivered directly to your home but rather the postal carrier only has to stop once and deliver to one main location. Usually they don’t even have to enter the community.
CON #3 – Cost
This one can be a big one if you’re looking to keep costs down of owning a lake house. When you do the math constructing a gate and paying someone to monitor it costs money. So as a resident you’re going to see a higher HOA bill at gated lakefront communities on average compared to other lakes, especially considering that a lot of public type lakes don’t have HOA fees. Make sure to check how much the additional security and protection are going to cost you before you decide on which lake to live. Keep in mind though, a gated community also holds home values up for resale.
CON #4 – Lack of Privacy
There is another con that isn’t considered as large as a factor as other items. This one is more for the people who are very privacy conscious. Consider this: every time you have someone come visit you whether it be family, a friend or guest, the security office keeps track of who comes and goes. For most this issue may be irrelevant, for some it may not be. Just food for though.
Side Note – Scheduling Showings when Selling a House
This issue may arise when trying to sell a home inside a gated community, but the fact is that in today’s world almost everyone has a Real Estate Agent. Agents usually prefer to bring most buyers to their own listings but that doesn’t always happen. Every time a buyer wants to see a home and they have an agent that doesn’t live “inside the gate” an appointment needs to be made and access inside needs to be arranged. In several cases an agent, and potential buyermay be turned away if advance notice has not been arranged. This also means that exposure of your listing may become diminished because of less visibility of a sign in the yard (If the community allows signs). Some gated lakefront communities in Tennessee have slower markets, in part because since they’re gated, buyers don’t have the opportunity to do a Sunday drive around to look for homes for sale behind the gate. In fact, many gated communities are so private that few people know about them (which is where the real estate agent comes in). Now, that being said many lakefront special agents live in the lake area that they specialize on, and can easily show and arrange showings at those gated lakefront communities. The reason why this isn’t listed as a con is because some people like knowing that the agent and buyer who come to see their home have been registered at the security gate. It can be convenient to know who went through your home, when and for how long.
PROS vs CONS
It may seem like there are many cons in the above list, but the reality is that it is still, in many situations, better to live in a gated community than not if you intend to keep the home as a second home, a rental home, or even travel alot.
And don’t forget that the American Real Estate Society found that homes in gated communities command an average of $30,000 more than homes in non-gated neighborhoods!
Posted by Kody Millikan, Lakefront Living, On The Lake Realty