Checking out condos along the NC coast (on Zillow)...HOA dues are out the roof. I’ve seen them as high as $16,000 annually. I’m guessing much of that is the building insurance.
We’re in a friend’s1000sf condo at Ocean Isle NC this weekend. The unit is 3rd/4th row back. HOA dues are $6500/yr. That doesn’t even include interior insurance and local property taxes. Luckily, the unit was paid off a long time ago.
My wife and I had a condo at OIB for 18 years. When we sold it in 2021, the HOA dues were $745 a month. I used the proceeds to pay off the mortgage on my primary. Ocean Isle Beach is beautiful, we go back there 2 to 4 times a year, but rent. It is a lot cheaper.