Myrtle Beach Blog

Myrtle Beach Real Estate News & Market Trends

You’ll find our Myrtle Beach blog to be a wealth of information, covering everything from local market statistics and condo and home values, to whats happening right now in local community.  We are very involved in our community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Oct. 15, 2018

12 Myrtle Beach Activities That Are Perfect for Seniors

South Carolina is one of the top three states for retirees. The state sees a net increase of over 8,000 retirees moving to the state each year.

Myrtle Beach's warm climate and friendly tax laws for seniors make it one of the fastest growing retirement communities. Myrtle Beach activities provide retirees with world-class dining and entertainment.

Relaxing at the beach is fantastic! You don't need to go lay out at peak hours to enjoy the beach. An invigorating sunrise walk on the beach is one of the best free things to do in Myrtle Beach.

If you are not an early riser you can take an evening stroll as the sun goes down. Myrtle Beach has 60 miles of brown sugar sandy beaches for you to enjoy.

Expect the beaches to be crowded during peak times. June, July, and August are the busiest times of the year.

Considering relocating or vacationing in South Carolina? Let us help you discover all that Myrtle Beach has to offer.

Myrtle Beach Activities

 

1. Myrtle Beach Pinball Museum

Affordable Things to do in Myrtle Beach

If you like retro things to do, your going to love this place. It will take you right back to a time of your youth. This museum is a fun  hands on museum where you actually get to play your favorite games. Its also one of the most affordable things to do in Myrtle Beach! Located at 607 N 27th Ave, Myrtle Beach SAC 29577 you will find games from the 1970's, 80's 90's and today. 

 

2. Watch a Minor League Baseball Game

The Myrtle Beach Pelicans are the resident minor league team. They are a Single-A affiliate to the Chicago Cubs.

The park they play at is seniors friendly. Games tend to be quieter as there is less capacity then professional teams.

You can catch their games from April to August. During this time there are games almost every day so you are sure to find one that fits your schedule.

Promotions

Every night of the week there is a different promotion to take advantage of. Mondays you can get half off your ticket with a backpack buddies donation.

Celebrate Taco Tuesday with $2 tacos. Wednesday you can buy BOGO hot dogs. Thursdays are $1 draft beer and half off wine.

Friday is the ultimate in deals with $2 craft beer drafts and BOGO sausages. If you have a first responder ID you will also get 1/2 off your tickets on Friday.

3. Boat Cruises

There are plenty of intercoastal waterways for you to cruise. All you need to do is decide what style of cruising you want to do.

You could plan a romantic dinner cruise for you and your partner. For more of a party take a trip on the Big M Casino Boat.

Once on board, you can enjoy the buffets, live entertainment, and Vegas-style gambling. If you are looking for more adventure consider a cruise that takes you out into the Atlantic.

There are many tours that offer dolphin watching excursions. If you prefer to bring your sea life home with you, take one of the fishing charters.

4. Fish From the Piers

Love to fish but prefer to keep your feet on solid ground? Fish from one of the piers that line Myrtle Beach's coast.

These areas have some of the longest piers on the entire East Coast. The Apache, Cherry Grove, and Surfside offer clean and senior friendly facilities.

The Myrtle Beach State Park is another place you can go fishing. Know that fishing is popular and you will share the pier with other fishing enthusiasts.

Pier fishing is one of the best fun free things to do in Myrtle Beach. All you need to bring is some bait and your pole.

Apache Pier

Be sure to visit the longest wooden pier on the East Coast. It's open year-round for use.

During the day there is a bait and tackle shop open for all of your fishing needs. When it's time for a lunch break stop by Croakers.

They offer a selection of locally caught fish and shrimp. If meat is more your thing they also offer burgers and hot dogs.

When the sun goes down stick around for the nightly entertainment during the summer months. Award-winning bands come out to play your favorites.

5. Golf Outings

Myrtle Beach is known for some of the top golf courses around. There are over 100 different courses in the area to choose from.

Courses at every skill level can be found, so you're sure to find the right challenge for your game. Be sure to check out the Dune golf and Beach Resort or Caledonia Golf Course.

Caledonia

The course at Calendonia is a Mike Strantz design that has a layout worthy of admiration. Golf enthusiasts refer to Strantz as an artist with a bulldozer.

You will find 6,526 yards on 125 acres of land. Decades-old live oaks line the fairways as Spanish moss hangs from their limbs.

If you want to make a weekend out of your visit be sure to check out their stay and play packages. There is even an option to buy a combo ticket for the True Blood course across the street.

6. Experience the Art Museum

Sunny warm afternoons are the perfect time to cool off in the Art Museum of Myrtle Beach. This award-winning museum is a three-story house on the outside.

Inside though you're struck by pure sophistication. National exhibits are regularly featured.

Artists such as Frank Lloyd Wright have exhibits. Smaller regional artists also have exhibits of their southern influenced art and photography.

Admission to the museum is free for everyone. If you'd like to attend one of their many talks, events, or classes you will need to buy tickets.

7. Ripley's Aquarium

Need a place that is perfect for the young and old? Ripley's Aquarium is one of the best family activities in Myrtle Beach.

The aquarium offers a variety of activities depending on how close to the sea life you want to get. If you want to get up close and personal you could go swimming with the sharks.

If swimming is too close, you could have a sleepover with the sharks, outside the tank of course. Whatever you choose to do, the employees are ready to answer all your questions.

Everyone working at the aquarium is well equipped with knowledge of the marine life. Look for their senior discounts for cheap tickets.

For an even better deal, look for their partnership tickets. You can get tickets to the aquarium and pelicans baseball games.

8. Wheels of Yesteryear

Get ready to see some of the coolest vintage cars around. This car museum opened in 2009 with 100 cars.

A private collector owned the collection and decided he wanted to share it with the public. Visiting this museum gives you an up close and personal look at some rare vintage and muscle cars.

Over the last 45 years, Paul and Carol Cummings have lovingly restored each of the cars. They took care to preserve all VIN numbers to keep the original spirit of the car.

They rotate the cars every year in January. This ensures you'll get a new delight every year you visit.

Notable Cars

The collection includes a 1971 Plymouth "Hemi" Cuda convertible. It has an automatic transmission. It also has the E-body which was only offered in 1970 and 1971.

The Corvette is one of the most recognizable and loved cars in American car culture. Now is your chance to see a 1962 Stingray.

This particular car has knock off wheels and 327 cubic inch V-8. There are very few of these cars left in existence today.

For those who are into trucks, there is a 1955 Dodge Stepside Pickup. The V-8 first appeared on models from this year. It also has the rare feature of a large back window.

9. The Carolina Opry

Spend two hours enjoying the show that has received accolades from the likes of USA Today and CNBC. The Carolina Opry combines dance, comedy, and music to create a thrilling show.

The cast of 35 performers rotates throughout the year to provide an ever-changing show. You'll relax in the luxurious theater as you take in the world-class talent and elaborate costumes.

Time Warp

If a variety show doesn't pique your interest, consider the Time Warp series. You'll see the same world-class artists from the Opry performing the songs from the 60s, 70s, and 80s.

Musical performances get a modern enhancement with multimedia screens and special effects. This high energy show will take you back through the times by way of America's most popular songs.

10. Legends in Concert

See your favorite artists in concert again with the Legends in Concert tribute show. Each performer looks like their legendary artist counterpart.

Talent abounds though as they also sing live as the pay homage to the icon they portray. You'll find artists from throughout the ages ranging from Adam Levine to Louis Armstrong.

You'll want to keep going back as new artists are featured every four months. Some of the performers to visit Myrtle Beach include Elvis Presley, Roy Orbison, and Lionel Richie.

11. Brookgreen Gardens

Spend the day at Brookgreen Gardens enjoying the outdoor mix of nature, art, and history. These beautiful botanical gardens were founded in 1931 and are a National Historic Landmark.

Botanical Gardens

The gardens offer 9,127 acres of preserved and cultivated landscape for enjoyment. Check their website to find out what is in bloom in the butterfly garden.

Be sure to see the Live Oak Allee. You'll see 250-year-old Live Oak trees from the 1700s when the property was rice plantations.

Sculptures

While strolling the many gardens you will notice large sculptures displayed among the blooms. This is the largest collection of American figure sculptures in the country.

There are also three galleries that house the rest of the collection. It will take you more than one visit to see the entire 2,000 piece collection from 425 artists.

Food

If you get hungry while roaming the grounds you have two options. You can either visit the onsite restaurant or bring your own picnic.

Excursions

As we mentioned the grounds include over 9,000 acres, this is way more property than what you want to walk. You can still enjoy the property with one of the excursions offered.

Choose either the boat or overland vehicle tour to enjoy a look deep into the property. The boat excursion is on a spacious 48-foot pontoon boat.

You'll cruise the waterways of the old rice plantations now home to South Carolina wildlife. If water isn't your interest try the Trekker land tour up the highest bluffs on the property.

You'll appreciate the sweeping views of the landscape. Be aware that this excursion is bumpy and will justle you make the trip.

12. The Market Common

If you are looking for an escape from the beach tourist chaos venture to the Market Common. It's located on the Myrtle Beach Air Force Base as a live-work dining and shopping complex.

Food

You'll find a selection of restaurants offering Chinese, American, and Italian cuisine. There is also lighter fair to satisfy your sweet tooth with doughnuts or ice cream.

Shopping

Stroll along the beautifully manicured walkways as you peruse the selection of shops. You'll find national brands such as Orvis, Pottery Barn, and Southern Living.

Farmers Market

From May through September a farmers market takes over the common on Saturdays. You'll be able to buy locally handmade items, baked goods, and produce.

Grand Strand Senior Center

The Grand Strand offers daily activities and classes specially designed for seniors. Fill your day with your favorite activities or learn something new.

Some of the classes offered include quilting, oil painting, line dancing, and music. If you are looking for a card game bridge, canasta, bunco, and bingo are all offered.

Myrtle Beach Activities Are Waiting for You

If you are looking for things to do in myrtle beach this weekend, try out one of these suggestions. Before you know it you'll be meeting people, making new friends, and settling in.

Your Myrtle Beach activities don't have to cost a fortune. You just need to know where to look to find a great deal. Some great free activities are the museum and pier fishing.

The aquarium and minor league baseball games offer cheap things to do. Look for the senior days and special discounts.

While not cheap, the golfing opportunities are some of the best in the country. The same is true for the cruising charters, you'll spend some money, but get breathtaking views of the water.

Let us help you find the perfect retirement condo in Myrtle Beach with these tips.

Posted in Market Updates
Sept. 25, 2018

How to Make a Condominium Investment Part of Your Retirement Plan

Recent estimates have found that nearly half of Americans approaching retirement age don't have enough money to retire.

If you're one of those Americans, don't get disheartened yet. There are a lot of options out there that can serve as financial safeguards. A condominium investment might be the best way for you to get some enjoyment out of your golden years and make some money while you're at it.

Here are some things to consider before you do it.

condominium investment

A Condominium Investment for Retirement

In order to make an investment in a condo, there are a number of things that you have to have fleshed out in your head before you take action. From location to practicalities like finances, try to take the following things into account.

Where Do You Want to Be?

A lot of people migrate to Florida to find retirement condos, and for good reason. Before you make an investment that you hope will sustain you through old age, you should make sure that the locale is to your liking.

Consider visiting places like Myrtle Beach and see multiple locations to get a good feel. This is the first thing you should do because the location is going to be the bedrock of all of the decisions you make beyond that point. Things like property taxes and rental value will be dependent on the area and quality of condo that you purchase.

Think About the Logistics of the Investment

Speaking of things like property taxes, it's time to consider all of the extra things that don't come immediately to mind when you think of investing.

Let's flesh out a simplified example of a condo investment to give you a good idea of how much money will be coming in and out. Let's say that you buy a condo for 100,000 dollars. We'll also say that the rent you charge will be 1,000 dollars a month.

That's will total out to 12,000 dollars a year, making the return 12 percent in the first year. That's going to remain fixed at 12,000 dollars a year, and your investment will be paid off in less than 10 years, which is pretty good.

That being said, there are a number of expenses that you have to take into consideration. You'll be faced with a real estate tax, which we'll say is around a thousand dollars per year. You will also have to pay insurance on the property, coming in at around 500 dollars per year.

You'll also have maintenance fees and things to take into consideration. These will depend on the quality of the condo and the attitude of the renters. You should also consider the idea that the condo won't be used every month out of the year so there are some losses there. Let's just say that the condo will be vacant for two months per year.

Condominium investments are still fantastic options, but it's important to look at the finances realistically before you jump into something.

Condo Association Fees

Many condos have association fees that are required at certain intervals. It's understandable that these would be required, considering the fact that there's a lot to be done around the property. Just like you would need to keep up maintenance on your home, the condo association has to maintain a lot of things as well.

Maintenances can include landscaping to keep the property value up, repairs on damages from weather, and parking and garage issues. The condo association fees are highly dependant on your location, but you can expect to pay two to three hundred dollars a month if you're choosing a mid-range condo.

More Locational Considerations

On top of finding a nice location and decent condo association to fit into, you need to consider some other external factors that could impact your investment. First, is the location one that will keep people coming for years to come?

A beautiful location can get a property far, but economic factors can cause people to be scared away or opposed to the idea of vacationing there. Properties near college campuses are typically in high demand. That's a factor that isn't likely to change, either, because older parents are likely to vacation where their children go to school and work.

Other factors to consider are natural resources, economic trends, and frequency of hazardous weather. These factors will give you an idea of whether or not the area is growing or declining in popularity, which is essential to the value of the investment.

If you find an area that is on the upswing, the odds are that your demand will increase as time moves on. In that case, you can raise the price of rent and improve the value of your investment.

One thing to look out for is a growth in popularity due to a major business. While general growth in city infrastructure and popularity is a good thing, you should be wary of those cities that grow as a result of one business.

What Could Happen?

Even though Disney shows no sign of ever losing importance, let's take Disney Land, for example. Imagine that Disney Land was located on the waterfront, surrounded by condos full of people who vacationed near the park to play and enjoy the scenery.

While the natural beauty would be great, that condo would not be quite as desirable if it weren't next to one of the world's most popular theme parks. Now imagine that you bought a condo near Disney Land immediately before the park went out of business.

What was a fantastic investment at first turned into a purchase with a poor rate of return. Few people would want to vacation to a place that had no notable qualities other than a beach. There are beaches everywhere, and people are likely to purchase where there is more to offer.

Research into the area and find out what the odds are that something is going to change drastically in the near future. Associations that have been long-standing are great bets because they show a consistency with the local economy.

Do You Plan to Buy With Cash?

You might want to buy a property with cash if you have the option. Most people don't have fifty to one hundred thousand dollars on hand to put toward an investment, though.

If you're looking further out and considering buying a condo a few years down the line, consider speaking with a financial adviser to discuss ways that you could save enough to pay for a condo in cash. If you're thinking more short-term, however, you may need to mortgage on your condo.

Mortgages shouldn't be something to deter you from making an excellent investment, though. Whether you've paid off a previous mortgage in the past or you've managed to avoid ever taking one out, the option is a valid one.

Optimizing Your Mortgage Situation

There are a lot of ways that you can improve your odds when it comes to getting a good rate on your mortgage. A lot of it has to do with your credit score and your history as a renter or homeowner. It's likely that you have a lot of experience with credit if you're considering retiring.

That being said, some things aren't set in stone yet, and you can still bump down your rate. One thing that significantly helps is having the ability to put down a significant amount toward the mortgage in advance. You don't always need to give a down payment but it can really help.

You should seek to have the ratio of down payment to mortgage at about eighty/twenty. So if your mortgage is going to be 100,000 dollars, you should try to give a down payment of 20,000. This can be difficult, but you'll find that the amount you save on interest is well worth it.

Getting Pre-Qualification

Looking at a mortgage will give you a good idea of where your finances stand and how much you can spend on a property. Getting pre-qualified can happen extremely fast, taking only a few minutes if you do it online, and will give you an idea of what kind of rates you will be able to get on different properties.

Doing this will give you a framework to use while you're looking for properties. It will save you from some heartbreak if you fall in love with a property that doesn't work out in pre-approval. Pre-approval is what you do when you've pinpointed a property and are looking to take out a mortgage on it.

When you get to the mortgage stage, you should certainly consult with a financial adviser and get quotes from different lenders. Lenders often have varying pros and cons, and you may find that some will work better for you than others. Don't pick the first one you find and go with it, make sure to scan your options.

How Do You Plan to Treat the Property?

What's the end goal for you in owning an investment property?

If you play your cards right and plan carefully, investing in a condo could be one of the best decisions you ever make for your retirement. Get a good idea of how much income could conceivably come in each month and plot that forward into the later years of your retirement.

If the numbers aren't adding up the way you need them to, there are some options you can consider. If you're looking at properties that are likely to increase in value, you should consider flipping yours to make a profit and invest in another.

Ever heard of the guy who started out with a cell phone for sale on craigslist, eventually trading his way up to lavish cars and properties? Your initial investment doesn't need to be the only one you ever make. There is certainly room for upward mobility in retirement, and it all depends on the investments that you make.

Word to the Wise: Get a Realtor

Realtors have an ear to the grindstone when it comes to specific areas, properties, values, and projected value. Finding a great realtor is a lot easier than it seems, and doing so will likely save you thousands of dollars in red tape and difficulties finding properties.

A realtor will turn you on to things that you may not have considered as well. The rental industry is changing in the modern age, with many people seeking not to stay in condos, but to occupy homes for short amounts of time. This is a result of the "Air B&B" craze, which is allowing people with extra space to make significant monthly income.

You can consider buying a home in a vacation area as well. This is a great option for those seeking to retire and make money while only owning one property. If you buy a property with significant guest space, you can isolate that space and rent it out for higher rates than you would a condominium.

These rates rise if you live in an area with high touristic value. Cities that host the Superbowl, for example, find that Air B&B rates often triple, with people renting out their homes for 70,000 dollars a week in some cases. This is an easy way to have a strong income and a stream of new, interesting people consistently coming through.

For those who don't like the idea of having strangers within their home, consider properties that have a guest house on the property. Guest houses hold a higher value than sectioned off living spaces because, understandably, people like to have their own space.

Looking for a Condo? Check Out Myrtle Beach

As we've discussed, a condominium investment is better in an area that people love to be. There's no better place for condos than Myrtle Beach. The town has a tried and true history of being able to draw people in and keep them there.

If you're interested in finding a property in the Myrtle Beach area, we've got you covered. We're sure you won't regret the decision.

Posted in Market Updates
Aug. 29, 2018

7 Rainy Day Activities in Myrtle Beach for Your Family Vacation

Are you heading to Myrtle Beach for this year's family vacation?

Tourists flocking to Myrtle Beach can look forward to plenty of sunshine and hot weather. But, as with most humid climates, this area is home to above average rainfall.

In fact, Myrtle Beach receives an average of fifty inches of rain per year. This is nearly twelve more inches that the average rainfall for the rest of the United States.

That being said, it's always a good idea to have pre-planned activities that are fit for the rain. Fortunately, Myrtle Beach is home to year-round attractions that have the ability to make even the rainiest of days fun.

From a world-renowned pinball museum and aquarium to a famous outlet center and art museum, it's safe to say that there's something for everyone in Myrtle Beach.

If you're planning a trip to Myrtle Beach, you're going to want to ensure that you familiarize yourself with these rainy day activities in Myrtle Beach. We're uncovering seven of the best family-friendly activities.

rainy day activities in myrtle beach

1. Myrtle Beach Pinball Museum

If you're looking to experience the number one Myrtle Beach attraction on Tripadvisor, then look no further.

The Pinball Museum is famous in South Carolina and attracts locals and tourists alike. Stepping foot into the museum, you'll be automatically transported back to the 1980s!

The museum is home to the largest collection of public pinball machines in South Carolina. What separates this pinball collection from others is the fact that these pinball machines are functional and visitors can actually play with them.

If you're not exactly a pinball fanatic, fear not. The Pinball Museum is also a fun place for non-pinball enthusiasts to spend the afternoon. The Museum also has a number of other games available for enjoyment. For a complete list, click here!

Not only is this option fun for the entire family, it's also extremely affordable at only $12 for each hour of play. Rather than having to purchase tokens for each machine, all machines are accessible throughout the hour. Remember, this is an extremely popular attraction. That being said, you may be subject to wait times.

Here, all workers are volunteers and feel passionate about the incredible environment in which they have created as well as the children's charity they support. This is a labor of love that has been carefully crafted to perfection.

The museum is located at 607 N 27th Ave in Myrtle Beach near the Myrtle Beach Convention Center and is only four blocks from the ocean.

Myrtle Beach Pinball Musuem

2. Franklin G. Burroughs - Simeon B. Chapin Art Museum

Are you looking to get in touch with your artistic side?

If so, why not spent the afternoon perusing the Franklin G. Burroughs Simeon B. Chapin Art Museum?

This art museum is considered to be one of the finest museums in all of South Carolina. It also happens to be located in a stunning retrofitted home that has been converted to a tasteful event space.

Visitors can look forward to a collection of exhibitions, interactive displays and creative and educational programs. Based on the programs that exist at the time, visitors can expect these programs to be age appropriate and cover a wide variety of topics and collections.

If you plan ahead, you can look to arrange to take a guided tour of the exhibits. If you're lucky, you might even get a chance to meet the artist themselves! For a list of current exhibitions, click here.

Because this museum is not large in size, it makes it easy to view the entire gallery in a timely manner and to genuinely enjoy the entire experience. Visitors can also look forward to an oceanview tea room as well as a much-celebrated gift shop.

Best of all? There is no specified entrance fee! Visitors can choose to donate whatever amount they see fit. This allows the art museum to be an affordable day spent with family and friends.

3. Legends in Concert Myrtle Beach

Have you always had in on your bucket list to witness a tribute band? How about the likes of Elvis Presley and The Beatles? Or, what about Michael Jackson and Marilyn Monroe?

While we may no longer have the option of watching these legends perform in the flesh, these tribute performances offer the next best thing! As it turns out, a taste of live entertainment just might be the best method of brightening up a rainy day.

Legends in Concert is internationally acclaimed to be a fantastic show and experience. Fun for all ages, this gives families the perfect setting for witnessing an unforgettable show.

Not only does every performer look the part, they've also perfected the natural voices and dance routines of the stars they pay tribute to. If you never got the chance to see these stars first-hand, a rainy day in Myrtle Beach is the perfect occasion to finally make this dream come true.

Of course, there are countless tribute performances throughout the country. But, Legends in Concert has truly stood the test of time for thirty years. It has also been awarded the best tribute show and has been praised by critics everywhere.

Guests can look forward to singing along the all of the classic hits. This is truly one of the best, family friendly experiences in Myrtle Beach!

Shows take place on an almost daily basis and prices range depending on the show. For added reassurance, tickets should be purchased in advance.

4. Ripley's Aquarium

If you're looking for an attraction that's really going to resonate with the kids, you're going to want to check out Ripley's Aquarium.

