Saturday 15 January 2011
Golf Club Ibar Golf Course 10th September 2009
This is the Ibar golf course, not far from Sofia, the video is over a year old but things have not changed.This was a Jack Niklaus designed course, but they have run out of money and work has come to a halt.It has been reported that the houses will have to be demolished as they are illegal.As I have warned before this just illustrates the herd instinct of Bulgarian entrepreneurs who thought that golf was a licence to print money, unfortunately its also a licence to lose it big time !.
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Golf courses are more expensive than those that are not. After all. Many people dream of living on the ground because of the convenience, and the arguments why you should expect to pay much more for a house on a lot of nice that someone who is not. The additional cost of buying the house is not the only additional cost you should expect when they buy a house on a golf course, but you'll probably annual dues to pay homeowners association as well. In other words, look not only the purchase price when buying a home on the greens. On the contrary, whether the other annual expenses, you'll have to pay for living in the community when deciding whether you can really afford to live in a golf community.
ReplyDeleteTo date, Golf Club Ibar is alive & well... Somehow they managed to make it !
ReplyDeleteAny further news about the legal problems? Thinking of buying land outside the golf course.
ReplyDelete