Don’t Let Buyer Competition Keep You from Purchasing a HomeThis year’s record-low mortgage rates sparked high demand among homebuyers. Current homeowners, however, haven’t put
SO YOU WANT TO BUY A BEACH HOME
Dated: November 1 2019
Published 6/1/2016 - Beth Ross
Buying a beach house of your own to come back to year after year is a great luxury, but not one that should be approached casually. Your beach vacation house is an investment and must be researched with all the care and caution you put into finding your first home. If your beach house purchase leaves you worrying about your financial future, you will not enjoy it.
Congratulations! If you have already decided that City:Myrtle Beach&beds=0&baths=0&min=0&max=100000000&map=0&quick=1&submit=Search" title="Search Properties in MYRTLE BEACH">MYRTLE BEACH is the place for you, you have completed Step One. There are many types of homes available all along the Grand Strand, oceanfront condos, beach cottages, townhomes and houses.
Set up a budget and research what it can buy you. Include costs such as hurricane and homeowners insurance and hiring a maintenance person. Depending on the rental market, you might be able to lease your vacation house as much as 75 percent of the time, but don't count on fully covering your mortgage and upkeep costs with rental.
Consider buying a condo. A house might have better privacy and more land, but a condo has the advantage of included maintenance, which makes it a more convenient option.
Decide between beachfront and off-beach houses. Beachfront houses are more expensive and appreciate more quickly in a developing market, but that also means that your money won't get you as much on the beach as it will a bit inland.
Have the house professionally inspected before you buy. If you do decide to buy a beachfront house, have a geological surveyor inspect the shore nearby to see if it is stable or eroding. Research tides and storm surges as well to make sure that flooding is not a problem.
If you are interested in purchasing a home at the beach, either as a second home or as an investment, please consider choosing Carolina Pines Realty – 843-438-1545 or check out our website at www.homesofmyrtlebeach.com. We will be more than happy to help you make your dream of living by the ocean a reality.
Picture Courtesy of Ed Roberts - Local Photographer
Having moved to SC from CA in 2005 I have found this was the best decision I could have ever made. I love the areas of the Grand Strand and Pee Dee and find new places to explore every day. I was a ....
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