Thursday, October 17, 2013

Wild Dunes & Isle of Palms SC

Every year thousands of people visit The Isle of Palms, and to purchase Wild Dunes real estate and enjoy the lifestyle of living or owning a home in the Wild Dunes resort on The Isle of Palms in beautiful South Carolina. This gated resort featuring two stellar golf courses, sand tennis courts, elegant landscapes, beach access, swimming pools all over, Wild Dunes offers a vacation lifestyle anyone could love. From an investment standpoint having a vacation rental on the island isn't a bad choice either, and the market values usually perform very well as compared to other coastal towns. Many of the homes on the Isle of Palms rent for $5000+ a week. Yes, I said a week, for the oceanfront homes. The villas on Isle of Palms still get a hefty penny even for smaller one or two bedroom condos. If you are a regular vacationer to the island it would be a better investment to just buy your own, make some money throughout most of the year renting it, and then enjoy it as much as you want, when you choose. Building memories with your family, Who can put a price on that? Prices range from about $250,000 for a very small one bedroom condo to well over $3 Million for oceanfront homes on the Isle of Palms and Wild Dunes. Don't get confused because you may see some homes for sale here that as low as $30-40k, those are for shares or fractional ownership where you only get one or two weeks of usage. It's not a time share per-say, but you do share time. 
There are 18 little "off-shoot" pockets within the Wild Dunes gates and resort and included in that are 12 Condo/Villa buildings all with their own differences. You must be aware of what it takes to buy in a gated resort. Unlike purchasing a home in a "normal" area owning in a resort comes with some extra costs you might not be used to. First, there is usually a transfer fee of either half of 1% or full 1% of the purchase price. Which goes in the the HOA of the building or regime of the community. 

Search By Neighborhoods in Wild Dunes:
Grand Pavilion The Village Seascape Villas Ocean Point Mariners Walk Beach Club Villas Summerhouse
Lagoon Villas Shipwatch Villas Marsh Island Fairway Dunes Villas Sea Oats Pelican Bay Twin Oaks
Racquet Club Villas Linkside Villas Tidewater Links Clubhouse Villas Port O Call Ocean Club Villas Commons Court
Yacht Harbor Villas Lake Village Sea Cabins Boat Slips (Yacht Harbor) All Wild Dunes Waterway Island Seagrove

This helps pay to keep up the area (in addition to your monthly regime payments), and HOA dues. Which ALSO go to help keep up the maintenance of the building (if SFA), grounds, amenities, insurance, clean up, etc. The HOA monthly payments usually range from $350 month to well over $1000 depending on the building and area. Regime dues can be monthly, quarterly or yearly and vary greatly. The good news is that these payments also cover your insurances on your unit for the wind coverage, flood, and hazard (especially when pertaining to condo/villa). Not SFD. These fees do not give you free golf in the resort, however most times ownership in a resort does get you some privileges and discounts for use of golf, and tennis amenities.