HOA Fees North Myrtle Beach Condo Buyers Should Know

Staring at a condo listing in North Myrtle Beach and wondering why the HOA fee looks higher than inland properties? You are not alone. Between coastal wear, storm exposure, and resort-style amenities, those monthly dues do a lot of heavy lifting. In this guide, you will learn what HOA fees typically cover, why they vary so much along the Grand Strand, how to read an association budget, and the key questions to ask before you buy. Let’s dive in.

What HOA fees cover

HOA fees fund the shared services and long-term care of the building and grounds. In most North Myrtle Beach condominiums, the HOA maintains the structure and common areas, while you insure your interiors with an HO‑6 policy.

Core line items you will see

• Insurance on the building and common areas, including wind or hail coverage and deductibles.
• Reserve contributions for future big-ticket repairs like roofs, elevators, siding, and parking decks.
• Management and administration, including accounting, legal, and onsite or third-party management.
• Utilities for common areas and sometimes for units, such as water, sewer, trash, corridor lighting, and elevator power.
• Maintenance and repairs for exteriors, pools, mechanical systems, and pest control.
• Amenities and services, such as pool care, fitness rooms, security, concierge, and bulk cable or Internet.
• Landscaping and exterior grounds, including dune care, erosion mitigation, and storm cleanup.

Coastal factors that raise costs

• Salt air speeds up corrosion, which means more frequent painting, metal replacement, and HVAC work.
• Storm and flood risk increases insurance premiums and deductibles, especially for wind or named storms.
• Beach access features like boardwalks and seawalls require ongoing upkeep.
• Elevators and pool systems often see heavy seasonal use and faster wear.

Typical ranges and one clear example

Fees vary widely by age of building, amenities, height, flood zone, unit size, and how well the reserves are funded. Smaller buildings with limited amenities tend to be lower. Resort-style, oceanfront towers with multiple elevators and robust amenities land higher.

Here is a simple, illustrative breakdown for a $600 monthly HOA fee:

• Insurance on the building: $120 (20%)
• Reserves for future projects: $90 (15%)
• Management and admin: $72 (12%)
• Utilities for common areas: $72 (12%)
• Routine maintenance and repairs: $90 (15%)
• Amenities and services: $66 (11%)
• Grounds and pest control: $36 (6%)
• Contingency or other items: $54 (9%)

Use this as a framework to read any building’s budget. Always confirm the actual numbers in the current HOA documents.

Special assessments and reserves explained

A healthy reserve fund is your best protection against surprise costs. A reserve study outlines every major component of the property, its useful life, and the funding plan for replacement. Many associations are partially funded, which can increase the risk of special assessments.

Special assessments happen when there is not enough money in reserves to cover a major repair or an unexpected event like storm damage. The authority to levy an assessment and how owners vote on it will be in the CC&Rs and bylaws. Assessments may be due in a lump sum or offered in installments.

How to read the HOA’s financials

Ask for these items early in your due diligence period:

• Current operating budget and year-to-date profit and loss.
• Balance sheet with operating cash and reserve balances.
• Most recent reserve study and any engineering reports.
• Meeting minutes from the past 12 to 24 months.
• Master insurance declarations, including wind or named-storm deductibles.
• Delinquency or aging report for owner dues.
• A list of assessments over the last 5 years and any pending claims or litigation.

Watch for common red flags:

• Low reserves compared to needs shown in the reserve study.
• Frequent special assessments or large dues jumps without a clear plan.
• High delinquency rates, often 10 percent or more.
• Pending litigation or large uninsured exposures due to high deductibles.
• No recent reserve study for a complex, high-rise, or amenity-heavy building.

Financing and insurance basics

Condo financing programs often have project-level requirements tied to occupancy, reserves, and delinquency rates. Talk with your lender early to confirm eligibility for your target building.

Flood insurance may be required if the property sits in a Special Flood Hazard Area. Confirm the building’s flood zone and who carries the flood policy. Review the master policy to understand what the HOA covers and what you need on your HO‑6, including optional loss assessment coverage.

Investor notes for North Myrtle Beach

If you plan to rent your condo, confirm the association’s rental rules and any local short-term rental permits. A high share of short-term rentals can increase wear and raise maintenance costs, yet some buildings still produce strong rental income. Analyze your true carrying cost by combining the HOA fee, expected vacancy and management, and a realistic allowance for special assessments.

Due diligence checklist

Use this quick list to stay organized:

• Budget, prior-year actuals, and balance sheet.
• Reserve study and recent engineering or inspection reports.
• Master insurance declarations and deductibles.
• CC&Rs, bylaws, and rules, including rental policies.
• Minutes for the past 12 to 24 months.
• Delinquency report and any litigation disclosure.
• Five-year history of regular dues changes and special assessments.

Ask these questions of the board or manager:

• What is the current reserve balance and date of the last reserve study?
• What major projects are planned in the next 1 to 5 years, and how will they be funded?
• Have there been special assessments in the last 5 years? Why and how much?
• What is the owner delinquency rate and the collections policy?
• Who insures the master policy, and what are the wind or named-storm deductibles?
• Are there bulk utility or Internet contracts included in the fee?
• Is the building in a FEMA flood zone, and who carries flood coverage?

Ask this at your showing

• Please share the current budget, reserve study, last 12 months of minutes, and the master insurance declarations.
• Are there any pending projects or votes that could affect dues?
• What is included in the monthly fee for this unit type?

Two quick, practical examples

• Illustrative special assessment math: If your HOA fee is $600 per month and the association levies a $10,000 special assessment, paying it over 12 months effectively adds about $833 per month during that year. Your effective monthly housing cost would be about $1,433 for those 12 months.
• Insurance deductible exposure: If the master policy has a high named-storm deductible, some costs may pass through to owners after a major storm. Knowing the deductible and how the HOA plans to cover it helps you gauge risk.

Local guidance and next steps

Strong HOA finances protect your condo’s value and your peace of mind. In North Myrtle Beach, where salt, storms, and seasonal use are part of the picture, careful review matters even more. Get the documents early, read the reserve study, and understand what the insurance does and does not cover.

If you want a local, no-pressure walkthrough of a building’s budget and rules, reach out to The Kirk Stalvey. Book an appointment and get clear next steps tailored to your goals.

FAQs

What do HOA fees cover in North Myrtle Beach condos?

• They typically fund master insurance, reserves for future repairs, management, utilities for common areas, maintenance, amenities, landscaping, and contingency needs.

Are HOA fees higher for oceanfront condos?

• Fees often run higher for oceanfront or amenity-rich buildings due to salt-related wear, elevated insurance costs, multiple elevators, pools, and beach access upkeep.

How do special assessments work in a condo association?

• When reserves are insufficient for a major repair or storm recovery, the board may levy an assessment per governing documents, payable in a lump sum or installments.

What should first-time condo buyers review before making an offer?

• Ask for the current budget, reserve study, insurance declarations, minutes for 12 to 24 months, delinquency report, and a 5-year history of dues and assessments.

Do HOA fees include flood insurance in North Myrtle Beach?

• It depends on the building. Some associations carry flood policies for common property, while owners may still need HO‑6 coverage and should confirm flood requirements with their lender.