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Do you need a termite inspection on a condo

Have you or someone you know ever had to deal with termites at your/their home or condo? If you have, then you understand not only how costly it can be, but also how it can turn your life completely upside down for a good amount of time. Termites attack thousands of homes and buildings each year in the United States, and homeowners fork out millions of dollars annually to repair the damage they cause and treat the termite problem itself. And if you think that just because your condo is on the ninth floor of a concrete building that you are exempt from this potential issue, you are sadly mistaken. And as you may have guessed, that is exactly what we are going to be discussing in today’s blog post!

Termite Inspections in Myrtle Beach

What are termites and how can you identify them?

Before we get into the meat and potatoes of today’s post, we wanted to give a brief overview of what termites are and how you can possibly detect them. Termites are often referred to as the “silent destroyer” as they do not come out into the open which makes them very difficult to detect at times. In some cases, termites can be secretly thriving and hiding in your home, condo or yard and do not show any immediate signs of the damage that is being done. If you are looking for information on how you can detect these pesky creatures, termites usually have straight, beaded antennae, their wings are equal size, they have uniformed waists and measure approximately 1 cm to a few millimeters in length.

Primarily, termites feed on cellulose (which is a part of wood), but they are also known to damage books, insulation, paper and even filtration system and swimming pool liners. Additionally, while there are different types of termites, they all feed on detritus which include dead trees and plants, as well as dead parts of living trees including wood. And unfortunately, regardless of their construction type, all homes have the ability to provide cellulose food which in turn harbors termite infestation. So while you may think this issue may never present itself in your living space, all house foundations, shelves, furniture and even books can draw in termites and provide a cozy place for them to stay and live. Now, this information is not meant to scare you, but rather provide you with the knowledge and tools to be aware and alert to catch it fast if you see any signs of termites in your home or condo. 

Who is responsible for termite repairs when in a condo association

What types of termite’s attack condos?

We may be giving you more information than you originally thought you were looking for, but we figured we would educate you on everything related to termite and condos so you can better understand how everything is related. Subterranean and drywood termites are the two specific types of termites that frequently attack condos. Subterranean termites are known to attack buildings from underground by entering through cracks in concrete slabs or from flowerbeds through tunneling under siding that is close to the soil. On the other hand, while drywood termites do not live in the soil, they tend to attack condo buildings in the spring and summer during their mating flights. They also tend to land on the wooden trim around windows and doors and make their nests in small cracks in wood to start new colonies.

Home inspection for new construction condo

Can termite’s travel from one unit to another in a condo building?

Now don’t freak out, but the answer is yes. It is no secret the damage termites can do to a single-family home, but when it comes to condos, termites can be downright destructive and can easily travel from one condo unit to the next. Of the two, subterranean termites are the worst because they often enter the building through expansion joints between two slabs, allowing them to easily and swift fully inhabit two or more units at the same time. On the same note, if these subterranean termites were to invade one unit, they can enter the neighboring unit by traveling through the common wall. Due to the fact that these types of termites are able to stay hidden, they tend to cause damage to multiple condo units before they are even discovered or detected by the residents.

At the same time, drywood termites are also able to move freely between condo units. You will see this especially if they have inhabited exterior wooden trim, a wooden fence, or a carport, as drywood termites then gain access to the several units that these areas are attached to. Now you may be asking yourself what happens if a unit in a condo building is affected by termites. And, as you can probably tell by now when termites invade condo buildings the exterminating process can prove to be extremely challenging. This is especially true if there are several units in the same building that have termites.

New construction condo inspection checklist

Why do I have to pay for a termite inspection, even if my condo is located on the 9th floor of a concert building?

Hopefully, by now we have equipped you enough information for you to understand why you need a termite inspection, even if your condo is located in the upper levels of your condo building. It is always better to be safe than sorry, and just because your building is made from concrete does not dismiss it from the potential of a termite infestation. And as we spoke about earlier, even if the unit does not outwardly show any termite damage, you never know what is going on within the walls and unseen areas of the condo unit. The termites may have spread to your unit from a neighboring unit and you want to bring in a professional so they can assess the situation. Additionally, some pest inspectors will also look for leaks, beetles, mold and water damage within the unit when they come out for the termite inspection. This is a huge bonus as it will give you a better overall picture of the status of the unit, and allow you to fix any potential issue before it gets worse down the line.

How to treat termites

What should I do if I am looking to buy/sell a condo in Myrtle Beach, SC?

If you or someone you know is looking to buy or sell a condo in sunny Myrtle Beach, SC, be sure to give our experienced team here at Jerry Pinkas Real Estate Experts a call today! We have seamlessly helped numerous individuals, couples, families, and retirees through the buying and selling process and we know we can do the same for you. Our real estate team is different from most in our area because we have a separate set of realtors that are solely dedicated to helping and serving our buyer clients and a separate set of realtors that are solely dedicated to helping and serving our seller clients. So you can trust that your Jerry Pinkas real estate agent will not be educated and well versed in the buying or selling process, but also that they will work hard in your best interests. We know you have your choice of realtors in the Myrtle Beach, SC area, but why have average when you can have the best? Allow our dedicated team of agents to serve you today. We look forward to hearing from you and working with you soon!

