Many homeowners who have taken the leap into property investing naturally expect good returns. While leasing out property is a good way to generate passive income, you need to proceed wisely to avoid potential money pits. Tap the expertise of realtors such as Coldwell Banker Chicora Real Estate in Myrtle Beach, SC when it comes to marketing your property for rent.
Do your homework
Among other things, you need to sort out the rental rates. Research the market value of rental houses within the area and account for potential fixes to your property. Your realtor may connect you with a property manager to help hammer out a rental fee that is competitive and mortgage friendly.
If you’re looking for a good investment, one that offers great potential is a new house – specifically a vacation house in a beautiful beachside community. This venture requires a bit of prudence, however, and one of the first things you need to do is find a skilled property agent who can guide you through the process and avoid the pitfalls.
One of the most promising communities to invest in is Myrtle Beach, South Carolina. Proudly boasting a tourism-heavy atmosphere every day of the year, the city’s Atlantic shoreline gives vacationers that much sought-after beach time followed by a relaxing evening at an oceanfront home. If you are aiming to invest in a quality vacation house, the top agents in the area, like those at Coldwell Banker Chicora Real Estate, can show you the best houses for sale in Myrtle Beach, SC.
During your search for homes for sale, one of the important considerations you need to decide on is the number of bedrooms in your home. Will you need several rooms for your big family, or would a two-bedroom home be enough? Will you sacrifice a larger home with four bedrooms for a smaller house in a much better location?
Another issue to consider is the bedroom for the children. It’s easy for children of the same gender to share the same bedroom which gives them many opportunities to bond. However, you’ll have to decide on getting another bedroom when taking to account gender and age differences between or among siblings. Generally, when siblings already enjoy each other’s company with similar interests and hobbies, they can develop even greater emotional connectedness when they share a room.
If you’re planning to buy a second home, consider getting one in a beautiful vacation spot like Myrtle Beach, SC. You can use this vacation home whenever you want to unwind on weekends or holidays, or if not, you can rent it out. Couples, families, or friends on an outing can use your property while on tour in the Myrtle Beach area, and arrange to use the place on a daily, weekly, or even monthly rate.
If such an investment presents great income potential for you, you have to set out to find the right property that you can afford to purchase and maintain. If your budget falls short of a large beachfront property, you can opt for condos for sale in the Myrtle Beach area, which continues to be a location with dynamic and vibrant communities. With condos in Myrtle Beach, you can still have the beach nearby while being in proximity to other tourist destinations. Consider investing in desirable features like spacious rooms and modern amenities.
In late June, 2015, Myrtle Beach officials implemented a “floating zone” downtown—referred to as the south mixed-use area—that will allow real estate developers to suggest projects that don’t necessary fit the current zoning in the area. The officials hope the move will inspire creative, mixed use development in that part of town.
The south-mixed use area begins at First Avenue North and goes all the way to Seventh Avenue North and covers the Atlantic Ocean to Kings Highway in Myrtle Beach. Mixed Use High-Intensity (MU-H) is the current zoning in the area, and allows for commercial and retail developments. “It’s amazing when you go down there and you wander around and see the potential for what it could be,” said John Pedersen, City Manager.
Look back to your childhood. Do you remember running around your neighborhood with a pack of other kids, without care or worry that any harm will come to you? Don’t you want that same feeling for your own kids? When you take the time to find the right community to live in, you’ll find it soon enough.
Places like Myrtle Beach overall, have plenty to offer for children and adults alike. Amusement parks, beaches, amusement rides, and a multitude of attractions and events make real estate in the area an ideal place to raise a young family. MyrtleBeach.com lists a few local sights and sounds where ‘kids from 1 to 92’ can have the space to freely enjoy themselves: