$1034 per month. Range balls, carts and club storage included.
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That's really strange. My course is equity as well. When and if I ever leave we own the membership and we have to sell it ourselves. We purchased ours for $18,000 and they are currently being sold for around $25,000.Club I'm looking at is $30k initiation and then $650 per month plus $19 cart fee per round. It's an equity membership and I'd get back 50% whatever they are charging for initiation at the time if I leave
My last club was non equity so when I left for my new job and moved 40 miles away I just left and got nothing back. I wasn't considering this club because of the $30k at first, but when they said I could get back 50% if I ever leave it made it more enticing. I thought with most equity memberships you had to do what you're describing but it definitely helps that you don't have to sell it. I'm sure initiation fees will go up over time so I could end getting back more than 50% of what I initially paid.That's really strange. My course is equity as well. When and if I ever leave we own the membership and we have to sell it ourselves. We purchased ours for $18,000 and they are currently being sold for around $25,000.
Bad part is if you happen to sell during a downturn they could go down to worth nothing. At one point during the 2008 recession people were giving them away just to get out of the dues.
With the growth of our area I only see the value going up as there are only 375 memberships and we are the only Country Club in a 70 miles.
Dues creep is the biggest thing we are dealing with. Every year they go up by 10% it seams. Then we all got a $5,000 assessment this year as well.My last club was non equity so when I left for my new job and moved 40 miles away I just left and got nothing back. I wasn't considering this club because of the $30k at first, but when they said I could get back 50% if I ever leave it made it more enticing. I thought with most equity memberships you had to do what you're describing but it definitely helps that you don't have to sell it. I'm sure initiation fees will go up over time so I could end getting back more than 50% of what I initially paid.
I was pretty set on joining the cc here next year, but was just talking with my friend who is a member and he's leaving because they doubled the dues (which are still relatively cheap compared to a lot of places). Now I'm a little less sure I'll be joining. They have 12 month+ wait list though, so can't really blame them.Dues creep is the biggest thing we are dealing with. Every year they go up by 10% it seams. Then we all got a $5,000 assessment this year as well.
What started out as a reasonable membership is quickly becoming a cost we are looking at very closely.
Don't get me wrong I cannot get anywhere close the value at any other course nearby.
Assessments are the downside to equity memberships. It hurts when they hit you with a big one for repairs after a storm or course renovations or whatever.Dues creep is the biggest thing we are dealing with. Every year they go up by 10% it seams. Then we all got a $5,000 assessment this year as well.
What started out as a reasonable membership is quickly becoming a cost we are looking at very closely.
Don't get me wrong I cannot get anywhere close the value at any other course nearby.
Very true. As long as the elected board is connected with the membership they are more likely to understand that not everyone can simply right a huge check at a moments notice.Assessments are the downside to equity memberships. It hurts when they hit you with a big one for repairs after a storm or course renovations or whatever.