How high are the home owner fees in the MB area including North and South? (Myrtle Beach: real estate)

[InterestedinSC]

[FONT=Verdana][FONT=Verdana]Dear residents,[/FONT]
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[FONT=Verdana]I am European and I am interested in buying a second home in SC, close the beach preferably. Most of the property listed, even single family houses had a home owner fee attached. Most of them appear to be on leased land. This puzzled me, because I thought that when you buy a house you buy the land also.[/FONT]
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[FONT=Verdana]Could you give me some idea how much are these fees. Also what does it mean the "new owner will have to renegotiate the lease"? Is this generally a good or a bad thing in this economy?[/FONT]
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[FONT=Verdana]Is it more convenient to buy a townhouse instead, since there are HOA fees but a least somebody is looking after the property. What are the average HOA fees if there is a community pool on the property? (I don't care about the pool, but a lot of condos I looked at had them)[/FONT]
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[FONT=Verdana]Also, do you have any suggestions what areas should I look into? I know this is subjective, so just give me your own opinion of your likes and dislikes.[/FONT]
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[FONT=Verdana]I personally like going to the beach and I ride a bicycle, so I am looking for a location that is not too far from the beach, but is a but out of the main drag.[/FONT]
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[FONT=Verdana]Your suggestions and comments are highly appreciated.[/FONT]
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[FONT=Verdana]Thanks![/FONT]
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[Tinabean]

Hi INterestedinSC. This is an excellent time to purchase that second home if you have some disposable cash. I always wanted a little "shack by the sea" as a family place. I even enjoy the beach during Fall and Winter. I'll give you my opinions based on the questions you asked.....

1. We own a two bedroom condo with an ocean-view directly across a small, two-lane road from the beach....3 minute walk. Our HOA, which includes structure insurance!, is $275 per month.
2. I recommend a condo/townhome as opposed to a house if you are not close enough to manage repairs yourself. But of course, that is personal preference. My husband and I plan to sell our condo and upgrade to a single family beach house in 5-7 years, when we are in our 40s. Right now, there would be too much maintenance for a beach house with us both working full-time and also keeping up a 12 acre farm.
3. You will want a pool with either a condo or beach house for the resale value. It is extremely hot in SC during the summer and folks want to be able to swim in a pool. I strongly suggest you rethink that point.
4. If you buy in Myrtle Beach you will definitely want to get EAST of Hwy 17 (THE BEACHSIDE!). Hwy 17 is an extremely busy road and you will not want to cross that traffic on your bike. Be sure to communicate this to your realtor. This is an important point.
5. Murrell's inlet is a pretty area but it is only Marsh, I believe. I have not seen any swimming beaches in the MI area.....keep this in mind as you evaluate the area. I am partial to GArden City because it is far enough away from MB but close enough to go for dinner or entertainment. Pawley's Island is much quieter....again, tell your Real Estate agent what you are looking for and they will help to direct you. I would not recommend any of the inland complexes...they are nice and new but the distance to the ocean is a pain in the ass, really. My thought is if you are moving to be near the sea, get a place within walking distance....but again, you will get more square footage the further away you get from the ocean.

I hope this helps. Feel free to post any questions as you work through your research on the area. I truly believe that this is the time to move on your dream...... beach property will not be this cheap again, in my opinion. I've seen some TO DIE FOR beach houses in the $350,000 range with pools within a block of the beach.

Good luck to you and your family.......

[InterestedinSC]

[FONT=Verdana]Hi Tinabean,[/FONT]
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[FONT=Verdana]Thank you very much for your reply. You make a good point about the pool, I will definitely reconsider that. It was very thoughtful of you to tell me about the traffic on HW 17. I read on some other posts too that traffic could get really bad in some areas. It is good to know this things, especially for some one like me, who really doesn't like driving. [/FONT]
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[FONT=Verdana]That of course puts me at a disadvantage in some situations so, planning accordingly and thinking of creative alternatives goes a long way. [/FONT]
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[FONT=Verdana]Your property is in good location and your HOA fees are not too high. $3300 a year is not bad at all, since, you live there all year round and take advantage of the amenities.[/FONT]
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[FONT=Verdana]You are right that now is a good time to look into buying property, either for investment or for retirement. I am more interested in the later actually, and I am looking into various different areas. [/FONT]
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[FONT=Verdana]My husband and I do not want to have a big mortgage to pay when we retire (in 10-15 years), so we are looking for something small and affordable. [/FONT]
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[FONT=Verdana]Your suggestions help, and I will look up the areas you mentioned.[/FONT]
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[FONT=Verdana] [/FONT][FONT=Verdana]Thank you![/FONT]

[Tinabean]

My pleasure. We are all here on this planet to be a contributing part of community. Glad that you found something I knew useful. Good luck in making ALL of your dreams come true!

[goldie1706]

Where you live sounds great, may I ask where that is?