Frequently Asked Questions
Learn more about The Residences on Watermere Drive, Southlake's most luxurious age-restricted, gated community featuring custom villa and condominium homes, and all the benefits of home ownership.
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How is Watermere different from other age-restricted retirement communities?
Unlike the vast majority of other age-restricted retirement communities, at Watermere, you will own your own home. In addition, Watermere has been specifically designed for those who are not retiring in the traditional sense, but simply pursuing new passions, enjoying adventure travel, staying in shape and giving back to the community. As a result, Watermere will provide an unprecedented variety of services and amenities not found in other communities, gated entries, all exterior maintenance including lawn care, an Athletic Club, a variety of restaurants and café’s for dining, a full-service bar and golf privileges at the nearby Sky Creek Ranch golf course. Most importantly, the staff at Watermere will be responsive to the needs and interests of its residents.
Why is owning my home so important?
There are a number of important financial advantages to owning your home. First, you enjoy certain federal income tax advantages. Second, your home is widely recognized as one of the most secure investments you can ever make. Owning your own home has also proven to be a good hedge against inflation because of the potential for appreciation in value.
I read something about 24-hour security. What does that really mean?
Watermere at Southlake will have gated entries which means that only homeowners and invited guests will have access to the community. In addition, staff associates will be on duty 24 hours a day to provide assistance to our homeowners should they need it. Our staff associates will also periodically check on your home while you are away on vacation or visiting family. You will have the peace of mind knowing that your home is being monitored while you are gone.
I understand that there is a Clubhouse at Watermere. Is the Clubhouse open to the public?
The Clubhouse is open to the public for events such as weddings, charity events, parties and business meetings please call Watermere at 817-748-4000 for more information.
I read something about golf. Where can I play golf and what will it cost me?
Watermere at Southlake will pay for 2 green fees a month at Sky Creek Ranch Golf Course which is a short 10-minute drive from the community. You may play Monday through Friday. You will only be required to pay a small cart fee. Unlimited use of the driving range is included.
When can I see a home at Watermere?
Right now! Please call 817-748-4000 to schedule an appointment or stop by!
Who will really own Watermere at Southlake?
Ultimately, the homeowners will own Watermere. The entire community, including the Clubhouse, will be debt-free and will be operated on a not-for-profit basis. While the community will be managed by an experienced management company, a Homeowners’ Association Board of Directors elected by the residents will oversee the community once the development has been completed.
How large are the Villa and Condominium Homes?
There are 7 Villa floorplans to choose from ranging from a two-bedroom, 2½ bath, 2,000 sq. ft. home to a large two bedroom, 3 bath, 3,000 sq. ft. home with a study and large bonus room. There are 10 Condominium Home floorplans ranging from a comfortable one-bedroom, 1½ bath, 1000 sq. ft. home to a spacious three-bedroom, 3 bath, 2,000 sq. ft. home with a study/game room.
Will I be able to add custom options to my home?
Watermere homes will include high quality finishes including granite counter tops, crown molding and custom flooring, as well as gourmet quality appliances and designer quality fixtures.
Villa Buyers will have the opportunity to make color selections for wood, carpet, tile and granite choices, In addition, buyers may select a specific location for their home in the community – from a lake view for a Villa or Condominium Home to a specific floor (1st floor through 4th floor) for Condominium Homes. In some cases, a premium will be charged for certain highly desirable locations within the community.
Will I have to take care of my own yard?
Absolutely not! When you move to Watermere leave the lawnmower, weedeater, fertilizer spreader and step ladder behind. We will take care of all landscaping and lawn care as well as exterior maintenance of your home… including washing the windows once a year!
Will there be transportation available?
Yes. There will be scheduled transportation to the airport and to medical appointments provided it is within a 15 miles radius. Transportation is available Monday thru Friday during normal business hours.
Once I purchase my home and move into Watermere, will there be any other fees and charges?
There will be a monthly service fee . The monthly fee will pay for the cost of all services including lawn care, weekly housekeeping service, scheduled transportation, premium cable TV service, high speed internet, 24-hour emergency call system, most utilities, and insurance on your home’s structure.
The monthly fee also includes the extensive list of amenities provided in the Clubhouse as well as a monetary allowance for meals that can be used in any one of our three restaurants and lounges.
Who pays the property taxes on my home?
The homeowner will be responsible for paying property taxes since they have a deed to their home. While the homeowner pays the property taxes just like any other homeowner, they will also enjoy all the benefits of home ownership including certain federal tax advantages. Your home is an asset, so you will also benefit from possible appreciation on the value of your home and the peace of mind of knowing that your hard-earned wealth will someday be passed on to your family.
Who pays for utilities and the insurance on my home?
Watermere at Southlake will pay for your water and sewer service, premium cable TV service, high speed internet access and insurance for the structure of your home. The cost of other utilities including electric, gas, phone service and as well as personal property and personal liability insurance, will be the owner’s responsibility. This gives each owner the added flexibility to select the type of service they want and control their own utility costs.
What about guests staying with me in my home?
Guests are most welcome at Watermere for a visit of up to 30 days. If someone remains in your home beyond 30 days, it is assumed that they are no longer a guest, but rather a resident, and therefore must meet the minimum membership requirements.
What about pets?
Pets are an integral part of the family and are more than welcome at Watermere. As in any community, pet owners will be asked to abide by some common sense guidelines to ensure that their pet does not become a nuisance to other homeowners. The Executive Director will have the authority to ask that a pet be removed from the community if it is not properly controlled by its owners.
Where's the nearest retail shopping center and grocery store?
Southlake Town Center is less than 10 minutes from Watermere and features new and exciting retail and specialty stores as well as restaurants and Central Market, a new concept in grocery shopping.
Is there a hospital nearby?
The are numerous medical facilities and specialty clinics just minutes from Watermere. There is a private Doctors Office under construction at the entrance to Watermere. So far we are not sure how many or what type Doctors have committed to move their practice to Watermere. There is a second Medical Buiding to be built in 2014.
Will there be any health care facilities available at Watermere?
The Isle at Watermere is located within the community, just a short 5 minute walk from most homes and will consist of an Assisted Living and The Springs, a Memory Care Residence for those with Alzheimer’s and other memory impairments. The Isle features 66 apartments with varying levels of care, as well as rehabilitation services. The Springs offers 25 apartments for those with Alzheimer’s or other forms of dementia.
There is also a 4 story building under construction called THE LANDING just next door to the CLUB HOUSE.
This facility will offer 3 floors of skilled nursing care and is scheduled to Grand Open in Fall 2013.
Are there any restrictions on selling my home if and when I decide to move?
No. Since you own your home at Watermere, you may sell it through a real estate agent of your choice or sell it yourself provided the prospective owner meets the restrictions set for the community. For your convenience, come visit the sales office located on-site to assist you in selling your home if you so choose.