An alternative perspective
I have a "peekaboo" view of the golf course out the front of my house. We can see between the houses across the street to the fairway.
I'm glad we don't have direct "frontage" (weird word since it'd be the back yard, not the front) at the golf course. I don't want people driving past my house all day long with their noisy golf carts, stopping maybe right at the edge of my back yard to chit-chat with their fellow golfers, or even coming onto my property to take the shot they missed.
I like being able to see the course. I just don't want to be a physical part of it. There are a couple of houses on our course that have really gorgeous trees dividing their yard from the course. Something like that, I'd probably really love. It's enough privacy and physical barrier that I can see the whole thing, but they probably can't see me unless they were looking on purpose. Plus they can't bring their carts right to my back yard because the trees are in the way. That'd be acceptable to me.
For a yard that backs to a retention pond - absolutely not. I don't want alligators sunning themselves just a few yards away from me when I decide I want to sit out on the back porch and enjoy the view. I also don't think a view of a dry pond during a drought is worth paying extra for.
For a yard that backs to an actual lake - maybe. Around two months ago I was down at Silver Lake, enjoying the view while taking a break during a bike ride. Looked down and saw - hundreds of small dead fish up against the shoreline. If that was a fluke, and not an actual "situation" that occurs regularly, I'd probably be okay with a lake view. If that happens regularly, then absolutely not.
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