Choosing Between Myrtle Beach Condos For Sale And A House

Choosing Between Myrtle Beach Condos For Sale And A House

Myrtle Beach Condos For SaleHome buyers often choose between Myrtle Beach condos for sale and a single family house for their first real estate investment. Both types of real estate properties have their own advantages and disadvantages. And both prove to be cost-worthy whether you are buying for the purpose of an investment or for your personal use.

This is why choosing between the two can be difficult as both are suitable to whatever lifestyle you want. However, there will be a fine line that will define each property and separate them depending on your needs.

To efficiently define that distinction, you will need to closely look at some key factors.

Location

Often, this is the deciding factor for many homebuyers, especially for those who intend to use the property and actually live in it. These homebuyers will often be looking for properties near their places of work and places they often visit. Or they might consider buying from an area where transportation is highly accessible allowing them to visit the places they frequently visit if they can’t find a condo or a single-family home that is near these places.

For families looking to start a new life, they would most likely be buying a property that is located near their kids’ schools, malls, parks, beach, amusement centers, and other areas suitable for the entire family.

For young professionals, they will probably buy a property that is near their places of work, restaurants, shops and possibly a train station to allow them to go other places as required by their line of work. Transportation is extremely important for these individuals, as they are often on the go.

Maintenance

Whether you are a young professional or a small family, if this is your first time to own a home, you may not be too confident with your maintenance skills. Plus, if you have kids, you may find it difficult to keep the entire property in proper order while taking care and looking after the kids.

In this case, you may want to consider looking at Myrtle Beach condos for sale instead. There are many condos available in the market today that are specifically developed to cater to the needs of small families. These are efficiently located in areas near schools and entertainment centers. And they’ve got convenient maintenance assistance that would truly be suitable for small families and young professionals alike.

Homeowner’s Association rules and regulations

Whether you’re purchasing a condo unit or a single-family home, there are bound to be rules and regulations imposed by the governing Homeowner’s Association. Before you go and sign that contract, make sure that you can abide by these rules and regulations. Keep in mind that there are quite a lot more rules in a condo building association as compared to single-family homes. Also, the rules governing condo unit owners are more limiting and restricting than single-family homes, especially if you choose to buy in a multifamily townhouse.

Looking for high quality Myrtle Beach condos for sale? Call Jerry Pinkas Real Estate Experts for professional assistance.

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

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

Restrictions When Buying Myrtle Beach Condos For Sale

Restrictions When Buying Myrtle Beach Condos For Sale

Myrtle Beach Condos For SaleOne of the most important aspects to consider before buying Myrtle Beach condos for sale is the owner restrictions and limitations. You can learn more about these by reading the Covenants, Conditions, and Restrictions available from the Home Owner’s Association of the condo building you are considering buying from. Knowing about this will help you decide whether the condo unit is a good fit for your lifestyle.

Condominium living is considered as a lifestyle choice. This is why it is important that you ensure that the condo you will be living in is suitable to your choice of lifestyle. And to help you decide, you will need to understand and look at the obligations and restrictions owners have on the condo building you are considering.

Looking at the Covenants, Conditions, and Restrictions of Myrtle Beach condos for sale

These legal documents may be called in some other names for different condo building associations and homeowner’s association. They may be referred to as bylaws, house rules, or master deeds. Basically, these documents the rules and regulations governed by the homeowner’s association. These are the guide book of the association and dictate how they would operate and what rules condo unit owners, tenants and guests must follow. The rules in these documents can only be enforced by the condo building’s homeowner’s association unless stated otherwise.

Here is a list of some of the rules and regulations that you will often find in CCR’s or bylaws.

1. Unit leasing – Some homeowner’s association allows unit owners to lease their unit but with some specific restrictions. Others do not allow leasing.

2. Bringing of pets inside the building or unit – Some allow pets inside the building and the unit but with restrictions on weight. Others do not allow pets inside the building or unit.

3. Age restrictions – This is often found in retirement communities or if there are more elderly living in the same condo building.

4. Overnight stays – Some condo building associations do not allow their owners to invite others to stay the night in their condo building. This is most especially true in retirement communities where they do not allow kids under the age of 16 spend the night.

5. Driveway maintenance – Condo unit owners are responsible for taking their trash out in time for the collection. They need to observe the right time when they should take their trash out and also to remember to bring their trash can back in and not to leave it on their driveway. Other homeowner’s association also requires condo owners to regularly wash their driveways.

6. Parking – In some condo buildings, one parking space is already provided for each condo unit owner. Condo owners are sometimes assigned more than one parking space if there is more than one car, but cannot use other owners’ spaces.

Keep in mind that these rules and regulations cannot be changed. You need to look at them and study them before choosing which Myrtle Beach condos for sale you want to buy. Also, this will prevent any misunderstanding with the condo building association and ensure that you will not be subjected to any fines.

Learn more tips in buying Myrtle Beach condos for sale by contacting 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 choose which Myrtle Beach condos for sale suit your needs.

Buying And Owning Waterway Condos For Sale

Buying And Owning Waterway Condos For Sale

Waterway condos for saleBefore you start looking for waterway condos for sale to invest your money in, one of the first things you will need to know is the specific type of condo ownership that you want to get into. This is especially true if you are planning on a long term condo investment that earns profit.

You should know that there are three types of condo ownership. Unlike buying a single family home where in you can choose to buy both land and the property or the land only, there are other factors involved in determining condo ownership. These ownership types generally depend on the condo building association as well on your purposes in buying waterway condos for sale.

The three types of condo ownership

1. Undivided interest on the entire property
This is the most common type of condo ownership where the buyer pays for an undivided interest on the entire property along with the right to own and occupy a unit in the said property as well as the right to use common areas in the same property. These common areas, as defined by the condo building association, may include swimming pool, parking area, recreation room, dance hall, gym, basketball court and other sports related play area, rooftop and dock.

2. Planned Unit Development or PUD
This type of ownership gives the owner the land on which the waterway condos for sale are built, the condo unit, and the streets as well. This is more common in low-rise condo building and single-family home residences. Keep in mind that if you choose a planned unit development type of ownership, you will be the one to maintain the entire land, the condo unit as well as the streets where your condo unit is situated. However, you can set up an agreement with the homeowners’ association so that they will be responsible for the maintenance of streets.

3. Co-op
A co-op ownership is one where you buy a condo unit from a stock cooperative. The condo building where you want to buy a unit from is owned and managed by a stock cooperative which runs differently than condo building associations and homeowners’ associations. The primary difference, however, is that you are actually buying stocks in the building unlike with the other types of ownership where you buy a portion in the deed of the entire property. So instead of a deed certificate, you will receive a stock certificate. And when the condo building earns profit by the end of the year, you’ll have your share of profits depending on the stocks you bought.

It is important that you know what type of ownership you prefer at the beginning of your condo investing venture to ensure that you are in the right path. Knowing this will guide you on what direction to take and decisions to make.

Need help looking for quality waterway condos for sale? Jerry Pinkas Real Estate Experts can help you! Call them 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 waterway condos for sale and all the information you need for your condo investing venture.

Asking The Right Questions When Checking Out Condos For Sale

Asking The Right Questions When Checking Out Condos For Sale

Condos For SaleThe first thing you need to do after deciding you want to invest in a condo unit is to look for condos for sale that would fit your budget and needs. This is not only to ensure that you buy the right condo unit for you but also to ensure a smooth and flawless buying process.

It is extremely important that you carefully investigate each condo unit that you are considering buying. Look at all the benefits and potential problems that you might encounter throughout the buying process as well as when you finally move into the unit.

Here are some questions that you could ask yourself to help you in considering and choosing which among the many condos for sale you really want to buy.

1. Do any of the rules and regulations conflict with my lifestyle?
Every condominium building has their own set of rules and regulations. Make sure you ask for a copy of their rules so you can review them. The rules are written in legal documents that may be called bylaws, master deed, or house rules. You might also want to review the corresponding fines or reprimands for every broken rule. Some condo associations require fines to be paid when a rule is broken.

2. How is the homeowner’s association fees utilized?
Aside from your monthly installation payment on the condo building, you are also required to pay homeowner’s association fees every night. The amount you pay may vary per year per condo building association. The condo building association determines the amount of monthly fees charged to every condo unit owner depending on various factors. Find out how it is calculated and what it is spent on. Usually, this is what the condo building association uses to pay for continued maintenance of the building as well as for emergency repairs.

3. Who do you call for emergency repairs?
Part of the services of condo building association is to provide you with repair services anytime you need it. This is also where part of the monthly homeowner’s association fees is allocated on. When looking at condos for sale, inquire about how the condo building association goes about repair problems and other issues a tenant might have. Keep in mind, however, that not all condo building associations hold responsibility for paying for the repairs made to a condo unit. But they should be responsible for paying for the necessary repairs to common areas of the building.

