Monday, November 17, 2014

Facts You Should Know When Buying a Condo

There are several excellent condos for sale in Myrtle Beach, SC. To make the ideal purchase, here are some important financial facts to keep in mind:

Homeowners’ Fees

One inescapable cost that isn’t always included in quotes for condo sale (which is why it’s best to ask your realtor about it) is the homeowner’s fee. This fee varies, depending on the condo owner, but it usually ranges somewhere around $80-$500 each month. Be aware of how much you will need to pay to keep yourself from getting burned at the last minute.

Unit Repairs

Be sure to ask realtors about how condo associations plan to bill repairs or renovations to the unit. Sometimes, your contract will specify that any repairs will be your responsibility, but there are certain fixes that the association will take care of themselves.


Always read the sales contract thoroughly in case you find any potential expenditure that you may need to pay, such as amenities you hardly use in the first place. This is often true for condos that charge for amenities, so if you’re paying for exclusive use of the condo pool, you might as well take advantage of it and swim every now and then.

All in all, buying great Myrtle Beach condos for sale that come with picturesque views and one-of-a-kind amenities can be an excellent investment venture. However, you should first see to it that you understand every aspect of what you’re paying for.

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