How to Find Your Dream Home in Myrtle Beach: 5 Things to Know Before You Start Your Search
Imagine waking up to the sound of waves crashing against the shore and enjoying a morning coffee on your balcony with oceanfront views.
It’s easy to see why Myrtle Beach has become a dream destination for so many people, whether they’re looking for an oceanfront vacation home or a permanent place to call home.
As a real estate agent who’s been helping clients find their perfect property in Myrtle Beach for years, I’ve seen firsthand how exciting—yet overwhelming—the home-buying process can be. The possibilities are endless when you’re searching for a home in Myrtle Beach. Navigating not only finding a home you love, but also flood zones, insurance, and HOA fees can become a stressful experience.
That’s why I’m here to help.
Here are 5 key things I make sure my clients know BEFORE starting to search and buy a home in Myrtle Beach.
1. Understand Your Budget for a Home in Myrtle Beach
The first thing to do when you start thinking about buying a home in Myrtle Beach is to get a clear picture of your budget. It’s easy to get caught up in the excitement of finding a beautiful property, but understanding what you can afford—and sticking to it—is critical. I would hate for you to find a home you absolutely love and then find out later you can’t afford it so you have to settle for something not as perfect. Let’s know ahead of time!
Here’s what you should consider for your Myrtle Beach home budget:
Price Range
Homes in Myrtle Beach range from affordable condos to luxurious oceanfront estates, so it’s important to determine a price range that aligns with your financial situation. Prices can vary considerably between different areas of the Grand Strand as well. Also, you will need to factor in costs such your down payment, monthly payments, and potential mortgage rates to get a full picture of what you will be paying.
Property Taxes
South Carolina has relatively low property taxes compared to other states, but taxes can still vary depending on the area. Make sure to factor this into your budget. Horry county just came out with a new page on their website that has a property tax calculator. Click here to visit the Horry County Website.
Homeowners Association (HOA) Fees
If you’re looking at a condo or a property within a gated community, be sure to ask about HOA fees. These communities are VERY common around Myrtle Beach. These can range from a few hundred dollars to over a thousand per month, depending on the amenities and location.
Additional Costs
Don’t forget about closing costs, insurance, and maintenance. These expenses can add up, so it’s essential to budget for them ahead of time.
Pro Tip:
If you were my client, I would recommend that you get pre-approved for a mortgage before you begin your search. This will give you a solid understanding of what you can afford, and it will help you move quickly when you find the right home.
When you are ready to get serious about buying a home in Myrtle Beach, let’s schedule a time to chat and I can also put you in touch with a lender and also an insurance agent that I trust so you get the full picture of what to expect.
2. Narrow Down Your Neighborhood Options
Myrtle Beach is home to a variety of unique neighborhoods, each with its own vibe and appeal. Whether you’re looking for a laid-back beachside community, a golf course retreat, or a vibrant downtown atmosphere, Myrtle Beach has something for everyone.
For example, Little River has a small-town feel and has a lot of activities and festivals around the Intracoastal Waterway. Surfside Beach considers itself the family beach and has a more laid-back, beach town atmosphere. Conway is a great place if you want a Hallmark worthy historic downtown and a more rural feel. The Market Common area offers an urban lifestyle with shops, restaurants, and entertainment. Carolina Forest is full of great neighborhoods with lots of amenities including the largest residential pool in South Carolina.
How do you decide where to search for your home in Myrtle Beach?
Here are a few things I recommend you consider when choosing a neighborhood:
- How close are you to your work or school?
- Are you looking for a quiet, residential area, or do you want to be in the middle of the action?
- Would you prefer a more tourist or residential area?
- How close are you to flood zones and what is your risk?
Pro Tip:
I can provide a breakdown of neighborhoods in Myrtle Beach based on your needs. Whether you’re a first-time homebuyer or looking for an investment property, I can help you find the perfect area that matches your lifestyle and budget.
Check out my other article about some of these areas: Where to Live in Myrtle Beach: A Breakdown of the Best Areas
3. Know the Market Trends for Homes in Myrtle Beach
Before diving into your search for a home in Myrtle Beach, it’s important to understand the local real estate market trends. Is it more of a seller’s market or buyers market? What is the current pricing trend and how long have homes typically been on the market? All of those stats are important to knowing what to expect for your home search and can help you make informed decisions.
