Owning a club membership is a way of life in upbeat Singapore. It serves two purposes:
First and foremost, it enables the family to enjoy the recreational and other facilities a club provides. This varies in extent and sophistication depending on the club and type of membership. Generally, you pay for what you get. Secondly, it is an asset. As an asset, its value is subject to factors beyond the control of the member. One factor is the vagaries of the market. Another factor is the hefty transfer fee (plus GST at the prevailing rate) that the seller has to pay.
Beyond that, but worthy of consideration are:
- The finance or holding costs (if the purchase is financed).
- The additional fees you have to pay in using the club facilities (particularly if you will be playing golf or introducing guests).
- The compulsory spending levy at some clubs.
- The monthly subscriptions (particularly if owning or thinking of buying additional memberships).
Some of the questions you should ask before buying:
- What facilities do I need?
- Which club offers the facilities I need?
- What is the cost of maintaining a club membership?
- Do I need a golf club membership?
- Is investment a primary objective? If yes, am I familiar with price trends?
- Do I need or can I afford more than one membership?
- What is the best way of buying or selling a club membership?
- Are all agents or brokers the same or equal?
SINGOLF can help you resolve your above queries and more. Singolf believes in client satisfaction and therefore does not require clients to sign options.
WHETHER you are buying or selling a particular club membership or just wanting advice
about clubs and club memberships, please contact Lee Lee by phone, or email.