Which Jamaican home is right for you: Gated Community vs. Stand-alone Residence?
Private dwelling or gated community? Which one is right for you?
Throughout my career as a Jamaican Realtor, I have had the privilege of helping many people transition to homes more suited to their needs. Here are a few factors I encourage my clients to consider in order to determine which option is best for them:
Maintenance
When deciding where you want to live, how much maintenance are you willing to take on? While you can outsource the physical labour required for home repairs, painting, pest control, sewage treatment, pool maintenance and landscaping, if you own a stand-alone home, these will all be your responsibility. If you opt to live in a gated community, the common areas, shared amenities and external areas of the building are covered by monthly maintenance fees and supervised by a property or strata manager on behalf of the collective body of homeowners.
Layout and Design
Whether you choose to live in an apartment, semi-detached or completely detached home, you will need to decide what layout works for you. If stairs are an issue, you will need a bungalow, ground floor apartment or a home with a ground floor bedroom. You should also consider whether an open concept or more traditional layout is of importance. Stand-alone homes are flexible where renovations and expansion is concerned. Gated communities have strict rules regarding changes to the exterior; however, you have the freedom to change the interior, as long as you adhere to safety codes.
Community
If you prefer to have neighbours closer to you and don’t mind group voting on major decisions, then a gated community may be a good choice for you. Often such settings are great for kids as they can easily step outside to play with friends in the community. However, if you love your independence and privacy, a single-family home may be more in keeping with what you are looking for.
Security
Having a single-family residence means securing the premises will be your responsibility. You may be required to construct and maintain a perimeter wall or fence, or pay to have an alarm system installed. If you feel there is security in numbers and you like the convenience of having a security guard at your gate, then a gated community may be a better option for you to consider. If you are not a fan of security grills, this is a far less common feature in gated communities, as opposed to private residences in Jamaica.
Pets
Some gated communities allow small pets like small dogs, cats and birds. However, if you are a big animal lover with multiple pets, you will have to opt for a private dwelling with enough yard space to comfortably accommodate your furry friends or livestock.
Possibilities for Income Generation
A single-family home generally gives you more flexibility where expansion and customization are concerned. You can have a self-contained apartment or cottage constructed on the property or you can take in a lodger if you wish. While you may be restricted in a gated community, where this is concerned, possibilities for income generation through short-term or long-term rentals may be possible if you have alternative housing arrangements for yourself. If your apartment or townhouse is located in a high-demand area, it may quite likely rent for more money than a flat in a detached home.
Estate Planning
Whatever you decide to purchase or build, real estate holdings will always be a valuable asset to leave to your loved ones. Consider whether you should hold your title as joint tenants or tenants-in-common, as this will affect the applicable transfer taxes or death duties.
Choosing how or where to live can be overwhelming. If you are having difficulty deciding whether to buy or sell, upsize or downsize, my team and I are here to help. Contact us for a complementary consultation and make one small step toward planning your future today.
