My brother and I took the trip to Hilton Head, SC. It is about 400 miles from where I live in Florida. We were looking into investing in some property in the Hilton Head area. We met a real estate agent and she took us for the tour. We looked at apartments, condos and a couple of houses. My brother and I fell in love with a particular house, but it had its problems. The neighbor off the back deck had to large dogs that were pooping on and literally eating the deck. The other problem was the regime fees. The house was offered for 99 thousand and was 1600 square feet. The place was solid and it was beautiful. The major problem were the regime fees. For the one house it would cost 424 dollars a month for just the regime fees.
After five hours in Hilton Head, my brother and I headed for home. We were tired, hungry and a bit depressed. By the time we arrived at home, we already knew we had no chance of investing in property in Hilton Head. The regime fees ruined any chance we had of making a profit. If we decided to move into the house in the future, we would have to pay these fees for the rest of our lives. It is a bad feeling paying off a mortgage, only to have incredible fees for the rest of your life.
Have no idea why Hilton Head have these incredible regime fees. In my opinion it ruins the chance for outside investors to come in and make any kind of real profit. This can really makes it hard to sell a house in a tough economy we live in. You would be surprised at how many Hilton Head homes remain unoccupied.