Eric, Home Buyer in Boca Raton, FL

When it says $30,000 membership does that mean it is a one time fee? When it says HOA fees $1,339 does that mean per year or per month?

Asked by Eric, Boca Raton, FL Sun May 5, 2013

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Susanna Malm…, Agent, Jupiter, FL
Mon May 13, 2013
Dear Eric,
Jeremy has given you a detailed answer. In addition, I would say in our MLS it always says after the HOA dues if they are per month, per quarter or per year. The $30,000 membership fee you are referring to is most likely a one time fee. Without knowing what community you are asking about we can only give general answers. Refundable portion of membership can vary from 0 to 100%. Annual dues, initiation fees, hoa fees, trail fees and minimum social expenditure is in addition to the membership fees.

Sincerely, Susanna
0 votes
Jeremy Olsher, Agent, Delray Beach, FL
Sun May 5, 2013
When buying in a country club, you will have many different fees/costs associated with it.

First is the equity membership fee. This is a one time fee to join the club. For example, if you pay $75,000 to join a Country Club. You will pay the Country Club directly at closing for this fee. This is not part of the purchase price of the home, it is an additional cost and is mandatory to join a country club.

Usually when you sell a property in a country club, you will only get back a portion of that equity fee. It could be 80%, 70%, and in some cases 0%. This varies in all country clubs.

Country Club Fees will be associated on an annual basis. Usually, a full country club membership will include access to a private golf club, tennis club, and all social amenities. A social membership will usually be the least expensive, but you will have no access to the golf club or tennis club. (Only the main club house activities, pool, dinner, etc) You will have to pay these fees to the Country Club directly after you purchase your property. This could be as low as $2000 per year, or as much as $40,000 per year in our area. Typically a golf membership in a country club is approximately $15,000 a year or so, depending on the club.

Other hidden fees could be a food minimum in the country club, tipping charge for the year so you will not have to tip ever when going to the club, or trail fees (if you own a golf cart and use it for the course and getting around the country club)

Now we come to HOA fees, which are separate, and you pay the Home Owners Association and not the country club. These are usually $1800 per quarter year (or $7,200 a year) on average in Boca Raton, FL. This pays for the common areas, landscaping, and all areas associated with your homes within the subdivision that you live inside the country club.

In summary, figure you have to pay $75,000 to join a certain club.

$15,000 a year to be a full golf equity member
$1,000 a year in tipping
$1,800 a year in trail fees, to use your golf cart within the community
$2,000 a year in food minimum
=
$19,800 for country club fees

$7,200 a year for Home Owners Association dues

Added up, that is $27,000 a year to belong to a Country Club.

Separate costs will be your home mortgage, home owners insurance policy, property taxes, and all electric, water, cable, phone, internet bills, and home maintenance.
0 votes
Stephen Jara, Agent, Delray Beach, FL
Sun May 5, 2013
Eric,

It appears that you are looking at properties in Private Country Clubs. There are some fantastic opportunities to purchase homes at great prices in these communities. You have to be very knowledgable with these fees. I suggest you find a real estate agent who is familiar in Country Clubs and can assist you in this process. I would be happy to assist you once you get to become familiar with me and my background. There are several qualified agents and brokers to help you, do your due diligence and find a great match. There are numerous private country clubs with mandatory club memberships, each development has it's own regulations. Good luck.

Stephen Jara
President and Managing Broker
Pristine Properties International
http://www.PrivateClubRealty.com
(561) 436-1000
0 votes
Joan Lorberb…, Agent, Boca Raton, FL
Sun May 5, 2013
Hi Eric!
Because there isn't a particular property your question refers to I will offer you answers that I believe to be correct! That membership fee is most probably a one time fee for a country club membership. I can say with pretty much certainty that no club in this area has annual dues that high. Thank goodness!!!
And, the same goes for that high HOA fee. It could be possible but more than likely it is the quarterly amount of the HOA. HOA and condo fees in this area are usually due an payable quarterly.

Please let me know if I can assist you further.

Thanks!!!

JOAN LORBERBAUM MOORE
Broker Associate, GRI
Lang Realty
9858 Clint Moore Road
Boca Raton, FL 33496
http://www.boca-delray-boynton.com
561-573-3238
JoanMooreRealtor@GMail.com
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