Hi Steevie
I am probably able to help here, to a limited extent, as last week I completed the purchase of a townhouse on what is a completed resort. With look a more experienced owner might offer greater expertise & maybe put me right on some of my perceptions.
The pros and cons as I see it are as follows:
PROS
- A very attractive resort
- All facilities are in place - unlike "off-plan" purchase such as at Terrazas
- Goodish range of restaurants and bars (although there is nothing Irish about the Irish Bar)
- Completed golf course in good condition
- A "Community" with a few years of experience who appear to be wrestling convincingly with the early teething troubles such as TV contract, Community fees debtors (down 20% since I first took notice) & what appears to have been initial administrators who didn't appear to do the Community any favours.
- Much less like a ghost town last week than I have experienced over the last 2 years.
CONS
- Most of the most desirable plots will be in the hands of those with no intention to move or investors who are waiting for prices to recover - even so there are some bargains to be had.
- Relatively expensive facilities - golf rates to residents appear extremely high and the course appears to be very under used. PW could use a bit of marketing skill to raise greater green fee income through lower rates & greater uptake.
I'm sure after spending some more time there I might add a few more or reconsider some of these initial thoughts. I have to say that on balance I am well pleased with the purchase and without wishing my life away I really look forward to when we can spend much more time there in a few years time.
Hope this is of some help
Dave