4. What types of insurance policies that the condo building provides?
This will help guide you plan and pick out what other insurance you need to get for your condo unit should you pursue with the buying process. This is most especially true if you plan to buy from a high-risk area where hurricanes and flooding is common.

Learn more about condos for sale the condo buying process by contacting 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 condos for sale.

First Time Buyer Guide On Condos For Sale

First Time Buyer Guide On Condos For Sale

Condos For SaleThere are many condos for sale currently available on the market that you can check out if you are considering buying a condo. On the other hand, if this is your first time to buy a condominium unit, you need to look at all the aspects to ensure you are making the right choice.

In buying condos, keep in mind that the process is considerably different from buying homes. This is why it is highly recommended that first time condo buyers spend a considerable amount of time reading up on condos and the process of buying condos. Otherwise, disasters are bound to hinder your path to a smooth sailing condo buying process.

Here is a basic guide to help prepare you in looking for condos for sale.

  • Make an appointment to visit the condo unit, possibly during the evening when you neighbors will most likely be home. This will give you an opportunity to get a feel for how the unit is at night. More specifically, you will be able to determine how noisy or quiet it can get during this time.
  • Talk with your potential neighbors-to-be if they want to. This will give you an opportunity to get to know them early on as well as find out if there are issues that you failed to identify in your visits.
  • If you want to be the first owner of the condo unit, look at condos for sale that are still being built. And while it’s undergoing construction, inquire about soundproofing. The contractor will be able to provide you with a professional advice on how to minimize noise coming from the outside toward inside your home.
  • Think about how much the nearby swimming pool is used. For this, you might want to visit the unit during the day aside from only in the evening. You will see for yourself how many people and kids use the pool and, also, how much noise can reach you inside the unit.
  • Bring all the necessary documents – terms, conditions, rules, regulations, and other legal and financial documents – to your lawyer. It is important that a licensed professional review all the documents that you will be working with for the buying process. Although these might seem generic, there are bound to be problems hiding in between the lines and paragraphs that only a legal professional could see.
  • When reviewing the documents, find out what is and isn’t covered in the condo unit insurance. Have your lawyer confirm your findings. Most condos for sale offer insurance for the entire building and some parts of the unit itself. You need to confirm this so you’ll know whether you will have to get additional insurance or not.

Work with a licensed real estate professional to help you check out condos for sale and find the most suitable unit for you. 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 information on all the condos for sale available to suit your needs.

How To Buy Waterway Condos For Sale Like A Pro

How To Buy Waterway Condos For Sale Like A Pro

Waterway Condos For SaleThere are lots of things to consider about waterway condos for sale. If this is your first time to buy, you should know that you’ll be looking at different living spaces, maintenance requirements, amenities, and security as compared to the average single-family home. A condo unit and a single-family home are different in lots of ways. It is important that you spend time looking at each of these differences to ensure your buying process flows smoothly and flawlessly.

Here are some of the top considerations you have to make when buying waterway condos for sale.

1. Taxes
There’s little contrast between the property assessments surveyed to a condominium townhouse or a solitary family home. For assessment purposes, townhouses are seen as partitioned units, despite the fact that most of them are in the same building. The property value and rates are evaluated similarly as with the average real estate property. Charges paid to either condominium or property holders’ affiliations are not tax deductible. With both sorts of lodging, home loan investment and property assessments might be deducted.

2. Funds
If you are a first time buyer and don’t have enough funds for your condo purchase, you can consider seeking FHA financing. The Federal Housing Administration (FHA) allows a first time home buyer to purchase real estate while paying only a small portion of the required down payment. Keep in mind that the FHA requirements for buying a single home are different from buying waterway condos for sale.

3. Protection, security, insurance
In terms of real estate insurance, owners of condo units are considered more privileged. This is primarily because of the fact that they only need to get insurance for what’s inside their unit, for example, the furniture, the kitchen and shower apparatuses, and the deck. The exterior part of their units including the basic zones, structure, and the outer surface are all secured by the condominium affiliation’s building insurance policy. Single-family homeowners, on the other hand, are required to insure the entire property, including land and structure.

