Are you buying this as a vacation property or a primary residence?

primary residence. I was planning on moving to the beach within five years but now just seems like a perfect fucking time.

>>17251739
Get a job there first if you can. It'll help to have it lined up for you, otherwise you'll end up burning through your inheritance much faster than you'd like. Half a million is not a lot of money.

HOA fees are $639 a month, and since that covers all utilities I figured I could just buy a bike and spent the rest of the 400 a month on food and what not

Are you planning on getting a job? Or are you looking to live off the inheritance indefinitely?

Scratch the 150k condo. I found a better condo for 89k with a $459 dollar a month utility fee

>>17251746
I plan on paying for my CDL after a few months of unwinding and just literally relaxing.

>>17251745
639 a month is quite a lot. (for comparison, I live in a condo that I bought for $225k and our monthly dues are $150). And be aware that HOA dues can increase in the future. Get a copy of the HOA rules and bylaws. Compare to other condo communities in neighboring areas.

>>17251775
Are you oceanfront though? the first place that was 639 a month was oceanfront but I've decided on a different one and its oceanview so itll be 459. But yeah, I plan on getting a job after a few months.

>>17251784
Dues are be set to cover expenses; they're not tied in to property values in any way. Being ocean-front vs ocean-view doesn't cause electricity, water, and sewage to suddenly be significantly more expensive. The difference must be something else (insurance, landscaping, community facilities such as a pool, rec room, etc).

>>17251719
>Myrtle Beach
Good lord, why? Find a beach town that isn't crawling with drunken fratboys every summer and live there instead.

>>17251796
Well it is a resort and has a starbucks and shit in there

condos are for retards. buy a house you pay once. buy a condo, you pay for it again and again and again.

>>17251719
anon
listen
500k is really not that much money in a big picture sense
you need to invest. you need to make the money work for you. live frugally now, and let your wealth build. talk to a financial advisor, accountant, one of your friends with a business degree, etc. build your portfolio. i would suggest looking into real estate- either fixing and flipping or renting. this could be your big break, dont squander it by making poor investments and blowing your money

>>17251719
I inherited roughly $200,000 last year. I basically haven't touched it (did a one time withdrawal of 9k to cover some travel expenses and necessary major purchases like getting my car fixed etc, and another 2k to invest in some higher risk stocks). It sits in a couple of index funds and earns steady dividends.

This was right after spending a year unemployed, every day ramen and stress, then getting a low paying job and living just over paycheck to paycheck. Gotta say, it feels pretty fucking nice to have a huge nest egg and not worry about money anymore. I cut my hours down at work so I can have an extra day or two a week to take classes or volunteer, and I feel a lot more confident and ambitious now that I'm not stressing every day about rent. My money earns money on itself and I basically put my paychecks into living expenses and entertainment.

I would encourage you to take a while before blowing a huge percentage of this money. If you're dead set on buying a beach condo, take your time to shop around. You're not desperate anymore, so don't let yourself get ripped off.

If I were more satisfied with the area I live in, I would definitely buy a house (and potentially rent it) because they're cheap and it looks like the demand is going up, but I don't want to commit to living here.

You should really think long term about how you can turn this money into "set for life" money.

>>17251810
As in a trendy new development type of facility? Those places don't have the greatest history of maintaining their re-sale value.