When searching for Boca Raton real estate be sure to keep in mind the value may not be what it seems when you include equity membership — initiation fees — monthly or quarterly maintenance — food and beverage minimums — tipping fees, etc.
When searching for Boca Raton real estate you need to be quite careful. It may look like as a great value but as you research them further many times you find that there are quite a few related cost to the property. For example there are several communities that have mandatory equity fees when you purchase. Not only are these equity fees many times very high, but they are not financial in most cases. So you’re buying your property and your pain 200,000 and your able to finance in many cases up to 90 or 95% of the value this is not the case with equity membership. The equity memberships usually run between 30,000 and 125,000 in indoor around Boca Raton. So you’re needing to come up with this extra money in cash along with your down payment and your other cost related to purchasing the property. When you decide to sell you may or may not get back all of your money. In many cases you get back a percent of this initial cost and sometimes you have to wait to get that return. If you want something beyond the social membership i.e. tennis or golf these fees will even go higher. In this economy very few people will want to tackle these kind of costs.
In addition to the equity membership most communities also have an initiation fee and those are now what’s problems on run anywhere from $10,000 to as much as $30,000 depending on the community. Of course your initiation fee is a totally nonrefundable fee. You will also have quarterly maintenance in many cases a food and beverage minimum. The communities sometimes brag that there is no tipping but they will charge you a monthly or annual tipping fee. So there’s no tipping instead there is mandatory tipping!
The link below is a good example what I’m mentioning here . this property appears to be a great value in Boca West but if you look further you find that the property has at mandatory $70,000 equity membership and then many other fees as well .