4. Owners’ associations.
There are not many differences between a homeowners’ association and a condo association. Both are under the ruling guidance of the developer and consist of a board of directors made up of the owners of the single family homes in the neighborhood and the condo units in the condo building. As a condo owner, you are required to join the condo association.

Need help finding waterway 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

Helping you find the best waterway condos for sale.

Should I Go Ahead With Oceanfront Condos For Sale?

Should I Go Ahead With Oceanfront Condos For Sale?

Oceanfront Condos For SaleIf you are considering buying a new home, you are probably looking at oceanfront condos for sale. The best part of living in oceanfront condos are the different ways you can profit from this investment aside from living near the beach. In fact, you can rent the unit out during summer or the peak season. Alternatively, you can use it as a vacation house and rent it out throughout the rest of the year.

On the other hand, condos are not for everyone. And like many other types of investments, it involves a serious financial commitment. Hence, it is highly recommended that you obtain sufficient information about the condo units and associations before signing any contract and paying any amount of money.

Here are some of the things you may want to learn about oceanfront condos for sale:

  • Condominiums are more than a single unit within a larger building. Condominium is a form of real estate ownership; thus, it is not limited to condominium buildings. They can also be apartment buildings and townhomes.
  • Condominiums are ruled by a condo corporation or association that is made up of the unit owners. Unit owners elect who will be in the condo building’s board of directors.
  • When buying oceanfront condos, you are not only buying the actual unit you paid for. You also bought a share in the ownership of the common features in the building such as hallways, fitness facilities, grounds, ballrooms, elevators and others.
  • As the owner, you are required to pay additional fees aside from the monthly fee that you agreed with before signing the contract. These fees will cover unexpected repairs cause by natural disasters or accidents.

Questions to ask yourself to determine if you should buy oceanfront condos for sale

If you are still unsure whether or not oceanfront condos are where you should invest in, the following questions might help you get a clear understanding of your personal goals.

1. Do I have sufficient finances?

Aside from the monthly fees, you are also required to pay for the unanticipated repairs and damages to the building particularly the common elements. Additionally, you also have to be prepared for changes in interest rates and fees. These may increase or decrease depending on current market conditions.

2. Am I ready for my responsibilities as a condo owner?

The responsibilities of a condo owner are different from that of a homeowner. You need to spend time to learn your responsibilities. Make sure you understand them and will be able to commit to them.

3. What amenities do I need and don’t need?

When assessing which condo unit to buy, among the many convincing factors you will have to consider are the amenities included in the condo building as well as those available near the building.

At Jerry Pinkas Real Estate Experts, you can find real estate agents who specialize in oceanfront condos for sale. These professionals are more than able to help you decide which condo to buy. Call them 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

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What You Should Be Aware Of Before Condo Investing

What You Should Be Aware Of Before Condo Investing

Condo InvestingAccording to many investors, one of the best things about condo investing is you never have to worry about continuous repairs after purchasing. This is primarily because of the association that maintains the building including the unoccupied units. The association has funding allotted for the continuous maintenance of the building and for emergency repairs as well.

Despite not having to worry about subsequent repairs after purchasing a condo unit, there are still things that you need to consider before you actually buy a unit. And if you’re looking to have a successful investment, it is imperative that you spend time studying other aspects of your investment.

Other aspects to consider before condo investing

1. Your primary purpose of buying a condo as an investment.
How successful your investment will become greatly depends on your primary purpose for making the purchase. If you want to rent it out or live in it independently as well as how long you plan to stay in the condo unit will help you decide whether or it is really a good form of investment.

2. Homeowners’ association dues are paid on top of your monthly condo unit payments.
The benefits you get from the homeowner’s association are indeed appealing and are often enough for some investors to sign the contract and buy a unit. On the other hand, you need to look at how much association dues you will be required to pay and add that to your monthly payments to have a general idea of how much money you pay for your condo investment every month. This way, you’ll be able to determine whether or not it is indeed a good and financially beneficial investment.

3. Homeowners’ association rules have restrictions and limitations.
The association operating and overseeing the entire condo building will likely have rules, limitations, and restrictions that you need to be aware of. You need to learn and study these rules before you make a purchase decision. This will help you avoid any misunderstanding that could happen between you and your landlord.

4. Advertising can become expensive easily.
If you don’t do your homework and conduct a thorough research about advertising in condo investing, you will surely end up spending more money than what you have planned for. There are lots of contractors and service providers who will offer their services to you. Spend time looking through their offers and confirming their legitimacy. If possible, work with someone recommended by your friends, relatives, and colleagues so you can be sure in hiring them and that you’ll get the service you are expecting.