 

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Buying a condo in Myrtle Beach is it a good investment 2017

It may come as no surprise that we get a lot of questions here at Jerry Pinkas Realty surrounding condos and investments, as there are a lot of buyers that are interested in breaking into the investment property market here in sunny Myrtle Beach, SC. The question we get asked quite frequently is ‘If I'm buying a condo on the beach, is it better to buy a one bedroom, two bedroom, or three bedroom in Myrtle Beach?’ We have clients that want direction on which one will be the best investment and which one will give them the most return. And while it’s a tricky question, as there are a lot of factors that play into the decision, we are here to answer it in today’s blog post and hopefully will provide you with some helpful insight as you start your search.

Buying a condo in Myrtle Beach SC

Should I only look at condos that appeal to my personal taste?

While you may expect us to say yes to this criteria, the answer is actually no.

A lot of time people want a 2 or 3 bedroom condo on the beach because it may fit their specific needs and may be the way they would like to live themselves. Many times we see people that are drawn to purchasing a condo based on what they personally like and not thinking too much about the rental potential, which is actually backwards! Buyers should be thinking about what gives them the best return on their investment, not checking off the criteria of what they personally like upfront. Because when you break it down, you're going to be spending very little time in the unit anyway. You always want to look for a place that is going to give you the maximum amount of dollars back in your pocket. 

What factors should I consider when starting my search for an investment condo in Myrtle Beach, SC?

There are a few factors that we want you to keep in mind when starting your search for a condo in Myrtle Beach, SC that will aid in the unit ending up to be a good investment. A few of these factors include the purchase price of the unit, the potential HOA fees, the prime rental season and the total expenses of the unit. When it comes to HOA fees (Homeowners Association fees), it is important to not shy away from the unit because of these fees and to fully understand what is included in the cost each month. As we have discussed in a previous post, HOA fees have the potential to cover things such as insurance, cable, internet, maintenance and upkeep of common areas. Especially if you are using the unit as a rental, having all these items (and more) covered for one fee each month can help ensure that the unit and building are being kept up and allows you one less thing to worry about when it comes to renting each month. 

It is also important to keep in mind that not every complex or area of the beach will give the same return. Just because the building may be overlooking the glistening waters of beautiful Myrtle Beach, it does not guarantee that all the units in the building are equal. You can have a unit that is in a prime location, but can be extremely outdated which will make it difficult for you to find interested renters. By the time you put in the necessary funding behind getting the condo updated, you may be in over your head with the investment and end up loosing money on the unit. Once you have had the unit rented for some time, it is also important to consider your rental history year over year and adjust accordingly if you are not satisfied with the outcome of the income you are bringing in.

Best investment property in Myrtle Beach

So when prioritizing what you should be looking at in a unit that will give you the best return on your investment, it is the one that has the potential to give you the highest rental price. The next thing you should be looking at is what the homeowner’s association includes, and then, finally, if you personally like it yourself. If the steps are followed in this order, we are confident that you will find a good investment condo in Myrtle Beach, SC. Sometimes you will find that the one bedroom, when you put pencil to a paper, will come out to be the better investment, and other times it’s the two or three bedroom. And what exactly is the best way to figure out what is the best situation for you? Well that is where we come in to help you!

Buying a vacation home in Myrtle Beach

What season will I most likely see the most rental income from my condo?

This is a great question, and one we see frequently, as not all seasons in Myrtle Beach, SC are created equal when it comes to rental income. So here’s the deal: as we all know, there are only 52 weeks in a year and, therefore, you are limited to on how much rental income you can acquire during one calendar year. And if you have ever visited Myrtle Beach, SC in the summer, you are sure to understand the draw to the area during that time. The beaches are buzzing with locals and vacationers alike eager to soak up the warm South Carolina rays, the boardwalk is alive and action packed, and the delicious restaurants and overflowing with hungry patrons.

Summer is definitely the high season when it comes to rental income flowing into the bank, which is good because you may find yourself tapping into that bank in the winter to pay for the condo. Now don’t get us wrong, there is still plenty to do in Myrtle Beach, SC in the winter and the area does draw in renters. But if you are trying to plan on which season will allow you to charge the most and will bring you the most income, summer is your main gal.

And on a side note, if you are looking for tenants for a year long lease, we would recommend you starting the lease in the summertime. One reason this could work to your benefit is because the amount of available units will most likely go down during that time due to an influx of visitors to the area, therefore creating a higher demand. You are then able to turn around and charge a little more per month which will guarantee you that income each month for the entire year. On the flip side, if after the year lease is up your renter decides to not renew the lease, you will find yourself smack dab in the middle of the busy season again allowing the demand of condos to fuel your search for a new renter. It ends up being a bit of a win-win in our opinion!  

Is a beach condo a good investment

What should I do if I am interested in learning more or purchasing a condo in Myrtle Beach, SC?

We know you have questions about purchasing a condo in Myrtle Beach, SC, and we have the answers! Everything from price, location and layout can be topics of concern and uneasiness for potential buyers. We have helped numerous individuals, couples and families find the perfect condo and we can do the same for you. Allow our team of experts to understand your situation, go over your options and settle on what will be the best condo for your specific criteria. Why have average when you can work with experts? Give us a call today! 

 

You have questions, we have answers. Give us a call at 843-839-9870

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