Myrtle Beach condos are a great investment, located amidst the convenience and charm of South Carolina's famous and fun Grand Strand.
With thousands to choose from, how will you decide what the best deal is?
We're glad you asked.
You can go to just about any Myrtle Beach real estate website on the internet and search the MLS for condos and homes for sale in the Grand Strand. There are Oceanfront Condos in the established favorite resorts, brand NEW CONDOS that offer bigger and better amenities and are sparkling clean (which brings higher rental values), much less expensive villas that are several blocks off the ocean, and even inexpensive (comparatively) but luxurious golf course condominiums that are perfect for someone who wants to use the home for family and friends instead of rentals.
Presently, there are foreclosures in Myrtle Beach for every type of property. If you can move fast, find a distressed owner, or for the best deal of all, a SHORT-SALE, the amount you can save on real estate at the beach can be amazing. But usually in order to really accomplish a super deal like this, you have to have ready cash and an agent that will find the property, check it over with a fine-toothed comb, and know how to deal with the bank to make it happen. There are only a few Realtors in the area who have the specialized expertise in this area. (WE WORK WITH THOSE FEW!)
So it all depends. Not counting the foreclosures, many times you may see what seems to be a wonderful deal, like an oceanfront 2 bedroom for $200,000, for example. But usually there is a reason for the price. Perhaps it's an older building with structure problems...one that insurance companies refuse to insure. Maybe the pools are small and old, and there will be an upcoming huge assessment to replace them. You
must have an agent representing you who KNOWS all the properties and that you can trust to steer you away from problem resorts. (OUR PARTNERS ARE EXPERTS!)
Perhaps you will save a nice amount in the initial purchase, but the furniture is old and the appliances have to be replaced? Do you have the time (and ready cash) to immediately spend $10,000 out of your own pocket to get the condo in a condition for obtaining rental income? The best condo rental companies require the rental units to be in perfect shape with new furniture and appliances before they will agree to manage them. Vacationers pay high prices for rentals, and they EXPECT perfection. There are some "fixer-uppers" to be found, though - and you can save money in the sales price when you find one. So think it through and decide what your priorities and requirements are before you start looking. Keep a thought as well about the price of condo insurance, H06 rates, and rental condo insurance.
Ideally, if you intend to buy for an investment and rental income is your priority, then you should be careful to purchase a condominium that is new, highly publicized and popular, and has an on-site, seasoned rental office. Finding a bargain for sale in this type of resort is not going to be easy, but there are a few, and that is why you need a professional buyer's agent that KNOWS Myrtle Beach Condos.
Whether you are looking to buy a primary home, enjoy a vacation condo, or find an investment property in this beautiful area, look no further. We will find the perfect Myrtle Beach real estate, to fit your needs and fulfill your dreams of owning beachfront property!
