You should buy club shares only if this is the cheapest way for you to use the club facilities. Consider your money an expense, not an investment.
How is club shares different from playing rights in a golf country club?
If you invest in club shares, you are part owner of the club. If ever the club is liquidated and its assets sold off, you will have a share in any money that is left over after the club's debts have been paid. And even if the club is not liquidated, the value of your shares could rise (or fall) depending on what assets the club owns. There are some clubs whose main asset is the land on which the club is built. That land is worth a lot of money now.
Generally club fees can be a good investment, a club is like a company or corporation, the service, the reputation...and of course performance should be considered. Now if you go for the more established clubs, or country clubs etc etc. they should appreciate over time but of course, it's more on the long haul investment variety.
I think this is only a good "investment" (not actually an investment but a way to save) if you are a very active user of the facilities. that is, yearly savings should be greater than the 12 months due plus (annual bond rate x purchase cost).
Why don’t you just invest your money to the bond market and pay the regular rate for the facilities use.
I love playing golf so I thought it could be a good investments if I can get profits and play at the same time. Thank you all for your opinion!!