Myrtle Beach Real Estate

It is almost the end of February, and now is the time of year that I speak with the most people about buying a rental property in the Myrtle Beach Area. It is not just a rental property, but a vacation rental that is most desired. Early spring to me is the best time to purchase a vacation rental property, because in most case there will be an instant gratification from of rentals soon after closing.

The rental rates go up in March, because demands for the rooms go up in Myrtle Beach around this time. It is true that our busiest season is from Memorial Day to Labor Day on the ocean, and the spring season is great for golf course condo rentals. There are several different types of vacation rentals to choose from, and people buy them for different reasons. Most of the time, the purchasers are planning on using the condo, house, or villa for a week or two throughout the year. Some people may buy a vacation rental property in

If you are purchasing a condo that allows vacation rentals in Myrtle Beach, there are a few things that you may want to consider. First of all, the Home Owner’s Association and how it is run is a crucial factor that should guide your decision making process. In

Another real important aspect is the rental split. I am speaking of the charge for securing a guest, making sure the guest is well taken care of, cleaning after the guest and any other items that go along with vacation rental management. Typically the rental split is higher for the onsite rental companies that offer more services to the guest, and less expensive for third party off site rental agency, that typically manages check-in and check-out procedures.

Before ratifying a contract on a rental unit, you should also take a look at the Covenants and Restrictions, “Minutes from the last meeting”, and the budget for the building. Also, ask to see if there are any anticipated special assessments coming up. Knowing about special assessments can be the biggest deal breaker. To me this means that the HOA is not preparing the budget effectively in order to take care of common maintenance. There is a lot involved with Home Owner’s Associations. Just make sure that you do your diligence before purchasing a condo.

Vacation rental homes are quite different that oceanfront condos in Myrtle Beach. There is usually not a Home Owner’s Association involved. Therefore, you have to worry about all of the exterior maintenance, lawn service, pool service, trash pick up, insurance coverage, and all other aspects that may be covered with the typical association coverage. Rental rates are typically higher for a house, and the rentals are usually contracted out to third party rental companies. Rental Houses run pretty ramped in Cherry Grove,

One predominant force that drives the Myrtle Beach Area’s Real Estate Market, and helps that hospitality industry in

10. Friends, family members and even past co-workers have moved to the Myrtle Beach Area for Retirement.

9. The Information that baby boomers have gathered and researched read great reviews for the “Grand Strand”, and they ended up moving here.

8. Myrtle Beach is closer to home than

7. The baby boomers are looking for a change of lifestyle to a more relaxed and laid back environment.

6. Senior Communities are readily available in Myrtle Beach offering active lifestyles for the retirees.

5. Housing is less expensive than most Northern Areas. Baby boomers tend to pull some equity out of the home during the move, and enjoy a more comfortable retirement.

4. Property Taxes in this area are traditionally less expensive than most North Eastern Areas, especially states like New Jersey and New York.

3. Golf has become a popular sport amongst baby boomers. Myrtle Beach is sometimes referred to as the “Coastal Golf Capital of the World”.

2. Entertainment and Dining facilities are all over the Myrtle Beach Area. Baby Boomers that retire to this area find something to do almost all the time. There are usually great senior specials to take advantage of, and many times, the local newspaper will offer great deals as well.

1. I believe that the number 1 reason that baby boomers are retiring to the Myrtle Beach Area is because of the warmer climate, and the many bodies of water that make up South Carolina’s Low Country. It does get a little warm in the summer in the Myrtle Beach Area, but it is a trade for the very mild winters that we witness, and the absolutely beautiful spring and Fall Seasons that we have.

Although it is a “Buyer’s Market” in the Myrtle Beach Area now, when the market turns a little to the better in the Northeast, I expect a drastic increase of activity along the “Grand Strand”. There is so much going on here as one of the nations top retirement destinations.