Here, visitors get the experience the depths of ocean life from a safe distance. Whether you're interested in the wide variety of fish that are home to the ocean, looking to come face-to-face with a shark or study the beautiful underwater environments, there's something for everyone.

You can even take it one step further and dive with sharks or have a sleepover in the company of the sharks! These are unique experiences that kids are certain not to forget.

Visitors can also look forward to an educational experience. The employees at the aquarium are trained professionals that are well equipped in their knowledge of marine life. You can learn about conservation, zoological practices and even learn more about their sea turtle rescue and release programs.

Tickets start at $24.99 for children and $34.99 for adults. However, there are specialized and discount passed available to retirees and seniors, students and those affiliated with the arm.

5. Tanger Outlet Center

Looking to strike a deal and knock some items off your shopping list?

As much as we look to spend the majority of our time on vacation outdoors, a rainy day makes for a great excuse to get some shopping done. Whether you're in search for yourself or for gifts to bring home, why not shop at a discounted price?

The Tanger Outlet Center in Myrtle Beach carries incredible stores from clothing and shoes to households and electronics. Here, shoppers can look forward to a wide variety of major brands being represented at discount prices.

These are brands such as Adidas, Banana Republic, Gap, Under Armour, Polo and more!

Sure, these items may be last year's inventory, but there's no denying the incredible variety available and at prices that you simply just can't beat. The outlet center is also home to a good variety of restaurants and food courts making it easy to spend the afternoon.

Pro tip: seek to arrive as early as possible. This helps to beat the crowds not only indoors, but also when it comes to finding a parking spot! You can also pay $10 to become a lifetime Tanger Club Member which provides you with plenty of worthwhile coupons for your shopping experience.

Unlike some major outlet malls, Tanger Outlets in Myrtle Beach has been praised for their pleasant and overwhelmingly clean environment. It's also had a major upgrade within the last few years making it not just an attractive indoor space, but also easy to navigate for shoppers.

Tanger Outlets has two locations in Myrtle Beach that are located on Highway 17 as well as Highway 501.

6. WonderWorks

If you happen to be feeling adventurous, why not work up the courage to head to Myrtle Beaches favorite educational amusement park?

WonderWorks is home to over 50,000 square feet of entertainment. Not only is the area known for their fun and exciting attractions, it's also a fun and exciting educational experience for kids.

Here, kids can learn about science, natural disasters, space, and art. It's safe to say that this is certainly a fun way to learn without sitting in the classroom!

For the more adventurous, rest assured there are plenty of tasks at hand. Visitors can look forward to a glow-in-the-dark ropes course, zip line, laser-tag arena, and a 6D extreme motion ride.

Generally, the whole exhibit takes about 3-4 hours to get the full tour and experience. However, once a guest pays their initial fee, they can spend as much time inside the park as they would like.

You can also leave the attraction and come back that same day. One ticket allows you entry throughout the entire day. This means you can leave for a quick lunch break if you'd like to stray outside of the park.

However, the park is home to a restaurant that serves common dishes such as pizza, sandwiches and more. There is also a fully stocked bar for adults!

Tickets start as low as $18.99 for children and $28.99 for adults

7. Wheels of Yesteryear

Calling all vintage car enthusiasts!

If you're looking to really blow your mind with some of the coolest cars you've ever had the privilege of laying your eyes on, you're going to want to check this out.

Wheels of Yesteryear is a car museum that opened to the public in 2009. Originally, the 100 cars in the collection belonged to one sole owner. However, he decided to open his collection for the enjoyment of the public.

Here, visitors come from all over the globe to bear witness to this incredible collection of vintage and muscle cars. This allows visitors to be up close and personal with a collection of cars that many of us have only seen in the movies. You can even look forward to seeing the famous car from the legendary Joe Dirt movie!

Even for those that are self-professed car enthusiasts, it's only natural to enjoy the simple trip down memory lane such a place brings to its visitors. This car museum is especially popular with the older population that enjoys seeing cars from their youth!

As for tickets, adults can expect to pay a flat fee of $10.00 whilst children's tickets cost $7.00.

rainy day things to do in myrtle beach

Rainy Day Activities in Myrtle Beach

On top of its 32,000 residents, Myrtle Beach attracts nearly 14,000 tourists on a yearly basis.

Not only are the beaches and weather patterns some of the best in the world, Myrtle Beach is also home to some incredible all-weather attractions. This is why so many visitors choose to buy vacation homes in Myrtle Beach!

Whether you're a music junkie, looking to get some serious shopping under your belt or get in touch with your artistic side, there's certainly something for everyone.

While most flock to Myrtle Beach for the beaches, these rainy day activities in Myrtle Beach help to make any day fun and exciting. And, because Myrtle Beach is home to above average rainfall, it's always beneficial to keep these indoor attractions in mind.

If you're looking to learn more about Myrtle Beach and what it can offer you, be sure to visit our blog. See you soon!

Posted in Market Updates
Aug. 10, 2018

How to Find the Perfect Retirement Condo in Myrtle Beach

The average age of retirement is 62 but the average age of death at 78.6 that leaves us with over 15 years to fill. Many people at the age of retirement choose to downsize.

Maintaining a large home takes a lot of work and money. Most retirees don't want to spend their hard-earned free time on yard work and repairs. Which is why many retirees look to purchase a condo and some even relocate to another part of the country.

But if you're going to go through all that effort, you want to find the perfect place and home to live out your golden years in comfort and style that's still affordable. Which is why many retirees are looking to move to Myrtle Beach, SC.

We want to help you find the perfect spot to call home for many years. With that in mind, keep reading to learn how to find the perfect retirement condo in Myrtle Beach.

Retirement Condo

Retirement Condo Location

Your first order of business is to determine where you want to live. Some seniors focus only on finding a place where only seniors are allowed. Usually, that starts at 55 plus but some places have their cut-off around 65 years of age.

If you're looking to move into senior condos, your first order of business is to figure out where they are located. While senior living condos are in every state, there may not be any in the town you currently live in.

You may also decide you want to live somewhere else in the country. If you choose to move, you'll have to figure out if you want to move closer or further away from your family.

Also, the weather will play a huge factor in your life. If heat and humidity bother you, then a senior condo in the south may not be for you. If however, you hate the cold and never want to see snow again, then South Carolina is a great option.

Not everyone wants to purchase a condo for seniors only. You may prefer to live out your golden years surrounded by people of all ages rather than within a community filled with members of your own generation.

Retirement Taxes

Taxes and Other Expenses

When you're retired, your income levels are much lower than when you were working full time. Due to retirement and often, health issues, many seniors are on a fixed budget.

Certain states like New Jersey are known for their high taxes. Those on a fixed income should look to move to states with lower taxes to help make their money last longer.

Most retirement villages and even condos also have added on monthly fees you're expected to pay. Most of the fees go towards shoveling the snow, landscaping, and other types of maintenance but how much they are varies depending on where you're planning to live.

Make sure you fully understand the extra expenses you'll have to pay before you decide which retirement condominium you want to spend the rest of your days in.

Choose Whether You Want to Rent or Buy

Right now, it's more expensive to buy a condo than to rent one in every state. However, before you move to a senior condo, there are more considerations you need to make.

If you decide to buy your own condo, you can decorate it however you want. It's also yours to sell, you can take out equity, and it's something you can pass down to your heirs.

If you choose to rent a retirement condominium, when something breaks, there's someone else there to fix it for free. And if something like a major appliance breaks and can't be fixed, it's replaced by the management company, not you.

Work With a Realtor

Trying to find the perfect retirement condo on your own will take a lot of work. Unless you know exactly where you want to be, it's a good idea to hire a realtor.

A realtor is going to know exactly where all the senior living condos are located. They'll also help you narrow down your search without feeling overwhelmed by the vast amounts of choices you can make.

Realtors also have an ongoing network of people and vendors who keep them in the loop whenever a new condo is available. They can also help you search in your price point and make sure you get the best deal.

Also, if you need to sell your home, a realtor will make life a lot easier and less complicated. A realtor can also help you ask the questions you didn't even know to ask.

Retirement condo at the beach

Look Beyond the Glitter

Most retirement condo communities come offering a wide array of activities for seniors. Many have swimming pools, tennis courts, and even golf courses.

While this looks and usually is, impressive, your goal is to look beyond the glitter to see what's really going on in the background. The worst thing you can do is end up in a senior condo where the administration is completely useless.

Don't just take one tour of any retirement condominium you're looking at. Staffing levels and senior activities may vary at different times of the day. Maybe you walked in during chair yoga which happens to be the only health class offered that's halfway decent.

Talk to as many staff members as possible. Ask them how long they've worked there for. Turnover is high at senior living condos due to the low pay. Look for a senior condo where the staff is invested in their careers.

Don't forget to talk to the residents as well. While they might look happy and healthy at first glance, you don't want to end up stuck in a community with angry, petty people who make you feel like you went back to 7th grade.

Retire to Myrtle Beach

Look at the Various Levels of Care Offered

Some retirement condos offer no care at all. You simply are a resident and are allowed to enjoy the amenities but if something happens to your health, it's your responsibility.

Not all senior living condos are like that. Many offer a range of care to their residents.

Some offer round-the-clock nursing care for individuals with serious medical needs. Others offer 24-hour supervision to provide additional assistance with daily living but are otherwise healthy individuals.

Other communities are known as continuing care retirement communities (CCRCs). These senior living condos provide access to care when and if they need it. There are different levels and residents can move in between these levels as they need to.

Also, don't forget to consider the fact that while you may have your health and energy at this point, things can change at any moment. If you're planning on living out the rest of your days at the same senior condo, take into consideration possible future health requirements.

 

Faith-Based Communities

Some people may want to live the rest of their lives in a faith-based retirement condominium. Many retirement communities are owned and operated by faith-based organizations.

Faith-based senior living condos offer opportunities to make friends and provide fellowship with other residents who share similar values and morals. This may help to provide someone moving to a new residence with the reassurance that at least they have their faith in common with their new neighbors.

Many new residents feel as though they're treated like old friends and already have a built-in community to come home to. Of course, those from different religious backgrounds and walks of life are always welcome at faith-based retirement communities.

Activities

As we've already mentioned, most senior living condos offer a wide array of fun-filled activities. That doesn't always mean you want all the extra bells and whistles.

Find out what the residents at the retirement condos like to do for fun. See what types of extra amenities are offered on the campus itself.

Then look to see what types of amenities are offered off-campus in the surrounding town or neighborhood.

Whlie it's great that your community may offer a wide variety of extracurricular activities if the town doesn't have basic amenities like a grocery store, pharmacy or a few restaurants, that may become problematic.

It's also a problem if there are no nearby hospitals or quality doctors in the nearby area.

Also, not everyone wants to move to a retirement condominium and become the life of the party. Some people prefer a quieter lifestyle with only a few good friends in order to call a place home.

And if you hate golf but the golf course is the premiere attraction at your senior condo, this may not be the place for you. Make sure you enjoy the type of lifestyle offered at your senior condo.

Condos with Low Maintenance fees

Focus on Low Maintenance

You didn't work your entire adult life to use your retirement for doing chores around your home. Unless you really enjoy doing that type of stuff, it's probably a better idea to find a senior condo that handles all that stuff for you.

Also, let's face it. You're not getting any younger. As you age, basic tasks become harder to perform. You may find your energy isn't what it once was.

It's also entirely possible for you to suffer from a major health problem. Even a small stroke could leave you unable to walk. While it's a scary thought, the time is now to start making arrangements for possible "what ifs".

