Home Buying in Myrtle Beach>Question Details

Mhadlum, Home Buyer in Myrtle Beach, SC

How much are typical HOA fees?

Asked by Mhadlum, Myrtle Beach, SC Sat May 15, 2010

I am considering purchasing a 1 bedroom oceanfront condo in Myrtle Beach in the $50,000 - $60,000 range and was trying to get an idea of the range for HOA fees. I understand that these fees can vary greatly, depending on the amenities that are offered, but a general range would be helpful in figuring monthly costs. Thank you.

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6
No condo is a good rental investment period. Ask anyone who has owned any rental condo what the income was vs what was outflow for cost to the owner. Don't buy any condo or home with an HOA if you are trying to stay on a budget. This is the only great advice anyone should ever get regarding HOA fees.
1 vote Thank Flag Link Mon Apr 22, 2013
I have helped hundreds of people generate consistent income through investment in oceanfront condos all with HOA's. The cost to operate should be known before you buy not after to ensure there is positive cash flow after all monthly expenses.
Flag Wed Jul 10, 2013
Hi Mhadium,

It basically depends on the amount of amenities and size of unit. For instance, a one bedroom typically can be $300-$500 a month, 2 bedrooms can be from $500 to $800 a month, and 3 bedrooms can be $800-$1,100 a month and so on. Let me know where you want this information for, and I can tell you.

Thanks and have a great day!
John Kim
843-504-0559
jkim@oceaninvestments.com
1 vote Thank Flag Link Sun May 16, 2010
I would be looking to purchase #1536 at Caravelle as my primary residence what are the expected Hoas and what do they include , ins, taxes electric water Etc, What are my monthly exspense going to be about.545
Flag Wed Oct 14, 2015
I am not sure why an agent from Dallas Texas is trying to answer this question about Myrtle Beach, SC. Most agents only answer questions in their area as we are specialists for our areas.

Here are some examples to help you get started:
Bluewater at 2001 S. Ocean Blvd is $350-$420/month
Boardwalk at 2300 N. Ocean Blvd is $450-$550/month
Caravelle at 6900 N. Ocean Blvd is $350-$550/month
Coral Beach at 1105 S. Ocean Blvd is $350/month
Davids Landing efficiency at 2708 S. Ocean Blvd is only $195/month

My personal preference is for the condos with higher N. Ocean Blvd addresses (over 6000) as it tends to feel more resort and less tourist. And they are good for rental/investments too.

If you find a property you like online and need more info, please email or call me. We offer sales, rentals and and property maintenance and management for reasonable fees.

Sue Straub, Broker, Realtor, GRI, HUD Agent, in Myrtle Beach, SC
952-270-4183
RoyalSusan@hotmail.com
1 vote Thank Flag Link Sat May 15, 2010
I am a homeowner and not a real estate agent. The fees vary on ammenities and a percentage of your square footage of unit and can range significantly. Some hoa fees will include building insurance and some are set up separately, but every homeowner will have to pay for insurance on the building. Also fees can be increased if need be by the board of directors. Another issue is special assessments. They can be imposed by the board of directors if there are significant repairs needed to the complex and not covered by the reserve fund. I just recently sold my ocean front condo after 12 years because of the increase in fees. Condos can be a mnoney pit.
0 votes Thank Flag Link Wed Feb 22, 2012
Hi,
Thanks for asking a question regarding HOA fees. Many of the fees depend on what is provided in both amenties and if insurance is included in the HOA fees. If a condo is located on the ocean it will most definitely have the highest HOA fees. If the complex includes and elevator or a pool the structure of the building, etc all will either make the HOA fees either be higher or lower and where it is located on the 60 stretch of the Grand Stran. Please let me know if I can be of further assistance.
Happy Duncan
843-222-8308
0 votes Thank Flag Link Sat May 15, 2010
It really depends on the resort you are buying in and what your HOA fees include. When looking at HOA fees make sure you know exactly what it includes. Some resorts may seem to have higher HOA fees but when you look at everything it includes it might be pretty reasonable. Some resort HOA fees even include electricity, insurance, cable TV, local phone, etc.

feel free to contact us with specific resorts and we will be happy to help you with each one in detail

Jason Morris
Exit Realty Elite
843-474-1031
0 votes Thank Flag Link Sat May 15, 2010
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