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I am taking a local poll for the neighborhood I currently live in. We have a long way to go to finish building out, but absolutely have beautiful lots available in N. Raleigh. We are getting quite a few drivebys, but no real development. I have considered lobbying the developer to add a gated entrance. He and I have discussed before, but he pointed out the roads would not be state maintenance eligible with a gate. I would love to get some local opinions from buyers who are considering building homes in the $650- $1M range on approx. 1 acre. Would a gated community sway you one way or another?
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I live near a number of gated communities, but they don't tend to sell any faster. There's a $400K-$500K new home subdivision up the street with a big brick and metal gate. It stops drive-by buyers cold. They're offered as short sales now.There's a few high end ($1M+) communities with (mostly staffed) gates, and those buyers really want the privacy. But for more ordinary buyers drawbacks may outweigh positives. Gates do almost nothing for security if you're already in a low crime area. It makes streets legally private, so there's no more routine police patrols or control of parking or speeding. There's an emergency access risk since every gate will malfunction eventually - I've heard some scary stories. Maintenance adds to the HOA dues.
And the developer is right. The HOA becomes liable for all road maintenance - potholes, resurfacing - running easily into $100's of thousands of dollars long term. I'm surprised more agents don't warn buyers of that financial exposure.
Personally, I dislike elitism and that is what a gated community looks to be.
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