Focus on finding a senior condo that is easy to maintain. Consider downsizing and getting rid of everything you are no longer using, no longer need, and no longer want.

Smaller space means less time cleaning. Make sure your lawn care and landscaping needs are handled by someone else.

Figure out what your next steps are should you become incapacitated and communicate those wishes with your children. Get your will in place and let someone know where you keep it.

The more you prepare ahead of time, the easier the transition. And the more you focus on finding senior living condos that are fully maintained, the more you can focus on enjoying your life after you move.

Always Read the Fine Print

If you choose to live in retirement condos for seniors where healthcare and other services are offered, there's a chance you may have to sign a contract.

Even in basic retirement villages, there are rules and regulations you should be aware of before you decide to move there. They may have a say in what decorations you can put up and what trees you can plant in your yard.

At senior facilities where healthcare is offered, it's perfectly legal for the establishment to ask a resident to leave if they are becoming a problem. A problem may be that you are simply getting too sick for them to properly care for you.

Another reason residents in senior living condos are asked to leave is for behavioral problems. If a resident becomes abusive or combative, it's common to ask them to leave to ensure the safety of the other residents and staff members.

Know in advance what might trigger the decision to have you removed from your home. Then make sure you determine what the next course of action you and your family need to take should you find yourself in this position.

What do retirement condos cost

 

 

Cost

You can now find senior living condos in all different types of price ranges. There are those for the extremely wealthy and even those communities willing to accept Medicaid.

Unfortunately, most retirement condo communities don't publish their price list on their websites. The price also depends a lot on the types of amenities offered and in some cases, which services you want to receive.

Keep in mind that not all communities structure their fees and costs in the same way. Some may have hidden fees that can quickly add up if you're not aware of them. If your retirement condo has a kitchen and you ask for room service, you may have to pay extra for that request.

After narrowing down your list of senior retirement condos and taken into account your current and possible future healthcare requirements, it's time to start collecting quotes from them all.

Find a great place to retire

Find Your Retirement Condo With Us

Never be afraid to ask as many questions as you need in order to make the right decision. Your retirement condo may be the last place you call home in this world, so make sure you love it.

We can help you find the home of your dreams. Click here to start your search with us.

You have questions... We have answers! 

Give us a call 843-839-9870. Jerry Pinkas Real Estate Experts. We are here to help! Talk soon.

Posted in Market Updates
July 30, 2018

Top 10 Things You Need to Know About Buying a Vacation Home in Myrtle Beach

Myrtle Beach is a wonderful place to visit for its pristine beaches and prime family atmosphere.

Many people from all over the East Coast find themselves in Myrtle Beach summer after summer for family vacations, golf getaways, and fine dining. It's also a great locale for investors because of the multiple properties available for vacation and rental homes.

What does it take to buy a vacation home in Myrtle Beach? It really depends on your personal and financial situation.

There are a few things you should know before investing in a vacation home--in Myrtle Beach or otherwise. Buying vacation rental property vacation homes for sale is a big decision that shouldn't be taken lightly.

If you're interested in buying a vacation home in Myrtle Beach, then you're in the right place. In this post, we'll discuss some tips to get you started on your journey.

Buying A vacation Home

10 Tips for Buying a Vacation Home in Myrtle Beach

Whether you're looking for beachfront condos for sale in Myrtle Beach or a private oasis on the outskirts, there's something to suit any taste and budget. All you have to do is determine how you want to use the property when you're visiting and when you're not.

If you're ready to retire and spend most of your days golfing or playing on the beach, you may not need anything too elaborate. If you plan to spend a lot of time entertaining and living in your home, something more spacious may be your best bet.

Here are some things to think about before you jump into the first property you find for sale.

Myrtle Beach Vacation Home

1. Occupancy

The first thing you'll want to do when considering investing in a vacation home is to decide whether you'll rent it out when you're not using it.

You can perform a simple search of vacation rentals for sale to find homes that fall into this category. It's also important to make sure that the home you're considering is eligible as a vacation rental if that's how you intend to it.

Sometimes there are strict regulations pertaining to using your vacation home as a vacation rental. You'll need to be sure you understand the rules governing the area where you're shopping.

2. Get a Realtor

Once you've decided what type of property you're interested in, it's time to contact a reputable and reliable realtor.

There are literally hundreds of properties for sale at any given time in Myrtle Beach. Having a realtor on hand will help matters immensely. Your real estate agent can give you advice on property rental rules and clarify local transaction fees, taxes, and commissions.

A good realtor can also help you negotiate the cost of the property. They'll help you find out what it costs to maintain as well as previous rental history.

Vacation Property Best Location

3. Location

Of course, one of the most important things to consider for your vacation property is the location.

You will probably pay more for prime real estate right on the beach in comparison to an ocean view condo on the back side of a building. Your decision may also depend on what you plan to do while you're visiting Myrtle Beach.

If you plan to rent your vacation palace out, you'll need to be sure it's in a short-term rental zone. These zones are set by Homeowner's Associations throughout the region. Ask your real estate agent to confirm these areas before you start shopping.

affordable beachfront property

4. Budget

Perhaps the most important thing you'll need to focus on before you can invest in a vacation home is to set up your budget.

Of course, you'll need to plan for the overall cost of the property--including loan origination fees. But there are other costs and even income to consider, especially if you plan to rent the property out.

If you do plan to rent the property, you should be realistic about your rental income expectations. You should also consider how often you will plan to use the property yourself and account for that time in your budget making decisions.

Other things to consider when compiling your budget are insurance, HOA fees (if applicable), and taxes.

HOA Fees

One of the first questions you should ask your realtor before deciding on a property is whether the property is part of an HOA. If so, there are definitely extra monthly fees involved on top of your regular mortgage payment.

You'll need to find out what the HOA fees cover specifically such as utilities, including electric, internet, and water/sewer expenses. You may also be interested to learn if the HOA fees include home owner's insurance. Other charges included in your HOA fees may include building repairs and maintenance.

Taxes

Taxes in South Carolina are not as hefty as some other states, but you'll still be required to pay them. If you're not a resident of the state, you'll pay a little more than in-state residents.

You'll want to consider the type of property you're buying in order to assess the taxes that you'll be liable for. High-risk properties such as oceanfront homes or condos will fall into a higher tax bracket.

Find out or ask your realtor what the tax map number is for the home in question to review the taxes. You can also visit the county property records for more detailed information.

Rental Income

Assessing your rental income will be based on a few different factors. Depending on the location of the property in proximity to the beach, golf, or dining options may also depend on how much you can charge.

You can review the prior rental history by requesting it from the current owner. If the property in consideration is a condo unit, you can ask the property management company to supply this information.

Besides the income, you'll also need to be prepared for other expenses that come along with renting. These may include repairs and maintenance, but you should also think about cleaning costs after each visitor leaves.

It's wise to make buying decisions based on cost before calculating income.

Owning Rentals at the Beach

5. Property/Rental Management

A vacation property requires just as much if not more security than your primary home.

For this reason, it's always a good idea to hire a property management company to keep an eye on your property for you. You would hate to be caught in a situation where your pipes burst or the home has burglarized without your knowledge.

If you intend to rent your property when you're not using it, you'll want a rental agency to handle the logistics for you. A rental agency or management company can help you find renters, take care of maintenance and housekeeping. They'll also notify you in the event that something happens with your property.

You'll want to know the difference between an on-site rental management company and an off-site rental management company. That way, you can make the best choice for your property.

On-Site Rental Management

If you're purchasing a unit within a building, most likely you'll have an on-site rental management company that manages units in the building. These companies typically charge anywhere from 40%-50% of your gross profit rental income.

The important thing to keep in mind, however, is what these companies can do for you.

An on-site rental management company works directly on the premises. They take calls and queries about potential units for rent. If your unit is available, the rental management company can plug renters in and keep your unit occupied throughout the peak seasons.

Considering this, you'll net more profit over the long term than you might with an off-site rental management company.

Off-Site Rental Management

Off-site rental management companies only charge 10%-20% of your gross profit. But it's important to keep in mind that they may not be as efficient at caring for your guests as an on-site management company.

If you have an off-site rental management company taking care of renters and maintenance and cleaning, that's fine. But what about amenities for your guests or getting guests to fill your unit in the first place?

If your property is a unit in a building, the on-site rental management company will not rent your unit if it is managed by an off-site company. This could lead to the loss of renters. Besides that, your guests may not be allowed to use property amenities such as the pool, which can be a deterrent.

Rental Properties

6. Lending/Financing

Financing options for vacation homes are different than primary residences. For this reason, you'll need to be prepared for the approval process.

Many investors opt to pay cash for condos because lenders are not likely to provide financing. Condos are considered high-risk properties and are therefore non-warrantable. This can make it far more difficult to find a lender that's willing to finance.

Otherwise, if you are financing a vacation property, you can expect to come up with at least 30% down. You should also expect a higher interest rate.

Best properties to purchase as second homes

7. Choosing the Best Unit/Property

Remember what we mentioned about getting a realtor?

A realtor can help you find the right property for your taste and budget without a lot of hassle. Depending on your intention for the property, the realtor can help you assess associated costs or average occupancy and rental rates.

If you're planning to use the property for rental income, it's important to consider your return on investment to help your decision. The recommendation is to look for properties that offer as close to 10% annual return as possible.

For those that only plan to use the unit as your primary vacation destination, it's important to match your choice with your lifestyle. If you live in the city, you may want a property off the beaten path. Likewise, if you live outside the city limits, you may want something closer to the hustle and bustle for your vacation residence.

8. Security

Of course, you want your vacation home to be safe from intruders and vandalism just as much as you want security for your primary home.

This is something to discuss with your property management company up front. You can also talk to neighbors or other locals that you may know to ask them to keep an eye on your property from time to time.

You may consider reviewing crime rates for the area where you intend to purchase. It will also be easier to rent your property out if there is a security system in place.

Beach House

9. Maintenance

While your rental management company can take care of basic maintenance for you throughout the year, you'll still need to be prepared to take some time fixing up your property.

Make sure to account for this necessary task when planning your visits to your new vacation home. You may need extra time during your stay to perform maintenance so that you don't spend your entire vacation couped up fixing things.

Questions about Beach Properties

10. Ask Questions

The most important thing you can do when buying a vacation home is to ask as many questions as you can possibly think of.

Especially if you don't live in the state, you'll want to make sure that your property will be properly cared for. Don't hesitate with your queries to ensure that you get the most honest and upfront answers.

Remember, the more questions you ask, the fewer surprises you'll run into later.

Final Thoughts

Buying a vacation home may be one of the most exciting things you ever do--as long as you know what you're getting into.

Make sure to keep these tips in mind when you start thinking about your purchase so that you can be best prepared for what to expect in the process. And then, get ready for vacation because you'll have your own property to visit!

When you're ready to invest in the perfect vacation home, check out our search page. We have an extensive list of Myrtle Beach real estate available.

 

Give us a call 843-839-9870 We are here to answer your questions.

Talk soon!

Posted in Market Updates
July 23, 2018

Are Condos a Good Investment? Your Questions Answered

A condominium is a cross between an apartment and a house. You buy and own it like a house. Yet, it's like an apartment because you live close to your neighbors. You may share a wall, or live above or below another resident.

Usually, a condo costs less than a single family home. A single-family house on a popular beach may cost millions. Yet, a condo in the same location can be half the price.

The condo may include extra amenities like a pool, clubhouse, and walking trails. The lower cost and extra features make a condo very appealing. But, are condos a good investment?

