Bundled vs. Equity Golf Communities (Naples: foreclosure, HOA, condos)

[Spotswoodboy]

Looking for opinions, pros and cons. All things being equal which holds its value? We have to choose and would like to hear from people in the area. Thanks.

[TamRE]

Are you looking for pros and cons in general or for specific communities? Some golf communities have packages to choose from. Some have a separate package deal for snow birds versus full time residents. Some have packages that require you to join for a golf membership plus require you to spend a certain dollar amount in the restaurant and you pay for use of facilities. Some can run $10k per year for the package deal plus you pay a homeowner association fee and a CDD fee. Some have social packages and golf packages. So you really have to check out what the community has. Some golf communities you just pay the HOA and the golf is optional. What you can afford, what you would actually use, and are willing to pay would help make a decision as to which community you would want to be in. If you are here full time and would use all of the facilities you are paying for then it might be worth paying for a package deal. If you wouldn't use the facilities then why pay for them.

[bbronston]

I've had customers tell me that the downside of bundled is that, potentially, getting a tee time can be problematic. On the other hand, equity memberships can be tricky if you ever decide to leave. Be sure to check out the policy regarding who gets what and when if you decide to leave.

[Spotswoodboy]

Thanks for replying. I guess I would like information about specific communities because I am a bit leery about the actual cost per month which we would have to pay. I assumed the bundled communities include the cost of golf membership in the Master HOA and that there would/could be additional costs for cart fees. Is that correct?

[bbronston]

The ones I've seen...yes. I suppose it can vary from place to place, though. At almost all of the clubs there is a membership director or someone who handles that responsibility. Call them and find out what they have to say. Each is unique. You can approach this two ways. Identify the clubs you like best and wait for a suitable property to come along or find a house or houses you like and investigate the club to see if it works for you. Either approach works and, because it is a process, either one is valid.

[motordavid]

Chiming in from a bit further south, but every 'bundled golf community' here in Naples area has several fees:
-Annual 'Master Fee' aka Master Dues/Club Dues et al
-All I am familiar with have an annual food minimum which does not include alcohol/most bevs/tax and usual mandatory tip
-All I am familiar with have cart fees for each use; the couple bundled communities that allow private carts require an annual 'trail fee' which may provide for a high volume golfer to get ahead of his cart fee outlays.
-Some charge for range/practice balls, most do not.
-Whether the OP lives in a condo or 'coach home' or single family house, there will be an annual COA or HOA fee for maintenance, grounds, reserves, etc. That fee, which can vary from ~$1500 per yr to $5Gs per year, is often payable quarterly. Very few offer a 'monthly' payment arrangement on Master Fee or local HOA/COA fee.

As for 'getting on' your course in high winter season, many bundled communities here in the greater Naples area do suffer from very busy tee times in Jan-March, and many have tee times starting literally at 'dawn' in those months; getting 200+ rounds per day in on 18 holes is simply a reality in busy season, and a financial goal for many bundled golf communities.

That does not make it 'bad' or not recommended, but a fact of life. X amount of doors = X amount of potential golfers chasing X amount of tee times.

There are other questions one has to 'ask' in surveying golf communities, but those fees above are quite standard in most bundled golf communities, imo.
My 50Cts...
GL, mD

[Spotswoodboy]

Thanks for your advice and for the information. It certainly is a process and we have wavered back and forth as to the best way to approach it. The bottom line seems to be that you have to come up with an approach and then investigate the costs thoroughly. There don't seem to be any shortcuts.

[bbronston]

Well, you are definitely approaching it with your eyes wide open. Most people just focus on the property and/or the club, and assume that the HOA financials are OK. I've never seen where they are not (although condos can be a different story) unless it's a case of a development that never got off the ground back when the market turned but you are right to try to get as much info as you can. Your agent can help you with this but it probably makes sense to find a home you like in a place you like first and then confirm, as a part of your due diligence, that the HOA is not a problem at that point in time. Even with all of the foreclosure activity, and especially in a GC community, there will be far more owners who are paying than those who aren't so there is relative safety in those numbers.