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Old 01-16-2022, 08:05 PM
 
17,263 posts, read 21,998,333 times
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Quote:
Originally Posted by dcfas View Post
Yeah. The surprising thing is it still might be worth it. The problem, of course, is if you have to sell it. It sure looks tempting to me.
Some people got crushed in Boca West when the membership became mandatory for new buyers. Your 200K+ condo suddenly was worth 10% of that. The HOA rules prevented VRBO type rentals and the membership fees aren't relatable for a buyer of a low price unit. If the unit went foreclosure the banks just gave them away because they knew hanging on to them would just incur huge club dues.

I can't believe someone didn't scoop up those units and rent them seasonally as a golfers dream package. I couldn't see how to make it work from a snowbird standpoint.

Same issue in Delray at Delaire, you get a 2500 sq ft home on a golf course lot for 200-300-400K, nice house! Then the dues crush you, one former owner even had a website outlining the screwing you get from the HOA and the club dues.
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Old 01-17-2022, 11:58 AM
 
7 posts, read 10,267 times
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Quote:
Originally Posted by City Guy997S View Post
Some people got crushed in Boca West when the membership became mandatory for new buyers. Your 200K+ condo suddenly was worth 10% of that. The HOA rules prevented VRBO type rentals and the membership fees aren't relatable for a buyer of a low price unit. If the unit went foreclosure the banks just gave them away because they knew hanging on to them would just incur huge club dues.

I can't believe someone didn't scoop up those units and rent them seasonally as a golfers dream package. I couldn't see how to make it work from a snowbird standpoint.

Same issue in Delray at Delaire, you get a 2500 sq ft home on a golf course lot for 200-300-400K, nice house! Then the dues crush you, one former owner even had a website outlining the screwing you get from the HOA and the club dues.
Helpful to know. I saw in the other thread that you took a pretty negative view on the west Boca country clubs and HOA communities

Any thing that you would suggest as an alternative for someone who wants easy and frequent access to golf? Buying property in Delray or East Boca and joining a country club separately seems even more expensive, by several multiples.

Any good golf communities that aren’t such a disaster?
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Old 01-18-2022, 06:31 AM
 
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Quote:
Originally Posted by FutureSnowbird View Post
Helpful to know. I saw in the other thread that you took a pretty negative view on the west Boca country clubs and HOA communities

Any thing that you would suggest as an alternative for someone who wants easy and frequent access to golf? Buying property in Delray or East Boca and joining a country club separately seems even more expensive, by several multiples.

Any good golf communities that aren’t such a disaster?
No golf + forced membership = bad math for real estate. It has literally crushed every community they forced it into (Boca West, Boca Woods/Greens, Stonebridge, Boca Grove, Broken Sound). It didn't make much of a difference at Woodfield but that is also a higher price point as the other places offered small cheaper condos/townhouses. 1mm house in Woodfield + 75-100K club fee, not terrible but if it is a 100K condo and 75K club fee you can see the struggle.


Look into Boca Country Club. Club was owned by Boca Resort and Club (Pink Hotel) and they gave the place away to the city of Boca Raton for $1. City was thrilled, they got a nice club for free so they sold their former municipal course to a developer for 40 million or something crazy so they could build new homes.

So Boca Country Club is now a city course, access for everyone! That "might" bump the real estate higher because they don't have the club issue looming over their heads yet can still enjoy the club as a resident. I haven't been in there in 20+ years, the real estate was small courtyard townhouses from what I remember. It is close to I95 to jump 2 exits north to Atlantic Ave/beaches etc.
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Old 01-18-2022, 06:41 AM
 
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What bothers me on forced membership is the unending assault on your personal finances! The group decides to remodel the clubhouse and then expect you to pay for it!

This just happened at Mirasol in PBG. Clubhouse was 10 years old, they voted and narrowly approved (like less than 5% majority) a monster remodel/addition along with a $30,000,000 loan to pay for it! 30MM!!!!!!!

Here comes the killer, if the current clubhouse was too old/small/outdated then what is going to happen in 10 more years when they tell everyone they need to remodel it again and oh by the way the 30MM loan isn't paid off yet so we need a new loan to cover the old debt and the new debt.