The first step is to consider how you will use the condo. Will it be your primary home? Do you plan to use it as a vacation home? Or, will the condo be a rental investment? Different uses will impact your decision.

Keep reading to see if a condo is a wise investment for your situation.

Are condos a good investment

Are Condos a Good Investment?

The best return on investment for a condo comes from buying low and selling high. This is easiest if you buy your condo during the development phase in a popular market.

Another option is to buy a condo in foreclosure. If you win the bid you could own a condo in a great location for a lower price. Be prepared to spend money to correct any problems with its condition.

Another way to make money on a condo is to rent it. Let's look at the financial considerations of a condo as a primary residence, and as a rental property.

Primary Residence or Rental Unit

Condos as a residence

Many of the positives associated with condos apply whether it's used as a rental unit or a primary residence. There are some expenses related to tenants when a condo is a rental unit. We'll cover those later in this article. First, let's look at financial considerations for either type of condo owner.

Assessments and Homeowner Association (HOA) Fees

If your condo has association fees, ask how often they assess the property. Assessments are charged to ownership to cover the cost of maintaining common areas. They can include groundskeeping, parking lot, and exterior building maintenance. Entrance areas and lobbies may be included.

Condo fees can range anywhere from $100 to over $1,000 per month. The amount depends on the location and type of condo. A luxury condo has higher fees than a no-frills building.

Once you figure all your expenses you'll know if your condo is a worthwhile investment. After you figure potential expenses, deduct them from the annual rental income to calculate net rent. If it's an attractive return, it's a good investment.

Does the Building Have Pending Litigation?

Before you buy anything, check records for any pending lawsuits. HOA litigation issues can be minor or major. It could be about unpaid member dues or a construction defect. Either way, make sure you understand what's at stake.

Not every lawsuit will effect a sale. But, it's a good reason to reconsider your purchase. You don't want added expenses after you move in.

Does the Unit Require Major Repairs?

Find out if the unit you want to buy will need repairs. A coat of paint or new floors aren't a deal-breaker. Structural damage, however, can be serious.

Meet with the current owner or condo association to assess the situation. Hire your own inspector to examine the integrity of the unit. You don't want to buy a unit that requires major expenses before it's ready to rent.

 

Condo location is important

Location

The next step is to examine the viability of the location. Is your condo in an area with high rental demand? A vacation hot spot or nearby university increase the potential for constant rentals.

Look at the pros and cons of the neighborhood. Are you counting on a major employer for your tenants? What if the business moves or closes?

Are newer condos or apartments being built near yours? If so, you may need to upgrade your condo to stay competitive. You'll need to add the cost of improvements to your expenses.

Other things to consider is proximity to the water. A condo with water views commands higher rental fees than one 10 blocks from the beach. It's essential to buy a condo in a popular location.

Try to find a place near the water or entertainment destinations to stay in demand with renters. You'll have an easier time getting tenants. Don't rule out up and coming parts of the city as a viable option.

Ask local experts what they think of the area. It's vital you assess the popularity and viability of a neighborhood before you invest there.

Low Maintenance

A condominium is a great choice for someone who doesn't want to take care of maintaining a home. It's a great advantage if you despise yard work.

The condo association arranges for property upkeep. This means roofing, exterior painting, and common areas like a pool, tennis court, or clubhouse.

It's important to note that the low maintenance advantage is only for common and exterior areas. The inside of any condo is the owner's responsibility. If you have issues with plumbing or air conditioning, you must pay for the repairs.

Amenities

The amenities you get with a condo are often unpractical, or too expensive to add to a single-family home. A condo may have tennis courts, golf courses, fitness centers, and indoor swimming pools.

You can afford these luxuries in a condo because you share the expense with the other owners. These features are excellent enticements for rental tenants.

Sense of Community

Many people become more sociable when living in a condominium setting. In a condo, you see your neighbors in the elevator, lounge, and lobby. You interact at the pool or fitness center. Some communities plan social events for residents.

If your condo is in an interesting neighborhood you may socialize at local bars, restaurants, and parks. This is different from single-family homes. In some places, people drive into a garage at night and stay out of sight. Some neighborhoods with fences and large lawns seem to discourage interaction.

Look for a condo with a large percentage of owner-occupied units for a more social setting. But remember, you can't pick your neighbors. If you don't get along with someone you'll still see them in the condo.

Less Privacy

The flip side of the social setting is condos may offer less privacy than a detached home. You're living close to your neighbors. If they're noisy, or your unit faces the main walkway, it could be irritating.

One solution is to choose an end unit. It may cost more, but you'll have more privacy if you only share one wall. You'll definitely recoup the extra cost if you sell the unit later.

Units with the most privacy may be far away from common areas like the pool, parking, and mailboxes. Think of the extra distance as built-in exercise.

Less Storage Space

It's the age of minimalism and downsizing, but you still need space for your stuff. It's important to calculate how much space you'll give up when moving into a condo.

You'll need to organize and store things efficiently. A condo doesn't have as much storage space as a stand-alone house. Plus, many HOAs restrict the size of outdoor storage. For example, you may only be allowed to have a shed that is 30 square feet. Read all the HOA rules before you buy.

More Rules and Restrictions

Some HOAs regulate everything. Owners can't back cars into parking spots. You may need permission to decorate your outdoor patio. No hanging laundry in the sunshine.

Be sure you know the rules before you buy a condo. That way, you won't encounter any unpleasant surprises (or fines) once you move in. It would be a shame to buy a condo in a community the prohibits pets the size of your dog.

Resale Value

Sometimes, condos don't sell as easily as houses. It depends on supply and demand in the neighborhood, as well as at the things we've already discussed here.

You can have the best condo on the block, but if lots of your neighbors are selling you may have a hard time competing. Yet, if you have a condo available in a popular neighborhood, you should be able to sell quickly.

Next, let's examine additional concerns for a condo used as a rental unit.

Condo Rental Property

Rental Property

If you plan to rent your condo year round, prepare accurate estimates for the following items.

Annual Rent

At first glance, the amount of rent you can charge may seem like easy money. Yes, you'll have rental money coming in, but you'll also have expenditures. You must consider every possible expense.

Taxes and Insurance

How much will you pay each year for real estate taxes and insurance? Break that number down into a monthly expense.

Maintenance and Repairs

Set aside money every month to cover any maintenance expenses. Tenants don't treat rentals as owners do. You'll likely need to make repairs.

Legal Fees, Tenant Damages

It's a good idea to earmark money for problems that involve legal fees or additional repairs. If you have to evict a troublesome tenant, you'll have legal costs. If a tenant starts a fire, you'll have additional repair costs.

Advertising

What does it cost you if the condo is vacant one month each year? If the condo is empty, you'll need to advertise for a new tenant. That's an additional expense.

Mortgage and Interest

Don't forget to add repayment and interest charges if you borrow money to buy the property. Your monthly payment goes in the expense column.

Will You Use a Management Company?

If you plan to be an absentee landlord, you'll need a management company. The manager can influence the success of your condo rental. Get referrals before hiring anyone to represent you to your tenants.

Make sure the management company you use is responsive and reliable. A company that stays on top of repairs inspires confidence and return customers.

Condos for retirement

Condo for Retirement

If you're close to retirement, you may want to sell your home and buy a condo. If so, carefully consider your budget. You should crunch the numbers to see if buying is better than renting in retirement.

Many retirees rely on pensions for income. If you don't have enough assets to pay for unexpected condo expenses, the cost could be overwhelming. As with home ownership, there's always the risk of costly maintenance. If you have assets, then it may not be part of your decision-making.

The benefit of being a tenant is you don't need to worry about market conditions. If you decide to move, you won't lose money on an investment. You can move without concern over how long it takes to sell your home.

A condo requires less physical maintenance than a home. But, it does have financial obligations. Examine your situation before buying to guarantee your retirement is enjoyable.

Myrtle Beach Condo

Find Your Condo in Myrtle Beach, SC

The beautiful weather and landscape make Myrtle Beach, SC a popular place. It's a wonderful destination for tourists and retirees.

Condos give people an excellent way to experience this popular area for less money. A single-family unit on the beach is expensive. People who can't afford to buy their own place love to rent one. Offer short-term rentals and you'll get lots of renters.

A Myrtle Beach condo appeals to families, couples, and individuals visiting the area. Treat them right and they'll come back year after year. Some people rent for weeks or even months. Repeat renters will think of your condo as their vacation home.

So, are condos a good investment? Yes, they're a smart way to get a return on your investment.

If you're interested in buying a condo in Myrtle Beach we'd love to help you find the perfect one.  

Give us a call 843-839-9870 we will tell you what to look for and what to stay away from. We are here to help you avoid the pitfalls that are costly. Talk soon!

Posted in Market Updates
July 16, 2018

A Complete Guide to Myrtle Beach Retirement Living

Are you ready for a change of pace? If you've paid your dues in the snow and freezing cold, it might be time to consider migrating south for some warmer days. After all, birds do it, so why can't you?

Myrtle Beach is home to palm trees, mild weather, and great beaches. You can enjoy it year-round, or for a getaway with your family. No doubt, your grandkids will also love all of the activities they can do in the surrounding area.

If you want to change your way of life, or simply just find an investment property to rent out, Myrtle Beach might just be your answer.

Read on to find out why Myrtle Beach Retirement Living could be the answer to all of your daydreams.

Myrtle Beach Retirement

Warmer Weather: Mild Winters and Delightful Summers

Myrtle Beach's summers might be somewhat hot and humid, but you can't beat their mild winters. If you decide to spend the winter there, you can kiss your snow shovel and winter boots goodbye and enjoy the mild days.

In fact, Myrtle Beach has more days of precipitation in the summer than it does in the fall. This means you can actually enjoy outdoor activities as they're meant to be: out of doors. And you can do them all year-round. It's not a fantasy to go golfing or fishing just as often in February as you do in June.

In January, the city's coldest month, you can expect just six days of rain. Although the average temperature isn't exactly hot, 50 degrees in January isn't too bad. It's especially refreshing if you've come from a place where the snow piles up and your winter consist of single-digit thermostat readings.

The summers in Myrtle Beach can be hot and humid, but thanks to the ocean, temperatures rarely soar above 90 degrees. If the heat ever does get to be too much, you can always take a dip in the ocean to cool off.

Retire to Myrtle Beach

Myrtle Beach is One of the Fastest Growing Retirement Communities

When many people retire, they think of wiling away their Golden Years in Florida. In fact, the aging population there has grown so rapidly that it has earned the nickname "Heaven's Waiting Room."

While Florida is certainly a lovely place to visit, it is becoming increasingly congested, thanks to its reputation as one of the best places for seniors to go.

South Carolina, in particular, has been referred to as an "undiscovered gem", thanks to the mild weather and cultural offerings. Because of the mild weather, loads of activities and things to do and a wide array of restaurants, people are literally flocking there in droves.

Because it is such a hot commodity at the moment, purchasing a property to rent out or to live in part-time is a great investment. Getting in on the ground floor before it becomes overly pricey is always the way to go. And who knows how much your property might be worth in the upcoming years?

Thanks to relatively low market prices at the moment, but an increase in interest, you can develop a nice little nest egg for yourself and your family. You can also enjoy yourself in the process.

Guide To Myrtle Beach Retirement

South Carolina is Tax-Friendly, Especially for Retirees

As you grow older, you may increasingly rely on savings to get by, in addition to social security cheques. Obviously, money matters are very important when deciding where to set down roots.

South Carolina is listed as an exceptionally tax-friendly state, which extends to retirees as well. This is mostly due to the fact that the state does not tax social security benefits.

