Congrats…..you’ve decided to move to Myrtle Beach! It is a great community to call home. The Myrtle Beach real estate market is unique in many ways, and there are important terminologies you need to familiarize yourself with while you navigate through your home search. Most neighborhoods, especially the newer developments, in the Myrtle Beach area have Home Owner Associations (HOA). HOA neighborhoods are a sort of community within the city. It is a distinct legal entity that have various rules and regulations that must be followed by home owners within it. In addition, there are several amenities provided for the neighborhood, such as community pools, fitness centers, neighborhood entryways, etc. Home owners must pay HOA fees that help cover administrative costs and maintenance of community areas. These fees are paid on an annual, semi-annual, quarterly, or monthly basis depending on the individual HOA. There are many benefits to living in an HOA but there are reasons why some home owners prefer neighborhoods without them. Living in a non-HOA neighborhood means that you have no restrictions on what you do with your home. Additionally, HOA fees are an additional expense along with your mortgage payments.
While the majority of the Myrtle Beach area has neighborhoods with Home Owner Associations, there are areas that do not! The older area of downtown Myrtle Beach and the rural areas around the communities of Conway, Longs, and Loris have homes with no HOA fees!
What is the best way to find out if the house or neighborhood you are looking at has HOA fees? Work with the Myrtle Beach Real Estate Experts! We are here to find your dream home in the Myrtle Beach area. We can help you narrow your search based on HOA fees. Please contact us today to let us assist you with your search or visit our website at www.homeguidemyrtlebeach.com.