Basic Budget questions about SC. (Myrtle Beach: sales, HOA fees, homeowners insurance)

[Tarag]

I'm looking to purchase a second/retirement home in the Myrtle Beach area in the next few years. Have have a few questions about everyday bills. This may have been covered in other threads that I missed and I'm sorry if the questions seem dumb but I really am trying to get the budget right.
Single family vs. single family houses in communities- What do HOA pay? and how much are the fees? I know each community will be different I'm just trying to get an idea.
What do taxes cost?
Homeonwers insurance?
Car insurance?
Water?
Electric?
sewer?
Is garabage pick up included in taxes or a separate fee
Anything else I overlooked?
BTW we are looking for a 1 story 3 bed 2 bath home.
Thank you for the help.

[CTyankee54]

HOA fees and what they include vary from community to community. Most cover minimally the common area maintenance, pool (if there is one), etc. Some include trash pickup and basic cable. We have a friend who lives in a community in which the HOA fees cover yard mowing and general yard maintenance. So, it just depends on the community...but the rule of thumb is the higher the fee, the more services included...but this is not always the case. I've seen fees as low as $40/month up to $150/month.

If you buy a home as a second home and do not become a SC resident, you will pay at least 2x the taxes that locals pay. Generally, a $200K home will run less than $1000/year in property taxes for a resident and around $2500 for a non-resident. You will also pay property taxes on your vehicles based on their value. The older the car, the lower the tax. To give you an idea...I paid $135 on a 2009 Chevy Cobalt for this year.

Homeowners insurance will depend on where you buy, your deductible, etc. If you're east of the Intercoastal Waterway, you'll pay more than if you're west. We're just west of the ICW and pay about $1000 year on $200K home.

Car insurance has way too many variables to even start to give you an idea of price...driving record, age of car, deductible, type of coverage, how many drivers, how many miles, etc. I can tell you that our car insurance went up slightly when we moved here from CT.

Water runs about $30/month if you don't water your lawn. Sewage is included in your water bill.

Electric depends on your lifestyle but generally $150/month. Look at your current usage on your current home and calculate your cost here by multiplying KWH by about .13cents. If you live outside of Horry Electric's area, it's about .09cents but if you're in the MB area, you're usually under Horry Electric.

Garbage runs about $30/month if it's not in your HOA fee. You can avoid the charge (if not in HOA) by taking your own garbage to the recycling center. There's generally a center close to most communities.

You've hit upon most of the major expenses. Your sales tax will be higher here but it's more than offset by the low property taxes (IMO). Gasoline in SC is one of the lowest prices in the nation so depending on where you're coming from, you'll probably find some savings there.

Hope this helps. I'm sure others on the board will chip in and you'll find expense experiences may differ from mine.

[Tarag]

Thank you CTYankee54. We are coming from Long Island so we are use to paying alot for gas, taxes and electric. I would probably become a resident and my husband would stay with his NY residence for now until we moved down for good.