There is also a fairly high deduction on taxes for retirement-income, which can make the state very attractive. Additionally, ex-servicemen and women will see extra benefits. A tax-deduction, especially for them, is currently in the works. If you're still working and over the age of 65, you can have up to $10,000 of your income tax-free.

Even if you can afford to outright purchase a condo or want to rent it out, you might be hesitant to do so because of high property taxes. South Carolina's property taxes are incredibly low compared to the rest of the nation, and seniors qualify for some exemptions.

Sales tax is also lower than the national average, clocking in at 7.2 percent.

For those still working and looking to phase into retirement, income tax is between 3 percent and 7 percent, depending on the amount of money you're earning.

Top Reasons to Retire in Myrtle Beach

Love Golf? Myrtle Beach is the Place for You

If you love golf, there is no question that you should be in Myrtle Beach. The city and surrounding area boasts over 100 golf courses. Many of these courses are open all year long, thanks to the relatively mild weather. You don't have to wait until the days get warmer to brush up on your swing.

You'll be treated to breathtaking views as you tee off. You also won't break the bank while playing the game, as you can play at almost any course for under $40 at any time of the day.

May golf facilities have hotels, restaurants, and spas attached to them, making it a great day out for your family. If your children or grandchildren come to visit, you can keep everyone entertained, even if they're not hardcore golf fans.

As a retiree, you can also make friends with others in the same life stage while on the golf course, increasing your social circle. This can help you stave off depression and memory issues that come with aging.

Retiring in Myrtle Beach

Myrtle Beach Retirement Communities

Myrtle Beach offers a large selection of retirement communities. While you may move to Myrtle Beach initially as a homeowner or living fully independently, it is useful to think about a time when you might need a little more care.

Some retirement communities also allow you to purchase property on them, enabling you to continue to live independently. With a retirement community, you'll have the benefit of having ongoing activities as well as the opportunity to always be meeting others who are around your age.

Myrtle Beach's retirement communities are often on golf courses and some even come with access to a common pool. Most also have game centers, movie theaters and other amenities to keep you busy.

One advantage to retirement communities is a smoother transition to further care. Many offer onsite assisted living or around-the-clock care, meaning if you or your spouse does require more care, it won't be such a shock. Instead, you'll be in the same area you were before, just with another room or location on-site.

Top Reasons to Retire in Myrtle Beach, SC

Things to Do in Myrtle Beach for Retirees

We've covered the fact that Myrtle Beach has over 100 golf courses, but what if golf isn't your thing? There's nothing to worry about, as the city has plenty to do to account for almost any taste.

If you're a history buff, you're in luck, because Myrtle Beach has tons of historical and stately homes to enjoy. Get swept back in time with the Atalaya Castle, a Spanish-style home. Or learn about plantation life on Hopsewee Plantation.

You can also visit Horry County Museum for a free day out while you learn about the history of the area.

For those who like nature, you can visit Brookgreen Gardens and the Vereen Memorial Historical Gardens. In both venues, you can explore wildlife, as well as plants that are native to the area.

Most non-profits and museums will also have volunteer programs, that are often popular with retirees. Former history majors might find a niche for themselves on an extended vacation or while retiring near these plantations and museums.

Other activities for retirees include shopping, which Myrtle Beach has an abundance of. From modern indoor shopping malls to outlet centers, there is something for everyone and you can definitely find what you're looking for.

The area also an open-air flea market in addition to The Hammock Shops Village. The latter features 23 shops that are totally unique to the area. The Village has been an attraction for many years, and you can enjoy discovering the work of local artists and craftsmen.

Cultural events are in no short supply for those living in Myrtle Beach Retirement Communities. Bands and live acts, from big names to local talent, often stop by Myrtle Beach. You can also take in the Carolina Opry, a show that permanently plays in the city.

Broadway shows often tour to Myrtle Beach, and professional theatre companies are in residence in the city. Even if you're used to high-quality entertainment, you won't miss it by moving to Myrtle Beach.

Fishing is also incredibly popular in the area, and there are several piers where you can try your luck. It is a fantastic retiree activity, as it doesn't require too much physical activity, yet allows you to spend time with your friends and family.

is myrtle beach a good place to retire

Activities to Do With Your Family

When moving to a new location, it is important to take into account the activities you can do with your extended family. Your grandchildren will certainly never be bored at Myrtle Beach, as there are so many things to do.

In addition to fishing, golfing, shopping, theater and history sites, Myrtle Beach is home to a wide array of restaurants to suit any taste. From cheap eats to gourmet dishes, you can spend quality time with your family over any type of meal.

Myrtle Beach also has its share of amusement parks that your grandchildren will enjoy. Family Kingdom Amusement Park offers 38 rides right on the beach for everyone to enjoy. The park only opens in the evenings, so it is a perfect way to end a hot day at the beach.

The park is only open during the spring and summer months, but it is a great way to keep your grandchildren entertained when they visit.

During the day, you can take your grandchildren (and adult children) to Splashes Oceanfront Park. The little swimmers in your family will enjoy the wide variety of water slides and attractions offered.

Medieval Time, the famous dinner show venue, also has a location in Myrtle Beach. Be transported to the land of knights and princesses with your grandchildren and have a memorable meal.

Myrtle Beach Pinball Museum, looking for fun things to do in Myrtle Beach, SC? Retro and pinball lovers this is for you! 

Fun Things to Do in Myrtle Beach With The Family

Crime Statistics for Myrtle Beach Retirement Living

Crime statistics are a great way to gauge whether you want to live somewhere new, but Myrtle Beach's might scare you a little bit if you disregard context.

According to Neighborhood Scout, Myrtle Beach has one of the highest rates of crime in the nation. Admittedly, just looking at this statistic might make you think twice about relocating or vacationing there.

However, if you analyze the statistics, you can easily come to the conclusion that violent crime isn't a huge issue. Mark Kruea, spokesman for the City of Myrtle Beach, said the city often lands on “most dangerous” lists because its “low permanent population skews the results.” 

 

“The FBI provides per capita crime statistics based on permanent population,” Kruea said. “Obviously, our average daily population is much greater than 100,000, but because our Census population is so small, it dramatically skews the numbers. Other cities with lots of tourism have their numbers skewed, too, but ours is especially noticeable since our permanent population is so small.

 

Why Choose Myrtle Beach?

While there are many places you could choose to retire, Myrtle Beach retirement living offers nonstop entertainment, endless rounds of golf and great fun for your family. The weather is phenomenal, and you'll never have to shovel snow from the driveway again.

In Myrtle Beach, you can truly stay as active or as quiet as you wish as you live out your Golden Years.

Check out our blog for even more ideas on things to do and advice on purchasing property.

Thinking about retiring to Myrtle Beach? 

We are here to give you the info on what to look for and what to stay away from.

Give us a call 843-839-9870 We are here to help you :)

Posted in Market Updates
June 25, 2018

Top 10 Best Golf Courses in Myrtle Beach

If you're planning a stay in Myrtle Beach, South Carolina, chances are you're going there to golf. And if you're not, you should be.

With 100 golf courses in the area, it's no wonder Myrtle Beach has been dubbed the "Golf Capital of the World."

And the great thing is, you don't have to take anybody's word that golfing is great in Myrtle Beach. You can go check it out yourself!

Best Golf Courses in Myrtle Beach

If you're a golf lover who's looking for a place to retire, Myrtle Beach is definitely the place for you. Virtually endless fairways await, as well as gorgeous beaches.

Whether you're a seasonal visitor, or you're looking to purchase in the area, you'll find this guide helpful.

With so many golf courses to choose from, you may be wondering which ones are the best golf courses in Myrtle Beach. We've compiled a shortlist to get you started.

Here are ten Myrtle Beach golf courses that are definitely worth your time. Any of these courses will ensure you have a great golfing experience.

1. Dunes Golf & Beach Club

This Dunes Golf & Beach Club offers a truly unforgettable golfing experience. Built in 1948 and designed by Robert Trent Jones, this course offers world-class golfing, accompanied by top-of-the-line member services.

Ranked number 47 in Golf Magazine's list of top 100 courses, you get to experience the setting of a private golf club but can schedule tee time even as a guest.

This course is no walk in the park. In fact, you'll likely lose some balls, maybe several of them on the course's most famous hole.

At 640-yards long, "Waterloo" has been stumping even the best golfers for years. With a reputation for being tough, this 13th hole has received every award possible and is considered one of golf's greatest holes in the world.

How's that for compelling?

After a fabulous day of golf, don't forget to visit the Waterloo Bar & Grill, named for the course's treacherous hole. Grab yourself a drink or some tilapia tacos as you reflect on a round of golf at Myrtle Beach's finest.

2. Aberdeen Country Club

The course at Aberdeen Country Club offers a diversely beautiful golfing experience. Modeled after the Royal Aberdeen Golf Club in Scotland, this course offers 27 holes divided into three groupings: The Woodlands Nine, The Meadows Nine, and The Highlands Nine.

Each grouping stretches over 3300 yards. All three groupings remain open during peak golfing seasons, so don't be afraid to try them all!

Aberdeen Country Club offers many perks besides the greens themselves. Rent some clubs at the pro shop, or purchase a shirt or balls. A snack bar is also provided.

Watch out for water hazards as you golf, and keep an eye out for animals that love the nature preserve in this natural setting. You may just see turkeys, alligators, osprey, and bald eagles.

Why not get your nature walk and golfing round in at the same time? Perfect.

3. Barefoot Resort

Experience all the best of Myrtle Beach by visiting Barefoot Resort. Four different golf courses await you, each offering premium golf experiences.

The Fazio, the Love, the Dye, and the Norman are all great for experienced players as well as those who are just starting out. Enjoy sand dunes, native grasses, and the Intercoastal Waterway as you play your round.

The elevated greens and tree-lined fairways of the Love course are considered some of the best in Myrtle Beach, so get out and see them today!

While you're not golfing, take advantage of the resort's other amenities. Visit Barefoot Landing for shopping and dining. There's a little something for everyone, from fine dining to casual eating.

Though it sounds fancy, you don't need to have a big budget to enjoy the resort. Budget-friendly options are presented in the activities as well.

In addition to golf, shopping, and eating, the beach and performances also await you at the resort. But don't forget to take advantage of the greens!

4. Golden Bear at Pawleys Plantation

Designed over 600 acres of magnolias, salt marshes, and azaleas, the Golden Bear course is something to behold. Designed by Jack Nicklaus, the course is part of the Pawleys Plantation Golf & Country Club.

The Golden Bear course was designed with the idea that "golf is a game of precision," so you'll have to stay on your toes. One style of golfing won't cut it for you, here. You'll need a combination of big swings and smaller, conservative shots to beat this course.

The Ritson-Sole School for Golf offers lessons for people of all ages, and kids learn for free. So don't be shy if you haven't golfed before. Lessons will help you have a great experience at Golden Bear whether you know how to swing a club properly or not.

Don't forget to stop by the Palmetto pub for refreshments!

5. Caledonia Golf & Fish Club

If you're looking for a golfing experience that mixes history with a fantastic design, Caledonia Golf & Fish Club is your place. Located on the site of a former working southern rice plantation, the course features live oaks that are centuries old.

This course has been recognized for both its design and beauty. GOLF Magazine listed Caledonia as number 29 in its "Top 100 You Can Golf" list in 2016. The course also appears annually on America's 100 Greatest Public courses, a list compiled by Golf Digest.

Nodding to the site's history, the course features an antebellum-style clubhouse.

Golfing at Caledonia is world-class quality; an experience you won't soon forget. The Old South style clubhouse, pro shop, and restaurant complement the 18 holes, which feature splendid oak trees and streams.