Here are a few other things to keep in mind :
Myrtle Beach Housing Market Timing
The housing market around here is very seasonal. Myrtle Beach sees a rise in demand during the spring and summer months, but prices tend to stabilize in the fall and winter. If you’re looking for less competition and potentially lower prices, consider buying during the off-season.
Myrtle Beach Inventory Levels
There has been a shortage of home inventory levels for a number of years. With so many people moving to the area, Myrtle Beach has struggled to keep up with the supply to meet the demand. There are tons of new construction going up to help meet those demands.
Myrtle Beach Home Appreciation
While Myrtle Beach is still a popular vacation destination, the area’s real estate market has seen steady growth over the years. It has been hard to keep up with the demand of everyone moving here. Because of supply and demand, the home prices have been rising steadily. Investing in a home here can be a solid long-term decision, especially in neighborhoods that are seeing new developments.
Pro Tip:
I’m always up to date with the latest trends in the Myrtle Beach real estate market. By working with me, you’ll get access to the most current listings and market insights, ensuring you’re in the best position to make an offer.
4. Don’t Skip the Inspection and Due Diligence
It might be tempting to jump straight into buying a home in Myrtle Beach, but before you sign any contracts, make sure you’ve done your due diligence. A thorough home inspection can save you from costly repairs down the road.
Key inspections to consider when buying a home:
General Home Inspection
Always get a professional inspection to check for any hidden issues such as foundation problems, electrical issues, or plumbing leaks. Even if you are okay buying the home as-is, it is still valuable to know exactly what you are getting.
Pest Inspection
In coastal areas like Myrtle Beach, termites and other pests can cause significant damage. A pest inspection can help ensure that your future home is pest-free.
Flood Zone and Environmental Hazards
As mentioned, some parts of Myrtle Beach may be at risk of flooding, so it’s essential to check the flood history and make sure the property is covered by insurance. You may also want to inspect for mold or other environmental hazards, especially if the property is older.
Pro Tip:
A good home inspector will give you an honest assessment of the property, which can be a great negotiating tool if repairs are needed before closing. This is an area where its important to have a real estate agent you trust and who knows the local area. I will help you navigate through all this to make sure you know exactly what you are getting when you buy a home.
5. Work with a Local Real Estate Agent
Navigating the Myrtle Beach real estate market on your own can be overwhelming, especially if you’re unfamiliar with the area. A local real estate agent like myself can help you find the home in Myrtle Beach that meets all your needs, at the best possible price.
Why working with a local agent (me!) is essential:
Expert Knowledge
As a local real estate agent, I have intimate knowledge of the area, from the best neighborhoods to the latest market trends. I can provide valuable insight into the properties you’re considering and help you make well-informed decisions.
Negotiation Power
A local agent knows how to negotiate the best deal, whether you’re buying or selling. I also have extra training and experience in negotiations so I can better help you navigate offers and counteroffers, making sure you get the best value for your investment.
Access to Off-Market Listings
Some of the best properties in Myrtle Beach are never listed on the major real estate websites. Working with an agent with lots of local connections gives you access to off-market listings and opportunities that you might otherwise miss.
Pro Tip:
I specialize in helping clients find their dream homes in Myrtle Beach. Whether you’re moving here for the first time or looking for an investment property, I’m here to guide you every step of the way.
Ready to Start Your Myrtle Beach Home Search?
Now that you know the key things to consider before you start your search for a home in Myrtle Beach, it’s time to take the next step!
If you’re ready to begin your home-buying journey, I’d love to help. Let’s schedule a time to chat so we can discuss your needs and go over steps to finding your dream home in Myrtle Beach. With my local expertise and commitment to helping clients find their dream homes, I’m here to make your Myrtle Beach dream a reality.
FAQs About Finding a Home in Myrtle Beach
1. What is the best time of year to buy a home in Myrtle Beach?
While spring and summer are busy seasons for the Myrtle Beach real estate market, the fall and winter months can offer lower prices and less competition.
2. Do I need a flood insurance policy in Myrtle Beach?
Depending on the location of the home, flood insurance may be required. It’s essential to check the flood zone designation before purchasing. I also have a local insurance agent that I trust and can put you in touch with.
3. How long does it take to close on a home in Myrtle Beach?
On average, it takes 30-45 days to close on a home in Myrtle Beach, depending on factors like financing and inspections.
Now What?
Let’s schedule a time to chat so we can discuss your needs and go over steps to finding your dream home in Myrtle Beach.
Be sure to grab my FREE Buyers Guide to help you navigate the different steps to buying a home in Myrtle Beach.