Pros & Cons of Buying a Myrtle Beach Condo vs a Home

In the Myrtle Beach area home shoppers can choose between traditional homes, a Myrtle Beach Condo or townhome.  With the exception of the location, the type of living quarters is the most important decision when buying.  When you purchase a home you are buying the house and the land it sits on. In contrast with a condo you are only buying the living space inside the condo and a portion of what is referred to as the common areas.  Along with the advantages and disadvantages to both types of housing, the cost and your lifestyle are often the determining factors as to which type of dwelling best suites you.

Advantage of a Myrtle Beach Condo Living

Myrtle Beach Condo LivingYounger buyers as well as those nearing retirement are deciding on condos over houses due to their location.  In Myrtle Beach you have oceanfront condos or ones that are very near the beach that are very affordable.  Condos are located in areas that are near restaurants, shops and local places of interest.  Many condos have amenities such as pools, fitness centers and community facilities.  People who live busy lives or want a retreat from the responsibilities of home ownership are attracted to the Myrtle Beach condo lifestyle.  Home owner association fees cover the expensive maintenance of the common areas, the exterior of the building and grounds.

 Disadvantages of Myrtle Beach Condo Living

 One drawback to a condo lifestyle can be the association fees which are in addition to your monthly mortgage payment.  These fees are used toward amenities and building maintenance.  Depending on the location of the Myrtle Beach condo and the number of units, these fees can be expensive and will increase if there is extensive maintenance that needs to be done. In the Myrtle Beach are many homes also have home owners dues and this needs to be taken into consideration when budgeting your purchase.

With a condo you will also need to share the decision making with regards to the actual building itself.  Some people will find this comforting others don’t like the restrictions and rules associated with condo living.  Make sure you fully understand all of the bylaws in the home owner’s agreement.

Myrtle Beach HomeDisadvantages of a Myrtle Beach Home

As a homeowner you are responsible for all maintenance both inside and outside of your home including lawn care.  If you are a new home owner you will need to take into consideration all of the extra equipment and tools that you will need to maintain your home.  Although improvements will increase the value of your home, you need to take future improvements into consideration when budgeting the purchase of a home.

Advantages of home ownership

The biggest advantage of buying a home is the control you have over your property.  This includes the ability to remodel or make changes without having to consult with others.  In most instances, owning a home is more spacious both inside and outside the home which makes it a better choice for large families with children and pets.  Houses usually have more closet space and storage in attics or exterior storage buildings.

Whether you are considering buying a Myrtle Beach condo or home you need to consult with a real estate agent that knows the area and can help you analyze your options.  Call the team at JP Real Estate Experts who have the experience to help you make the best decision for you and your family.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave Myrtle Beach, SC 29577‎
(843) 839-9870