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Old 08-20-2015, 08:47 PM
 
42 posts, read 72,355 times
Reputation: 22

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Hello everyone. Im new to the area just moved down from up north. Looking for houses under 450,000, but I noticed something that I really are not used to. A lot of these houses have mandatory country club membership. I dont really need any golf or social or anything that comes with them. But some of these seem really expensive, like 15k a year? Florida has low property taxes, but this just seems like another expense that makes taxes just as high as NJ my former state. Thanks.
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Old 08-22-2015, 07:22 AM
 
Location: West Palm Beach
216 posts, read 327,777 times
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Welcome to Florida. We went through the same as you when we moved from N.E. You are correct that the fees can be high. They pay for the upkeep and the amenities of the club which could be golf, tennis, pool, clubhouse, maintenance of the grounds, etc. For some it is worth it as it presents a convenient lifestyle that they can enjoy. For others it is not at all desirable. You need to carefully weigh the pros and cons for yourself. One by-product of having these fees, etc. is that it tends to put downward pressure on the value of the house. So that may be the reason you see a house for say $450k in one of these communities that is nicer or larger than some for $450k outside. You may find that you can spend less on the house and possibly making it more in line with what you are willing to spend overall.

So definitely do your research. I am not a realtor but I know several in West Palm or Boca area that I could refer if you are interested.
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Old 08-29-2015, 04:19 PM
 
42 posts, read 72,355 times
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Ok. Any other experiences?
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Old 08-30-2015, 09:48 AM
 
17,298 posts, read 22,023,110 times
Reputation: 29643
Quote:
Originally Posted by Wilddieng View Post
Ok. Any other experiences?
As posted earlier, the club expense can strangle the resale values especially as the club ages both in building year and membership average age.....Older clubs need new younger members and they want all the modern amenities of a nice new clubhouse which costs money that the older members do not want to spend.

Look at Boca West.....multiple golf courses with a big clubhouse. The social membership is $70,000 with annual dues of 12,000 a year (mandatory). They have 2/2 condos in there you can buy for as little as $2500, yep two thousand five hundred dollars! You must join the club, which kills the resale on the condos so they essentially have to be given away!

2.5K condo costs:

+ 70K club initiation
+ 12K annual dues
+ 450 month condo HOA fee

http://www.realtor.com/realestateand...70-93984?row=6

There are 5 more in the same building priced less.......


In my opinion, if you don't want the club experience don't buy in a CC neighborhood. When some of these condos were sold, club membership wasn't mandatory. Now since it is so your 150K condo is now worth $2500 due to the mandatory membership.

Golf/Country Clubs are a broken model. Too many older members who can't play anymore, young people don't play and certainly don't want to pay for it. Clubs have huge payrolls, overhead expenses and it all gets passed on to the members......bad math
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Old 08-30-2015, 02:16 PM
 
5,046 posts, read 9,619,399 times
Reputation: 4181
OH man, they went up. When we sold our Boca places we had had a great time with family and friends but the prices did not really go up that much. Guess where we made the most money....on selling our memberships. Big increases.
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Old 08-30-2015, 05:35 PM
 
2,391 posts, read 5,046,942 times
Reputation: 931
Quote:
Originally Posted by City Guy997S View Post
As posted earlier, the club expense can strangle the resale values especially as the club ages both in building year and membership average age.....Older clubs need new younger members and they want all the modern amenities of a nice new clubhouse which costs money that the older members do not want to spend.

Look at Boca West.....multiple golf courses with a big clubhouse. The social membership is $70,000 with annual dues of 12,000 a year (mandatory). They have 2/2 condos in there you can buy for as little as $2500, yep two thousand five hundred dollars! You must join the club, which kills the resale on the condos so they essentially have to be given away!

2.5K condo costs:

+ 70K club initiation
+ 12K annual dues
+ 450 month condo HOA fee

http://www.realtor.com/realestateand...70-93984?row=6

There are 5 more in the same building priced less.......


In my opinion, if you don't want the club experience don't buy in a CC neighborhood. When some of these condos were sold, club membership wasn't mandatory. Now since it is so your 150K condo is now worth $2500 due to the mandatory membership.

Golf/Country Clubs are a broken model. Too many older members who can't play anymore, young people don't play and certainly don't want to pay for it. Clubs have huge payrolls, overhead expenses and it all gets passed on to the members......bad math

I have a friend that lives there in Boca West. When they moved in, it was $25,000 a year. Now it is $75,000 not including the tennis that play which is $12-1500 extra a year somewhere they told me. They got assessed 2 years ago since the place was installing new windows and I don't know how much that cost either. I think they have to pay so much to the country club for the restaurants whether they eat there or not, I don't know. They have like 3 restaurants there, gym and so much more. They toured me around the place once and there are more than condos there. They have garden homes, high rise condos as well as beautiful homes...and of course a security entrances 24/7. They love it there and they have friends there too. Oh, and there is a dog park there too. Anyways, what is the annual dues for~? I thought the initial dues was high enough. I'm sure each community pays an HOA fee of some sort.
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Old 09-09-2015, 09:45 PM
 
42 posts, read 72,355 times
Reputation: 22
I have noticed that almost every community has a HOA which is not an issue. With HOA and Property taxes combined, im still not paying nearly as much as I was in New Jersey. I am just in no way interested in spending 75k for tennis and golf which I do not play....
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Old 09-10-2015, 06:48 AM
 
Location: Palm Beach County
1,708 posts, read 4,398,694 times
Reputation: 639
There are non golf communities in Boca in your price range.
Are you completely tied to Boca? There are plenty of nice neighborhoods in the surrounding cities that would offer you a nice house for your price range without a country club.
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Old 09-10-2015, 07:56 AM
 
Location: West Palm Beach
216 posts, read 327,777 times
Reputation: 333
Also, many clubs offer a social membership for considerably less than golf or tennis which would allow access to all other amenities such as gym, pool , restaurant - whatever.
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Old 09-17-2015, 12:30 AM
 
42 posts, read 72,355 times
Reputation: 22
Quote:
Originally Posted by skylinet View Post
There are non golf communities in Boca in your price range.
Are you completely tied to Boca? There are plenty of nice neighborhoods in the surrounding cities that would offer you a nice house for your price range without a country club.
I am attached to Boca because it is a very nice town, but mainly the schools. The school system is very important for my search. My oldest is graduating hs this year, but I have 2 middle schoolers and one in kindergarten. Currently renting in Broward county, and the schools here are a nightmare... I have been looking at boynton beach also, I just do not want to commute more than 20-25 minutes. I work in lauderdale lakes.
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