COSTS
Although Regime Fees sometimes scare people, having lived in both condos and single family homes, the cost is similar annually or in most cases, cheaper to live in a condo. People who have never experienced this kind of living are often shell-shocked by the monthly fees. Don't be, just consider it insurance for the future maintenance. Do beware if the Regime Fee seems too low. In Charleston, the Regime Fees include the Flood Insurance & Insurance for the Liability of the Building, so that cost will make the fees seem higher than other parts of the country, but flood insurance is needed for homes as well. As a condo owner, you will need to get HO6 insurance which insures your personal belongings along with any expensive upgrades that may not be covered through the condo insurance.
In the Tides, there are some perks that you may not see in all condos. The water and cable are covered by the HOA in addition to sewer and trash disposal. Your additional fees may include more channels or faster service fees. You will be responsible for your electric & gas bill which will be considerably less than living in a home because of the insulation factor of the building.
Here is a breakdown, summary of the costs you can expect. For details on each, please look deeper for an explanation by clicking above for explanations.
