We bought in haste and only regret not having a slightly larger lanai and a golf cart garage. Both very minor annoyances, and not a real issue. So I have no real regrets. I really like the home and the area, and wouldn't change that for a second. The lifestyle, which is the real thing you're buying, isn't house or neighborhood dependent, so you can't miss.
We bought 3.5 years ago in a market where the prices were rising almost daily (or it seemed that way) and we had that exuberant sense that "Who cares if we like it - if we don't we'll just sell (and make a load of money)", so the thought of doing more analysis than we did seemed foolish at the time.
However, given the conditions of the market today, and the likelihood that you can find a real deal on either a new or pre-owned home, I'd agree renting before purchasing would be a sound idea.
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