Contact Jerry Pinkas Real Estate Experts for more information on condo investing.

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

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Condo Investing Guide For First Time Investors

Condo Investing Guide For First Time Investors

Condo InvestingIndividuals who are looking for alternative ways to invest without homeowner responsibilities such as maintenance and renovation would truly benefit from condo investing. Buying a condo unit and renting it out is a lot different from buying and renting a single-family home.

If you feel that this is the type of investment that would suit your needs and demands, here are the top three things you need to carefully look at for your first condo investing venture.

Overall condo unit inspection

Much like buying a home, you will need to conduct a thorough inspection of the condo unit before you decide that you really want to purchase it. Although you can do the inspection on your own, it’s best that you hire a professional inspector to ensure that every area and corner of the unit is inspected. Plus, a professional inspector knows the signs of damage and wear and tear that may not be easily obvious to you. Listing all the areas and things that need repair may help you get a better deal from the seller. You can use it to propose a discount on the total purchase price or demand the seller to do the necessary repairs before you pay the full purchase amount.

All financial statements

To ensure that you are taking the right route with condo investing, you need to carefully study the financial statements of the unit you are considering buying. Basically, you’ll need to look at the expenses that you will be paying for at the beginning of your investment – which includes buying the condo and any other renovation or upgrades that it needs – and throughout your investment, which includes ongoing maintenance costs and monthly association fees.

You may also want to look into the condo association’s reserve funds and find out whether or not there is enough to cover any unscheduled or emergency repairs. If not, you will have to pay for these from your own pocket, which may negatively affect your profits.

When studying monthly association fees, make sure you consider the unit’s percentage interest and calculate whether or not you’d still make profit if you plan to rent the unit. If possible, work with a certified accountant to be sure that you won’t miss any important financial detail.

Legal documents

What you need to specifically review in the condo unit’s legal documents are the exact dimensions of the condo unit that you will be purchasing, the building features and amenities that you are entitled to exclusively use (i.e. balcony, parking space, etc.) as well as those that you can use along with other condo building owners (i.e. gym, spa, entertainment room, conference areas, etc.)

To find out more about condo investing, 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 ensure a profitable condo investing.

Choosing The Right Neighborhood For Your Condo Investing

Choosing The Right Neighborhood For Your Condo Investing

Condo InvestingIn condo investing, there are other things you need to consider aside from the specific unit that you need to buy. You also have to carefully think about the neighborhood where you will be buying. This is most especially true if you plan to rent out the condo unit. Keep in mind that location is one of the primary motivating factors for most renters.

In addition to attracting lots of potential renters, buying from the right neighborhood will also help make your condo investing journey smooth and flawless. Listed below are some of the factors of the right neighborhood to invest in.

  • Distance from place of work

Consider whether or not the neighborhood you are planning to buy from is near or far from most businesses and schools, if you’re looking to rent to families with children. You are likely to get more offers if you buy from a neighborhood that is near to most places of work. Don’t forget to consider traffic times when calculating distance. There are places where there is heavy traffic so going to work takes more than hour instead of 15 minutes if there is no traffic.

  • Access to transportation

Not all renters have a car of their own. So you also need to make sure that you start your condo investing in a neighborhood that has easy access to all types of transportation. Make sure that there is a direct route to the common places of work so your tenants won’t have to make a lot of transfers, which makes them more tired and causes them to be late for work.

  • Availability of necessities

These include the other areas that you frequently visit aside from your office and school such as the grocery store, mall, bank, pharmacy, hospital, laundry service provider, gym, and many others. If you buy from a neighborhood that is near to all of these services, your renters will have no problem finding their way in the neighborhood. Plus, they wouldn’t have to spend time and money on driving or commuting around town to find the establishment that they need.

  • Options for entertainment

It is also worth it to consider if the neighborhood has a wide range of options for entertainment like night clubs and restaurants. If you plan to target young professionals or college students, this is definitely worth considering. Keep in mind that if your goal is to rent the condo unit, you need to make sure your prospective tenants have everything they need to live a satisfying life in your condo unit.

Location is important not only in condo investing but also in other types of real estate investing as well. Contact Jerry Pinkas Real Estate Experts now to get professional assistance in finding the best location for your condo investment.

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

Your condo investing needs come first.