Woodfield Country Club
Boca Raton, Florida
Woodfield Country Club Membership Fees
If you are considering purchasing a home in a country club, then you know you are purchasing a lifestyle as well as a home. Out of all the country clubs in Boca Raton, Woodfield is known as the Club with the youngest members and it is also one of the most reasonably priced when we look at the initial buy in, the equity refund at closing and the annual expenses. There are 2 main ways to buy in Woodfield as of April 1, 2015:
- Full Member: $45,000 equity contribution and + $20,000 initiation fee = $65,000 total
- Standard Member: $38,000 equity contribution and + $20,000 initiation fee = $58,000 total
The first question usually asked is "how much do I get back when I sell" at Woodfield. As of today, March 20, 2015, you get back 25% of your equity portion. This translates as follows:
- Full Member: $11,250 refund
- Standard Member: $9,500 refund
If you purchased your home prior to August 1, 2014, the equity refund was 50%. The country clubs are notorious for certain things, one of them being reducing the equity portion. In my opinion, better hurry up and buy because who knows when the club drops the equity portion to 0%. If that happens, it won't stop the sales in the Club. Back in June 2009, Polo Club dropped it 's equity portion to 0% and strictly became a fee based club. It's shocking at first, but eventually if the Club keeps up it's high standards, buyers will still want to join the Club, equity or not.
Another thing Clubs are notorious for are annual dues, fees and assessments. Instead of listing out the individual breakdown for buyers, I like to give a lump sum and the divide it by 12 so buyers can see their monthly cost:
- Full Member: $17,856 annually; $1488 per month
- Standard Member: $11,733 annually; $977.75 per month
Please don't be confused by my monthly breakdown. The fees are paid at various times through the year. You can either make lump sum payments or chose various payment plans offered by the Club. I only give the monthly breakdown because we find Buyer like to calculate monthly expenses
Also I want to mention Social Dues are no longer available as of April 1, 2015. You can disregard that section of teh Equity Membership Information above.
If you have any questions about the membership information or have more specific questions about how the membership works in certain circumstances like buying in a Corporation name or LLC as well as hundreds of other variables.
Craig Greenberg
561-376-8540
