Another key would be to find out if it's an 'equity' membership or not. If not, then your $7k is down the tubes. If it is equity, then you are an 'owner' and will either make more money or lose money when you wish to sell. Find out what the memberships have done over the last year or so. You are buying into the 'high time' and most busy months, when everyone wants to tee it up. You might be better served to wait until fall (I believe that you have 12 months of golf in NC) when the prices tumble.
Something to consider, what have been the amounts of 'assessments' (funds required over and above the initiation or monthlies) for 'special' projects (such as watering system, new golf carts, rebuilding greens/clubhouse, etc). Find out if there is a 'waiting list' of sellers, and try to cut a deal with them, in other words, offer less than the $7k for their membership in order for them to unload it quickly (maybe new job, lost job, divorce). Finally, is there a 'transfer fee'? That is a fee that the club grabs (from seller or buyer, depending) that can be around $2k to 'transfer' title from old owner to new owner. A moneymaker for a club, especially in a transient community (air base, navy, high-tech firms).
If you are a walker, do you HAVE to pay a monthly fee for carts even if you don't use them? If you have your own cart, (or want to buy one), do you pay a 'special' fee to house it there (assuming you don't live within battery range) and/or drive your own on the course (sometimes you get charged a reduced fee for using your OWN cart - makes no sense but have seen it happen). Is there cart housing available at your course, and/or is there a loooong waiting list?
Most clubs price their food a bit less than the local eateries (Denny's, for example). What is the quality of the chef for dinners, (and is it a place that you'd like to take your spouse and/or clients). Food is a service, and most clubs do not plan to make money, but find that out as well. A profit & loss statement is available, so ask for one.
Finally (I know I'm long winded), do you have to make starting times on week ends (assuming you're a working stiff), or is it 'first-come, first-served' on the tee box on Saturday mornings. You might want to 'join' a regular group (lose a few bets/presses so they'll want your money) and you can get into a group that has guaranteed quality tee times on the week ends. 14-0 is dead nuts on the operating questions (cart fees) so ask those as well. Some 'hidden charges' are costs for range balls, bag storage, and other items that are too numerous to mention - ask what they are. If you negotiate with a seller directly, ask him.
Is there reciprocal play with other clubs in the area? Joining a CC is great, but it doesn't make sense (at least to me) to not play the course every time, but pay your monthlies AND a guest fee at another course. Which brings up the BIG question - is this a course that you ENJOY playing? Or are you enamored with the idea of joining a CC? If the course is a 'members' course (which means it's short and open) and you can score well, you'll get killed if you play at another guys' course. If it's too hard, beyond your probable skill level (Muirfield for example), then it's no fun to play. Most courses will give you a gratis round to see if you like the course. Remember for what you are paying, divide by the number of rounds you (reasonably please) will play in a month. That's your cost per round. Maybe you're better off mooching off of several other course members, and playing a different CC each week (usually guests get once a month rights), and paying the guest fee (again, lose some bets, presses, and be a good guy).
Sorry to ramble, but you can PM me with any specific questions....I'll be glad to help.
:gobucks3::gobucks4: