Myrtle Beach Condos For Sale And The Baby Boomers

Myrtle Beach Condos For Sale And The Baby Boomers

Myrtle Beach Condos For SaleMany baby boomers who are in their retirement years are looking to buy Myrtle Beach condos for sale either as a form of investment or their own retirement pad. Many experts will agree this transition is beneficial to the elderly as the condo could be their source of income – should they choose to rent it out – or a practical and convenient dwelling where they can spend their retirement years.

However, before jumping into the wagon and spending money on the first condo unit offered to them, it is important that baby boomers spend time considering certain factors and learning everything they can about living in a condo unit. Keep in mind that this is not a cheap investment and, thus, safety and precautions should be observed when in the purchase process.

Here are some of the top things baby boomers should know about Myrtle Beach condos for sale.

1. There are homeowners’ association rules that should be strictly followed. Condo buildings are operated and managed by a governing board or a homeowners’ association. They implement sets of rules to ensure organization and peace throughout the condo. Some of these rules may seem limiting or restricting to the baby boomers. Thus, it is important to review the rules that each condo building has. Remember that these rules may vary depending on the governing board and homeowners’ association.

2. Hardwood floors should be covered. Living in a condo means living above and below another family or individual. To maintain peace among condo unit owners and residents, some condo associations require each owner or resident to cover at least 80% of their hardwood flooring to minimize the noise.

3. Parking space might only be used for parking. Many Myrtle Beach condos for sale come with their own parking space. Although every condo owner has all the rights in their own personal parking space, they cannot use it for other purposes. If they don’t have a car, the space will still be reserved for them but it cannot be used for storage or other purposes.

4. There are certain hours when noise is restricted. For baby boomers, this is excellent news as they will have their peace and quiet some hours in the morning and in the evening when they are preparing for bed. With regard to this rule, it is also important to consider the condo building’s construction, whether or not the walls are made of concrete or wood. Keep in mind that concrete blocks noise better than wood.

5. There may be restrictions about bringing in and living with pets. Many condo building associations do not allow bringing pets inside the building and condo unit. This is primarily for the safety of other residents in the building. There are associations that allow pets inside although they may have restrictions regarding size, weight, and number of pets for each condo unit owner.

For more information on Myrtle Beach condos for sale, contact Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-839-9870
http://myrtlebeach-condosforsale.com

Your partners in choosing the best and most suitable Myrtle Beach condos for sale.

Essential Guide When Buying Myrtle Beach Condos For Sale

Essential Guide When Buying Myrtle Beach Condos For Sale

Myrtle Beach Condos for SaleThere are lots of things to consider, assess, and keep in mind when buying Myrtle Beach condos for sale. It’s easy to just give up and throw the whole idea out the window. If you are looking to purchase condos – whether as a form of investment or a place of residence – it is important that you learn a few things about the condo building and the association or the governing board before you actually make the purchase. This will help you more effectively prepare for all the turns and bumps that you are sure to experience as you go through the condo purchasing process.

Below is an easy guide you can follow to help you assess Myrtle Beach condos for sale.

1. Look at the condo association rules

One thing you should know about living in a condo is that you have limited control over how you want to use and decorate the condo. There are specific rules and regulations set by the condo association that you will have to follow if you want to live in the condo unit. These rules are specifically created to help maintain a peace and organization throughout the building as well as to ensure the safety and security of every condo unit owner and resident.

Each condo building association may implement different sets of rules. So you might want to continue looking for Myrtle Beach condos for sale until you find one with rules and regulations that you can live with.

Some of these rules may include:

  • Modification limitations – particularly on the exterior of the condo unit
  • Number of individuals to live in the condo unit or stay overnight
  • Use and maintenance of common areas including swimming pool, gym, and spa
  • Living with pets

2. Look at the building’s master insurance policy and requirements

You need to look at the building’s master insurance policy to verify what other types of insurance policies you need to get if you decide to buy a unit. And if you will have to get additional insurance, you need to know about the building’s requirements.

Among the additional insurance that condo owners commonly get for their condo units is the physical loss and liability insurance, which may cover your entire unit along with all your belongings and possessions. Make sure you are working with an independent agent to help you obtain the necessary insurance for your condo purchase.

3. Don’t forget about lender required insurance

If you are getting a mortgage for your condo purchase, you will also have to consider the particular requirements of your mortgage lender. They may require certain types insurance coverage, such as flood insurance, if the condo building is located in a flood-prone area. Keep in mind, however, that some flood insurance premiums could increase every year, which you will have to pay as long as you are using the mortgage. Your best option would be to buy a unit that is not located in a flood-prone area.

For more information on Myrtle Beach condos for sale, call Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-839-9870
http://myrtlebeach-condosforsale.com

Working with you to ensure you are buying the right and most appropriate Myrtle Beach condos for sale.

What To Research When Choosing Myrtle Beach Condos For Sale

What To Research When Choosing Myrtle Beach Condos For Sale

Myrtle Beach Condos for SaleBuying Myrtle Beach condos for sale – whether for investment or personal use – is not an easy process. It can be an exhausting and stressful process if you do it on your own without professional assistance and if you don’t know what you’re doing. However, it can also be an exciting and simple process if you choose to work with a professional and have all the support that you need.

There are some important considerations you will have to make before deciding to buy and before signing the purchase contract. Among the primary factors that you should consider are the condo unit’s and condo building’s insurance policies and the history or background of both the condo building and the condo association as well.

Condo unit and condo building insurance

This is one of the primary differences of buying a single-family home and a condo unit. When you buy a house, you will need to insure not only the house, but also everything inside the house and the entire property including everything in and on the lawn. Myrtle Beach condos for sale, on the other hand, already have policies covering the entire building. The costs are then divided among all the residents in the building. So you pay lower insurance fees as compared to the fees you pay for complete real estate insurance.

You also have the option to add other types of insurance to your condo unit. Keep in mind that while the building is covered, everything inside your condo unit is not insured. Thus, you need to buy policies to cover your furniture and other belongings. Other types of insurance that condo owners and buyers may need are disaster and flood insurance. Confirm with your condo building association whether or not they already have these for the entire building.

History and background of Myrtle Beach condos for sale

It is important that you learn and find out everything you can about the condo unit and the governing condo building association before you close the deal. Some of the ways you can easily do this include:

  • Requesting copies of the condo association’s books
  • Talking to potential neighbors and inquiring about their experiences with the unit and building
  • Asking the real estate agent who is on-site when you first visited the building

You would also want to know more about the condo building’s management system. More specifically, find out how the condo association is managing and maintaining the building. This will help you better know the condo association, particularly on how they resolve issues and residents’ concerns. Plus, they should be active enough that every owner knows a lot about them.

Looking for more information? Speak to a Myrtle Beach condos for sale professional by calling Jerry Pinkas Real Estate Experts.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-839-9870
http://myrtlebeach-condosforsale.com

Providing you with high quality information and services on Myrtle Beach condos for sale.

Assessing The Board When Buying Myrtle Beach Condos For Sale

Assessing The Board When Buying Myrtle Beach Condos For Sale

Myrtle Beach Condos For SaleThe governing board in Myrtle Beach condos for sale plays a critical role in the success of your condo purchase. It is important to make sure that the condo board association is not experiencing any problems with regards to managing the building. Or if they are experiencing problems, they are able to resolve the issues quickly and efficiently.

According to experts, buying a condo unit from a smooth running and financially healthy governing board association will ensure that you as a condo owner will not have any problems while living in the condo unit. Plus, you can be rest assured that they are financially able and efficiently capable of resolving any issues that could arise with condo owners and tenants.

Here are some of the common issues that you might experience and will have to resolve with the governing board association after buying Myrtle Beach condos for sale.

1. Maintenance

This is one of the most common issues that arise between the governing board and condo owners or tenants. Basically, maintenance of the common areas including hallways, lobby, conference rooms, ballrooms, spa, swimming pool, gym is the responsibility of the condo association. The governing board of a condo building should oversee regular maintenance of the common areas as well as the necessary repairs. If you notice repairs and maintenance issues being resolved almost every month, it may indicate that the board is ineffective or inefficient.

2. Disputes with residents

Another common issue you would want to take a look at are disputes with residents. Your neighbors have different opinions regarding how the condo building is managed by the board. Talk to them and inquire about how they are finding the board and whether or not they think it is doing an efficient job in managing the building. Also find out if they had any disputes with the governing board and how their issues were resolved.

Similarly with maintenance issues, even though the board is able to smoothly resolve issues and problems with the residents, it doesn’t immediately mean they are effective. You might want to look at what caused the issue and the frequency of the same issue.

3. Homeowners’ association rules

Myrtle Beach condos for sale have different sets of rules that every resident and condo owner should abide with. You will need to learn about and review these rules before you decide to buy a condo unit. You don’t want to get into a dispute with the governing board just because you didn’t know pets were not allowed inside the building. Request a copy of the rules and spend time going over it before deciding to buy. Keep in mind that although these rules may limit how you want to live in the condo building, they are specifically chosen and created to help better protect you and the other residents in the building.

For more information on Myrtle Beach condos for sale and condo building associations, call Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-839-9870
http://myrtlebeach-condosforsale.com

Your only source of quality Myrtle Beach condos for sale information.

Buying Myrtle Beach Condos For Sale? Check The HOA First

Buying Myrtle Beach Condos For Sale? Check The HOA First

Myrtle Beach Condos For SaleIt is important that you check the HOA first before you consider deciding which Myrtle Beach condos for sale to buy. It will save you a lot of money and time if you learn more about how the HOA or homeowners’ association of the condo you are considering purchasing are running things and operating the entire condo building.

There might be policies and/or regulations that you don’t agree with. And you don’t want to learn about these after you’ve bought the condo unit. Because you would then have to either learn to live with these rules and regulations or look to resell the unit as soon as after you’ve bought it – which might not look appealing to potential buyers.

What about the homeowners’ association?

A condo’s homeowners’ association is generally the governing body responsible for determining the monthly dues you will have to pay on top of your monthly payment for the condo unit. They are also responsible for allocating the dues they receive from the condo unit owners in different aspects of the building’s maintenance – i.e. insurance costs, necessary repairs and required building upgrades, and expenses on cleaning and maintaining the common areas.

In line with their responsibilities for building maintenance, they are also responsible for setting up rules and regulations that all condo owners and occupants should abide with. This may include restrictions in bringing pets inside the building, curfew hours, and the operating hours for the swimming pool. These rules may depend on the neighborhood where the condo is situated.

The HOA of various Myrtle Beach condos for sale have different rules and regulations and may implement different policies regarding payment of the HOA fees. They may also have different types of reprimands for those who delay their payment of HOA fees.

According to industry experts, it helps if you join the HOA of the condo unit you are considering buying before you actually pay for the unit. This will help you learn more about the governing association. Most condo buildings allow potential buyers to join the HOA in advance or attend one of their monthly meetings.

Here’s a list of things you might want to ask when you attend one of the HOA meetings of the Myrtle Beach condos for sale you are considering buying:

  • What are the monthly dues? Do you accept automatic debit payment?
  • Can I ask for a copy of your CC&Rs (covenants, conditions, and restrictions) and bylaws? – Note that this will help you have a deeper understanding on the rules and policies, allowing you to decide whether or not you can live and abide by them.
  • Have you made any special assessments in the last three years?
  • Can I ask for a copy of the latest budget assessments and minutes of the most recent meeting?

Spending time to get to know the condo unit’s HOA before deciding to buy or not would surely save you lots of money down the road. If you have questions or want to learn more about this, contact a Myrtle Beach condos for sale agent at Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-839-9870
http://myrtlebeach-condosforsale.com

Your partners in finding the best Myrtle Beach condos for sale.

Buying Myrtle Beach Condos For Sale With Confidence

Buying Myrtle Beach Condos For Sale With Confidence

Myrtle Beach Condos For SaleThe cost of buying Myrtle Beach condos for sale is continuously increasing. Although mortgage rates remain low, there are still various other expenses to consider in the purchase process. This is probably why lots of condo buyers have little confidence in buying and put their purchase on hold.

If you want to be able to buy condos without fear of failing and putting your hard-earned money to waste, there are basically two things you have to keep in mind: working with a professional real estate agent and becoming a smarter shopper.

Working with a real estate agent to help you in buying Myrtle Beach condos for sale

Generally, majority of the condo buyers can be considered as entry-level buyers. They don’t know much about how the purchase process works and are mostly just excited to finally be able to make an investment on their own. These individuals would, thus, benefit greatly in working with a real estate agent.

Here are some of the ways a real estate agent could help an entry-level buyer:

  • Helpful insider’s information on the condo unit, condo building, and homeowners’ association that would help the buyer assess whether or not the condo suits his or her needs.
  • Connection with various mortgage loan providers that offer reasonable and unchanging rates as well as to insurance providers. Their connection provides you with discounts and fast approval of loans. All of which you would otherwise have no access to should you not hire a real estate professional.
  • Necessary negotiation skills that would help buyers purchase the condo unit in the most reasonable price that would benefit both buyer and the seller.

Becoming a smarter Myrtle Beach condos for sale shopper

A smart condo buyer has confidence in the purchases he or she makes not only because of working with a legit real estate professional but also because of taking the necessary precautions. Here are some essential considerations that a smart condo shopper makes:

• The number of condo units in the building that are owner-occupied.
Note that a condo building that has more units owned by investors or rented out may have negative impact on other unoccupied condo units.

The maintenance of the building
A smart condo shopper looks at how a building – particularly the common areas – are maintained. Poor maintenance signify the homeowners’ association is not doing a great job running the building and if this is your first investment, you wouldn’t want to live in a poorly maintained building.

• The application process
A homeowners’ association that implements an application process for potential buyers of their condo units mean they specifically choose who to sell to, ensuring the condo unit owners much protection and safety.

When buying condos, it’s not only important that you are comfortable and happy with your purchase. It also helps if you are confident in the condo unit that you buy, giving you peace of mind that you will be able fully pay for it and enjoy living in it.

Looking for Myrtle Beach condos for sale? Contact Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-839-9870
http://myrtlebeach-condosforsale.com

Helping you find the best Myrtle Beach condos for sale to buy.

Myrtle Beach Condos For Sale Buyers’ Guide: Pros And Cons

Myrtle Beach Condos For Sale Buyers’ Guide: Pros And Cons

Myrtle Beach Condos For SaleFor those who want more amenities but with less maintenance and affordable costs, Myrtle Beach condos for sale are what you’re looking for. A condo unit would be perfect for you especially if you’re looking to save time and money in travelling to and from your place of work as there are many condo buildings located near the business centers.

There are other benefits of living in a condo unit. However, it is important that you also consider the disadvantages of condo living before you decide to purchase one. Spend time thinking about the pros and cons to help you make the right decision. Remember, a condo is a form of real estate investment that doesn’t come cheaply, although it can be more affordable than a home. Make the most out of the money you will be spending on this purchase by really thinking whether or not this is right for you.

Here are some of the pros and cons of Myrtle Beach condos for sale that you would like to consider.

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3 Things To Check Before Buying Myrtle Beach Condos For Sale

3 Things To Check Before Buying Myrtle Beach Condos For Sale

Myrtle Beach Condos For SaleBefore you sign that contract, there are some aspects of Myrtle Beach condos for sale that you need to consider. More specifically, you’ll want to check the maintenance process, the insurance coverage, and noise issues. Read below to learn more about each aspect.

How are Myrtle Beach condos for sale maintained?

Maintenance is one of the major issues in a condo investment venture. Generally, as indicated in the Covenants, Conditions & Restrictions (CC&R’s) of each condo building association, the association is responsible for the maintenance and repair of all the common areas in the building. This is actually where part of your monthly homeowners’ association fees is allocated. On the other hand, the maintenance of everything that is inside each owned condo unit is the responsibility of the owner.

While this is indeed a nice and organized set up, it can sometimes cause problems especially if the condo unit owner and the condo association claim different sides on a maintenance issue; more specifically, if you noticed a termite problem in the attic and raised the issue to the condo association, but their pest control contractor says otherwise. To resolve this, you and the condo association will have to agree on hiring another pest control contractor to confirm the termite problem.

What is covered by the master insurance policy of the Myrtle Beach condos for sale?

Another important issue you will want to address before closing the deal is the insurance coverage. Generally, the entire building should be covered in the insurance coverage. On the other hand, you want to know the boundaries and limitations of the insurance coverage policy so you know what else to get for your condo unit.

This is most particularly important when it comes to earthquake and hurricane insurance coverage. Not all condo buildings have this type of insurance. If you are in an area that is prone to these weather occurrences, you might want to buy from a condo building that has these insurance policies.

What about noise issues?

Bear in mind that you will have next door neighbors in a condo building. Try to visit, in different times of the day and even during the night, the condo building where you will be buying to check whether or not you’ll be having problems with noise from your neighbors.

You might want to check if the units above have hardwood floor or not. If they do, have someone walk on the top unit while you assess in your unit the noise that will be made. Also, if the unit is located near the swimming pool or any of the frequented common areas, you might want to check how much noise you’ll hear when inside the condo unit.

It’s important that you choose the most suitable Myrtle Beach condos for sale for your needs. Hire professional help you ensure you are making the right choice. Call Jerry Pinkas Real Estate Experts now to inquire about their services.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-839-9870
http://myrtlebeach-condosforsale.com

Helping you find the best Myrtle Beach condos for sale for your needs.

Learning More About HOA Fees In Myrtle Beach Condos For Sale

Learning More About HOA Fees In Myrtle Beach Condos For Sale

Myrtle Beach Condos For SaleTo determine which among the many Myrtle Beach condos for sale is the right investment for you, you will have to learn more about Homeowners’ Association (HOA) fees. It is imperative that you understand how the HOA of the condo you are considering buying calculates and spends the HOA fees. This will help you determine whether or not the condo association is financially stable or not, which will affect the outcome of your investment.

What is included in the HOA fees?

Generally, the HOA fees are spent on the maintenance of the common areas in the condo building. These include the play or game rooms, entertainment rooms, recreation rooms, and landscaping. If you plan to purchase a condo from a gated community, expect higher HOA fees since it will also be used in paying for 24/7 guard service, guard shack facility maintenance – i.e. utilities, water, and AC – street maintenance, patrol car maintenance and electric gate maintenance and operations. In some gated communities, they also use HOA fees to fund reserves for patrol car maintenance.

If there are other maintenance fees that was not included in the HOA fees – such as emergency repairs or replacements – the condo association will conduct a special assessment. This is when all members of the condo association will calculate the additional expenses and decide or vote on a fee, which will be added on top of the current monthly HOA fees. This additional amount will be used to cover the emergency repairs and replacements as well as fund the association’s reserve budget for such unexpected expenses. Once the additional fee is finalized and settled, each owner in the building will be sent a bill detailing the additional fees and the amount they need to settle.

Why are HOA fees increasing?

HOA fees may increase in time depending on the current maintenance expenses it is being allocated for. If the condo association doesn’t have reserve fund for unexpected repairs and replacements, you can almost be sure that its HOA fees frequently increase.

On the other hand, if it does have a reserve fund, it can still increase in time especially if it has used the reserve funds for emergency repairs. They will need put money back in the reserve fund as well as increase the amount they put into the fund to cover emergency repairs.

What you should check when analyzing the HOA fees?

You’ll want to check if the condo association has reserve funds and how much money is left in the fund, if possible. This will guarantee you that the condo association is well equipped to overcome any unexpected weather disturbances or occurrences.

You also want to check how many of the individual condo unit owners are not paying their HOA. If a lot of the condo owners are not paying their association dues, it could mean that the association is not stable, which could mean it wouldn’t be a great investment for your hard-earned money.

Get a copy of the budget and bring it to your CPA or any legal professional that you trust to have a look and confirm your initial assessment. Ensuring you are making the right investment is necessary and critical before you actually make the purchase.

Want more information? Contact Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-839-9870
http://myrtlebeach-condosforsale.com

Providing you with professional advice and assistance in choosing which Myrtle Beach condos for sale to buy.

Tips for Hunting for Condos for Sale

Tips for Hunting for Condos for Sale

Buying Myrtle Beach Condos For SaleIf you are on the hunt to see condos for sale, you might not have much experience with this very specific market. This is especially true if you are accustomed to living in a house, rather than apartments or condos. How you choose a condo can have a significant impact on your lifestyle so it’s important that you choose the right one for you. Here are some useful tips to help you with that process:

Preparation before you look at condos for sale

Often, people will turn to the ads page first. This is not a good plan and will usually not yield the results you want. It’s important that you have all the information you need and ads alone will not provide it. The first thing you should do is hire a realtor who is experienced in the condo market. Contrary to popular belief, a realtor will not cost you money. Rather, the seller pays the percentage owed to the realtor. A realtor has advice on what to look for, and can save you a lot of headaches that could come after the fact.

It can also be helpful to hire a real estate lawyer before you sign any contracts or mortgage agreements. A lawyer can help make sure you understand all the legal requirements that come with purchasing a condo so you are not hit with any surprises. Sitting down with a lawyer and a real estate agent to really crunch your numbers will help you to know whether or not you are truly prepared financially to take on the responsibility of ownership. Make sure you only look at condos for sale that you can afford.

Tips on what to avoid

  • The little things you might not think about can really make a difference. Here are a few things to avoid:
  • Units that are situated near a high-traffic zone. You won’t want that noise near your living space!
  • Units near elevators. Again, this would be a noisy location you might not like.
  • Condos that overlook unpleasant sights, such as trash pickup areas or parking lots.
  • It would be wise to choose condos for sale where the majority of your neighbors are owners, rather than renters. Owners generally are more quiet, settled people who will take more care and pride in their area.
  • Avoid communities or areas of town that aren’t appealing to you. Even if you like the building itself, if you don’t love the area around it, you will regret it.
  • Don’t make any final decisions until you’ve been in the unit several times, and really looked at all the nooks and crannies.
  • Don’t make a purchase until you’ve spoken with some of the neighbors you will have. They can give you invaluable advice about living there, and their experience could very well make or break your deal.
  • Be sure to FULLY understand all the fees you will incur, such as condo association dues, maintenance fees, and closing costs.
  • Never buy a condo unit you don’t love, or one with a view you don’t love. This is a major purchase and the last thing you want is buyer’s remorse!

For more information on hunting for condos for sale, call Jerry Pinkas today! You will get expert advice on all the aspects of looking for the right condo for your needs.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-839-9870
http://myrtlebeach-condosforsale.com