6. Myrtlewood PineHills

One of two notable courses at the Myrtlewood Golf Club, PineHills offers 18 holes of championship golf. Water hazards are placed strategically throughout the course to enhance your experience and test your skills, so make sure you're at the top of your game when you come!

The fairways at PineHills are beautifully designed and offer a gentle slope. Bunkers and large greens add to the beauty and fun of this course.

Originally known as The Pines, this course was redesigned right on top of the original route.

Considered one of the top repeat-play courses along the Grand Strand, the PineHills course is one you definitely don't want to miss.

If you have time, try playing a round at PineHills' companion course, Palmetto.

7. Whispering Pines Golf Course

Whispering Pines offers a fun experience for all, whether you're a resident, seasonal visitor, or considering moving to the area. The setting provides a great day of challenging golf, but in a setting that is serene and relaxing.

6771 yards of greens stretch through the native landscape, offering a beautiful playing area with unforgettable views. As an added bonus, you won't see any backyards along the green eliminating distractions and adding a sense of serenity.

The site where the golf course sits was originally home to 200 acres of towering pines and mature hardwoods that were cleared to make way for the green.

Fairways are tree-lined, keeping with the original layout of the area.

Lakes are carefully placed throughout the course, complementing the undulating greens, which offer an above average slope.

Thies golf course is affordable, as well as convenient, located right across the street from the Myrtle Beach airport.

Lessons are available for golfers of all levels at the Whispering Pines Golf Academy, so take advantage and learn more about the game if you need to.

For the ultimate in convenience, ship your clubs directly to Whispering Pine's pro shop to avoid hauling them through airports.

8. TPC Myrtle Beach

Tournament Players Club Myrtle Beach offers an unforgettable experience to all who golf there and is regarded among the top courses in all of America.

TPC Myrtle Beach is the recipient of many accolades, including GolfWeek's Top 10 Courses in South Carolina in 2002.

Though this course is located at a club, public resort facilities are available, where all can experience championship golf and fantastic dining.

To add to your experience, TPC Myrtle Beach offers a bar, pull carts, water hazards, a snack shop, and a restaurant. A driving range and putting green are also available.

If you're an older golfer, make sure you ask about their senior discounts when reserving a tee time.

The course stretches for nearly 7000 yards and has been awarded 5 stars by Golf Digest magazine. TPC Myrtle Beach is the only course along the Grand Strand to have ever received this distinction.

If that doesn't pull you in, we don't know what will!

9. Wild Wing Plantation Acovet Course

Avocet is one of two courses at the Wild Wing Plantation and is the winner of several awards and accolades. Grass bunkers, double fairways, and a double green help this course stand out. Creative contouring and elevated tees and greens add to the beauty and interest of the course's design.

A bar, a restaurant, and a snack shop enhance your golfing experience. A teaching pro and senior discounts are available.

And not to be outdone by anyone else, this course also includes water hazards to keep you on your toes.

Avocet offers an award-winning pro shop and a fantastic practice facility to help you stay on top of your game when you're not out playing an actual round.

10. International World Tour Golf Links

This course is unlike any other you'll encounter in Myrtle Beach and offers a great golfing experience you can't get elsewhere.

Inspired by the greatest courses throughout the world, this course offers 18 holes that mimic the most famous ones in various other countries. Instead of flying around the world to play these fantastic holes, just come to Myrtle Beach and experience them all!

You won't find any other course like it along the Grand Strand. You'll reap the benefits of a world-traveling golfer, without the hassle of needing a passport.

Try your hand at making 72 par as you go around the holes, but keep an eye out for water hazards! Then take advantage of the barm restaurant, showers, snacks, practice area, and teaching pro if you want to.

Discounts are available for seniors.

If you're visiting Myrtle Beach, don't miss your chance to play this unique course. Make sure you leave room in your schedule for this one! Experience worldwide golf, all in one convenient 18-hole course.

The Best Golf Courses in Myrtle Beach Await You

With so many courses to choose from in Myrtle Beach, the decision of where to golf can be a confusing one. But it doesn't have to be! Simply research some of the courses, or go with one of our selections.

You can't go wrong with golf in Myrtle Beach, but any one of the courses on this list is a great place to start. Explore them more to see if they're a good fit for you.

Now that you've discovered some of the best golf courses in Myrtle Beach, don't wait, get out there! Go experience a round of golf on some of the best greens available.

There are plenty of things to do in Myrtle Beach beside golf, but if you don't take part in the rich golf heritage of the area you're really missing out.

Whether you're moving to the area or just going for a visit, make sure you have a great golf experience by visiting one of the best courses around.

 

Interested in moving to Myrtle Beach so you can golf to your heart's content? We'd love to help you find the perfect place. Visit our website to get started today.

Posted in Market Updates
June 11, 2018

7 Things To Know Before Buying a Vacation Home

Before you pack up all your stuff and head over to your favorite resort for the fourth year in a row, take a moment to think about how much easier your life would be if you had your own vacation home.

Having another home just for vacation getaways can be pretty glamorous--and profitable too.

About 1.13 million vacation homes were bought in the United States in 2014, and this year, total revenue from vacation home rentals comes out to almost $18 million.

But even if a vacation property can make a great long-term investment, buying a vacation home is not a decision to be taken lightly.

No matter the benefits of owning a vacation home, buying a second home comes with some risks. It's crucial that you do your homework and plan ahead.

Follow these tips to make sure that buying a vacation home is the right decision for you--and keep these things in mind before putting down your hard-earned money on a second home.

Buying a 2nd home

Why Buy a Vacation Home?

Imagine sitting on the porch of your vacation home, overlooking the ocean or the mountains while you pour yourself another drink.

You've escaped your day-to-day responsibilities and you're determined not to check your email until you're back home in a few weeks. You're living the life.

If you've got the money to spare, owning a vacation home can be the ultimate luxury. And you can score a few extra bucks off of it too.

What you get out of it depends on how you plan to use it. Here are a few of the different benefits of a vacation home.

Vacation Retreat

42% of vacation home buyers are planning on using their new property mainly for vacations or retreats.

If you've got the perfect location in mind and you love visiting it year after year, it might be time to buy a vacation home there. In the long-term, it can save you the hassle and cost of renting other lodging facilities.

Owning your own vacation property comes with a lot of other perks. Here are a few to keep in mind:

  • Flexibility. You can use your new property whenever you want to--no need to worry about booking anything ahead of time
  • Convenience. All your personal items will be there already. Even just the little things like bedsheets, towels, and kitchen appliances will save you a lot of time and energy
  • Comfort. You can customize your home to look any way you want. Painting, decorating, or renovating can help add a personal touch to the property--so it will feel just like home
  • Taxes. While buying another house will add on to your property taxes, a vacation home is still a great chance to build equity

buying a vacation home

Future Residence

If you plan to visit your vacation home often, you might even dream of living there one day after retirement.

Taking on your vacation property as a primary residence is a great way to take advantage of everything the location has to offer. Buying a house first as a vacation home can also help you lock in a retirement home at a lower price.

You can also buy a vacation home as a residence for a family member or friend.

Whether it's buying a vacation home that doubles as a retirement home for aging parents or as a house for children to live while attending college, you can make your vacation home a great place for family and friends to live when you're not using it.

Renting to Others

Beyond using your vacation home for the yearly getaway, a big motivator for buying a second home is the opportunity to make money through rent.

Whether it's a year-round rental property or just rented out during certain seasons, you can fit your rental periods around when you'll be using the house.

The last thing you want is your expensive home to be sitting around empty for most of the year--racking up extra charges on its own. Not only will renting help you offset the cost of the original purchase, but it can also help for the maintenance, upkeep, and property taxes on your house.

10 Things to Know Before Buying a Vacation Home

So you've decided to take the plunge and buy a vacation home. 

You've picked out the color of your new carpets, you're searching for nearby attractions, and you're already calculating how much money you could get off a rental. 

Just don't get too far ahead of yourself. There's a lot that goes into buying a vacation home.

Before you put down your hard-earned cash towards a vacation house, here are some things you should know.

Best place to buy a vacation home

1) Pick the Right Location

Location is one of the most important considerations for buying a vacation home.

Be sure that you absolutely love the area around your vacation home. Whether it's the beach, mountains, golf courses, the local town, or a ski village--you have to know that you adore the location before you commit. 

Don't even consider purchasing a new property until you've visited the area multiple times. You can even rent the property for a week or two to see how you like it.

Just don't forget--it's not just about what you're looking for. Keep in mind that if you want to rent out your property, you have to make sure that others will want to spend time there too.

Typical vacation destinations will work well for potential renters, but tourists will also visit cities for conferences, meetings, or vacations. Some potential homeowners owners will look to rent in the area first before committing to buying their own house. Do some research and find out what the market is for rentals in your area.

2) Know All the Costs

Before you even consider buying a vacation home, you need to be honest with yourself about your budget.

There's no sense in purchasing a home for relaxation purposes only to stress yourself out over the cost. Make sure you're buying a house that doesn't force you to stretch your budget.

What can you actually afford? Put together the total price of owning a vacation home. This includes the upfront cost, property taxes, insurance, landscaping, and other maintenance services.

In the end, real estate can be a fickle business. You can't count on rental money covering a home entirely--at least not for the first few years. You also might not be able to sell your home for a profit later down the line if houses in your state lose some of their value.

Be knowledgeable and aware of the housing prices in your area--and make sure you have a well-planned budget.

3) Be Ready to Work

Owning a second home isn't always a vacation.

You'll need to put money and effort into your property every year to keep it well maintained.

Before you start renting, it might be a good idea to hire an interior decorator or do some personal upkeep yourself. Make sure that the inside of your home is clean, stylish, and well stocked.

Keep in mind that you should budget about 1.5% of the cost of your home to spend on repairs each year. This could include fixing the roof, hiring a landscaper, enlisting a cleaning service, and more.

4) Know How to Get There

Whether you're using the vacation home yourself or just stopping by to check for maintenance issues, you need to make sure you can get there quickly.

Even if it sounds romantic to have a house deep in the mountains or far down the coast, it won't get much use if you need a flight and a long drive to get there. 

When the home isn't being rented, you don't want it to sit empty for long periods. Try to find a vacation property that's within a few hours drive. If it's not close to your home, be prepared to commit to a long travel time to get there. 

Be honest with yourself--how often do you plan to visit your vacation property? Are you planning to hire somebody to do maintenance or to do it yourself? All of these are important factors in determining the distance between your house and the vacation home.

Buying vacation rental property

5) Have Rental Income

It's important that you have a good understanding of what it takes to rent out a vacation home.

If managed correctly, you can pay off some of the expenses or even offset the whole cost over the long-term. Research the local property prices to get a sense of what you can expect from the area.

If you're not sure where to start, try setting the weekly rental rate to about 10 to 20% higher than your expected monthly mortgage payments. You can include additional fees to cover maintenance, cleaning, or yard work costs.

Make sure you stay realistic in your expectations of income. Many buyers are overly optimistic about how often they'll be able to rent.

Depending on where your vacation home is located, it might be hard to find renters during certain seasons or months. You can't expect to fill the space every month of the year. Calculate your expected vacancy rates into your budget.

6) Taxes Can Be Complicated

Beyond the property taxes of just owning the home, expect to pay rental income taxes. 

Be sure to familiarize yourself with IRS regulations on vacation rental homes. If you're doing rentals for less than six months, the state will consider you a landlord. This means that you'll be paying the same taxes that hotels or apartments pay. 

If you stay at your own rental property for 14 days a year or more than 10% of the combined rental period, the property is still considered a personal residence. In that case, you'll be able to deduct expenses up to the level of rental income.