90% of the current Mirasol members will not be alive when that loan is paid off. So we have boomers financing current remodels over 30 years yet history has already shown that the place gets outdated in 10. It can't work. Mirasol will soon have 20+ year old homes (that weren't great when new), a club saddled with debt and buyers will steer clear of it for fear o getting stuck with old homes that are depreciating and the titanic for a club!


https://www.palmbeachpost.com/story/...ub/7030081007/
40 million dollar remodel, 30 million dollar loan. 1170 homes = Bad Math
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Old 01-18-2022, 07:54 AM
 
Location: Gainesville, FL; formerly Weston, FL
3,233 posts, read 3,186,050 times
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I agree with City Guy’s suggestion of finding a nice municipal course. Cheaper, gives you more options on where to live, and honestly, I think the clientele is generally younger.

I used to play on the municipal course in Pompano Beach off of US 1 with a client. My husband would play on the Sunrise and Key Biscayne courses. I think that is the way to go. Mandatory golf course communities can be a financial disaster. And there’s a lot of them in PBC.
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Old 01-18-2022, 09:34 AM
 
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Yikes, appreciate all of the insight on how bad these golf communities are, especially for real estate value. To be clear though, I am an avid golfer. Really looking for insight as to what is a great place for a young professional to have easy and often access to golf and still have proximity to a lively area like Delray Beach.

I really want to do better than playing at munis. Any suggestions for standalone country clubs that don't require residency? Maybe the move is just getting a condo in Delray Beach, Ft. Lauderdale, or Miami and finding a CC nearby.... not really looking to play municipal courses.

Last edited by FutureSnowbird; 01-18-2022 at 09:58 AM..
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Old 01-18-2022, 04:56 PM
 
17,263 posts, read 21,998,333 times
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Quote:
Originally Posted by FutureSnowbird View Post

I really want to do better than playing at munis. Any suggestions for standalone country clubs that don't require residency?.
Your missing the point.........the newest muni course for the city of Boca Raton was previously a members only course owned by the Boca Resort! So this time last year if you rented a room at the Boca Resort for $600 a night, they would let you play this course for likely $150 a round!

Now you can play the exact same course for probably closer to $100

https://www.bocamag.com/boca-country...e-in-takeover/
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Old 01-19-2022, 10:03 AM
 
Location: Gainesville, FL; formerly Weston, FL
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Since you mention Ft. Lauderdale, Coral Ridge Country Club is nice. The initiation fee is about $50k I think (might be higher now). I don't know what the annual dues are.

You're close to Las Olas and Lauderdale By The Sea. It's a mixed area but lots of younger families, working professionals live on the east side of town, in addition to retirees.
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Old 01-19-2022, 11:05 AM
 
7 posts, read 10,267 times
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Quote:
Originally Posted by wizrap View Post
Since you mention Ft. Lauderdale, Coral Ridge Country Club is nice. The initiation fee is about $50k I think (might be higher now). I don't know what the annual dues are.

You're close to Las Olas and Lauderdale By The Sea. It's a mixed area but lots of younger families, working professionals live on the east side of town, in addition to retirees.
Awesome, appreciate it. I've started pivoting to Ft. Lauderdale the last couple days of searching in fact! Spoke with Coral Ridge and they have a lengthy waitlist for golf at the moment, if that's useful for anyone else reading this. Checking out some other CC's in the area - I think the move may be standalone condo/country club in Broward county. Appreciate all the insight.
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Old 04-24-2022, 10:31 AM
 
37 posts, read 36,918 times
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Quote:
Originally Posted by FutureSnowbird View Post
Awesome, appreciate it. I've started pivoting to Ft. Lauderdale the last couple days of searching in fact! Spoke with Coral Ridge and they have a lengthy waitlist for golf at the moment, if that's useful for anyone else reading this. Checking out some other CC's in the area - I think the move may be standalone condo/country club in Broward county. Appreciate all the insight.
Where did you end up? I'm also looking to join a club in the area and am an avid golfer
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