Federal taxes aren't all you have to worry about though. Check with the requirements at the state and local government level about any additional sales or lodging taxes.

7) Have a Business Plan

Before you commit to buying a vacation home to rent, make sure that you're prepared. 

Decide what your business plan is going to be. You can go through a rental program, which will deduct a percentage of your income but will also help you find consistent renters. Another alternative is to hire a rental management company. 

If you're doing it yourself, how are you going to do it? Online advertising? A service like Airbnb

When you're doing your own advertising, you need to make sure that your home looks as good as it can be. Make sure your interior design is perfect before you shoot. Take high-quality photographs in flattering lighting. 

You also need to take payments from your renters through a service like PayPal or Venmo. Create a schedule for regular payments from your tenants and be sure to schedule a reliable cleaning service between rental periods.

The Bottom Line

best place to buy a vacation rental

Owning a second home can be a great next step if you're looking for a permanent vacation spot. You'll get the peace of mind of a relaxing family vacation along with a great investment--as long as you do your homework and research well.

Buying a vacation home is a marathon, not a sprint. Don't be afraid to take your time, find the right location, check out the property, and make a thorough business plan.

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Posted in Market Updates
June 4, 2018

Why the Myrtle Beach Golf Courses Make it the Perfect Retirement Spot

Getting old ain't for sissies.

Luckily there are a few simple pleasures in life that make getting old a whole lot easier. Well, there are mainly two - retirement and golf. What more could you want than to spend your days growing old whilst perfecting your swing on a gorgeous sunny golf course by the beach?

Sound too good to be true?

Set in sunny South Carolina, Myrtle Beach offers the perfect location to settle down with your loved one in your later years, whilst enjoying a relaxing round of golf.

We take a look at why the Myrtle Beach golf courses make it one of the best retirement spots in America.

Myrtle Beach Golf Courses

Premier Golf Destination in the Country

What makes Myrtle Beach the greatest retirement destination? The golf courses. So much so that it's been coined the title of The Golf Capital of the World!

The golf courses of Myrtle Beach have been highlighted time and time again by some of the most respected publications in the golfing world. Golf.com released its Reader's Choice Awards and Myrtle Beach was named No. 1 in the categories of best U.S. golf destination, best buddies trip destination, and best value destination.

More than half of the 79 member layouts of Myrtle Beach have received four stars or more in Golf Digest's prestigious "Best Places to Play" guide. Twelve of these have been ranked among America's 100 greatest public courses. 

Put plainly, retiring among Myrtle Beach golf courses means you're retiring in one of the best golf spots in the world.

Spoilt for Choice

According to data from the U.S. Census Bureau, the average retirement age in the United States is 63. That gives you, God willing, over twenty years to enjoy your retirement. And if all goes well, you'll be spending a whole lot of that time on the golf course.

With so much time putting, pitching and driving on the greens, you want to make sure you're constantly challenged in your golf game. No-one wants to retire knowing they'll be teeing off on the same damn course every time. After all, variety is the spice of life.

With more than 100 courses to choose from, the golf courses of Myrtle Beach will ensure you never get bored. They also cater to every level of golfer, from beginners to experienced amateurs, to pros. Depending on what you fancy, and how much you'd like to spend, you can also choose from free public courses, semi-private and private courses.

Like we said, spoilt for choice.

Houses on Myrtle Beach Golf Courses

Budget Friendly

Let's be honest - golfing is not the cheapest sport out there. If you're a dedicated golf player that's looking to hit a whole lot of golf balls throughout your retirement, you're going to have to choose your retirement spot carefully to spending your hard-earned retirement money.

The real beauty of golfing in Myrtle Beach is that even though it has some of the best golf courses in the country, it doesn't have to break the bank. Myrtle Beach is much more affordable, not to mention much less crowded, than many of the more well-known seaside spots along the east coast.

As the birthplace of the modern day golf package, Myrtle Beach golf courses earned its place as one of the top golf courses in the country by serving as an affordable sunny escape for sun-starved Northeasterners.

Despite the classy upscale that have happened at Myrtle Beach throughout the years, the value for money in terms of playing golf and finding a perfect retirement home is phenomenal.

In Golf Magazine's Top 100

If you're a true golf enthusiast, you'll be more than aware of Golf Magazine's biennial list of the "Top 100 You can Play", a ranking of the nation's best public-access courses. For 2016/2017, Golf Magazine included not one, not two, but four golf courses from Grand Strand in Myrtle Beach, with two of them ranking in the top 40. Here they are :

  • Caledonia Golf & Fish Club in Pawleys Island
  • The Dunes Golf and Beach Club
  • True Blue Golf Club
  • Barefoot Resort

Retiring at Myrtle Beach means you'll have access to some of the most recognized golf courses in the world. Imagine waking up and having your pick of Golf Magazine's top rated golf courses in the country! A dream for any golf enthusiast.

Myrtle Beach Golf Courses

Third Most Googled Place on Earth

Forget Paris, London and New York. Myrtle Beach is the third most Googled place on Earth, following only Las Vegas and Barcelona.

A somewhat shocking statistic, this just shows how in high-demand Myrtle Beach is as a top holiday and retirement destination. In fact, despite its relatively small size, it attracts close to 15 million visitors a year. This is nearly double that of Rome, Amsterdam, and Tokyo.

You don't have to travel the world to find the perfect retirement home - it's waiting for you on the sunny coast of South Carolina! When you choose to retire at Myrtle Beach and its increasingly popular golf courses, rest-assured you'll have chosen the perfect place to settle down.

Incredible Beaches

We know you love golf, but you can't spend every day on the golf course. And it's not called Myrtle Beach for nothing.

Overlooking 60 miles of gorgeous beach sand, Myrtle Beach is one of the world's broadest, and longest uninterrupted beaches. The fine white sand is clean, firm and level, perfect for endless hours of sunbathing to catch that perfect tan.

Getting a bit too warm? Take a dip in the gorgeous blue waters. In the summer the seawater temperature reaches around 86F.

It would be a sin not to spend some of your retirement years basking in the sun with your toes in the sand and a cocktail in hand. After years of working hard, you deserve it!

Unlike many beaches around the world these days, Myrtle Beach has some modest rules to enforce some long-lost class in today's society. Skimpy bathing wear such as bikini thongs and any other swimwear showing any part of the buttocks is strictly banned in all public areas of Myrtle Beach.

You can be rest assured knowing that you're retiring in a wholesome, family-friendly community.

Perfect Golf Weather

There is nothing worse than looking forward to a game of golf with the boys, only to have it destroyed by howling wind and pouring rain.

When it comes to golfing in Myrtle Beach, you can look forward to nearly 2 800 hours of warm sunshine every single year. In the middle of the July summer, the average temperatures sit at a beautiful 82F. During the short and mild winters, you can expect temperatures between 57F and 61F.

Perfect conditions for a hole-in-one.

Myrtle Beach Weather Averages By Month

Expertly Designed Myrtle Beach Golf Courses

When you spend your golden years golfing in Myrtle Beach, you're golfing on courses designed by some of the best golf course architects in the world. Here are just two of the most famous golf course designers that have graced sunny Myrtle Beach with their course designing genius.

Pete Dye - Dye Course on Barefoot Resort

Pete Dye is considered as one of the greatest influencers of the art of golf course design. He's widely known for his sadistically difficult courses of bunkers, water hazards, and amazing ocean views; hence his courses being labeled "heaven and earth". His stunning yet unforgiving courses have brought many a great player to their knees.

Think you have what it takes?

Buying a condo in North Myrtle Beach for your retirement means you can spend your days trying your hand at the Dye-designed course at Barefoot Resort. Set on the borders of Carolina Bays' gorgeous white sands, the Dye Course is as memorable as it is challenging.

The visually stunning course is a Par 72, with a 7343-yard layout on the exterior perimeter of an exclusive gated community. As a Dye-designed course, it naturally features infamous pitfalls to capture those wandering shots. Don't say we didn't warn you!

Tom Fazio - TPC of Myrtle Beach & Fazio Course at Barefoot Resort

The Godfather of golf course designs, no living golf designer has more credits on Golf Digest's list of America's 100 Greatest Golf Courses than Tom Fazio. Fazio has designed more than 120 courses throughout his exceptionally successful career. He has graced Myrtle Beach with not one, but two of his expertly designed courses.

TPC of Myrtle Beach is among the Grand Strand's most prominent golf layouts, having hosted the 1999 Senior PGA Tour Championship. It's known for its spectacular design, and one of the most dramatic finishing holes in Myrtle Beach. It earned 5 stars in Golf Digest's Places to Play guide, making it one of fewer than 20 courses nationwide to earn the honor.

PGA Tour champion Dustin Johnson calls TPC Myrtle Beach his home course, claiming that "it's always in great shape." If it's a favorite of Johnson, rest assured it'll be a favorite of yours.

When you choose to retire on the golf courses of Myrtle Beach, you know you'll be playing among the best of the best.

Another expertly designed course at Barefoot Resort, the Fabio Course at Barefoot Resort is another course to constantly keep you on your toes.

The layout features more than 90 bunkers and water on 16 of 18 holes. Make sure you take plenty of balls with you to this course!

Fun for the Whole Family

One of the greatest joys of growing older is spending time with your family and loved ones. Choosing where you retire could play a major role in how often the kids and grandkids will come and visit their ol' pops and grandma.

Myrtle Beach offers something for the whole family, from your favorite little granddaughter to your son-in-law. If they're not splishing and splashing at the beach, you can take the whole family to one of the 1405 restaurants, from familiar fast-food chains to more luxurious, fine-dining restaurants.

For the little ones, there's a kiddie park, water slides, aquarium, IMAX screen and Nascar Speed Park. For the older family members, there are a variety of scintillating nightclubs and discreet gentlemen's clubs.

Let me tell you - once your family hears you've chosen Myrtle Beach to retire in, they'll be begging to come and visit their Nana & Papa!

Bonding Time

You love your family. But you your golf too.

At Myrtle Beach, you don't have to decide. Myrtle Beach is the perfect place to spend some quality golfing time with the family, hosting the popular Family Golf Week. Now you can share your passion for golf with everyone in the family.

The Father & Son Team Classic is one of the most beloved tournaments of the golfing calendar and has become the largest Father-Son golf event in the world. It's open to any father/son type relationship including Grandfather/Grandson and Father/Son(In-Law).

Not to exclude anyone, there's also the Parent Child Team Classic tournament. The golf tournament is open to the whole gang - mothers, daughters, sons, aunts, uncles, nieces and nephews.

An added bonus, the grandkids under 16 get to play for free at private clubs. Who knows, maybe your grandson will turn out to be the next Tiger Woods!

Hole-In-One Retirement

They say retirement is just another way to say "It's Tee Time!" And at Myrtle Beach this couldn't be truer.

With so much to offer in terms of premier golfing, Myrtle Beach is one of the best retirement spots in America. But with the Myrtle Beach real estate market as large as it is, finding the perfect retirement condo can be quite overwhelming.

Let us take the stress and hassle out of house hunting for you by guiding you every step of the way. We'll be more than happy to work closely with you to ensure that your future Myrtle Beach retirement home has everything you need to live your golden years in golfing bliss.

Ready to make the best investment of your life? Contact us today to start the process. The greens of the Myrtle Beach golf courses are waiting!

We look forward to helping find you Your next new home in Myrtle Beach South Carolina. Give us a call 843-839-9870. We can tell you what to look for and what to stay away from. We are here to help! Talk soon.

Posted in Market Updates