Tips for Renting Out Your Myrtle Beach Condo

So you’re buying an oceanfront condo in Myrtle Beach and you want to pay it off fast? If you’re not using it as your permanent residence, why not rent it out to vacationers or long-term tenants? The rent money may not be that much to offset the overall outlay but at least it can help cover the maintenance expenses. If you consider renting out your unit, here are some tips.

Price it right. Your rental rate must not be far from the average of similar condos in your community. If you work with an experienced real estate professional, it would be easier for you to determine the ideal selling price for your property.

Determine your target market. What does your unit have to offer? If it’s the advantage of being located near schools and it has facilities for students (e.g. an extra space for a library), your primary target will be students.

Tidy up. Get rid of all the clutter, repaint the unit, install useful fixtures, polish your floorings and if needed, hire a home inspector to ensure that your unit’s systems are in good condition.

Advertise. List your unit’s features and pitch how each would benefit your target. For online ads, real estate brokers recommend the inclusion of photos, not only of the unit but of the building’s facilities and neighboring establishments as well.

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Make Your Myrtle Beach Home Market-Ready

Relocating to a new town and selling your Myrtle Beach home? Preparing your property means you should view it in a buyer’s perspective. The key: neutrality. Present your house as a place that a prospective buyer can decorate and call his own. Personal touches, therefore, must be minimized or completely avoided.

Neat Landscape

If your property’s curb appeal is substandard, you already lose half the deal. Enhancing curb appeal doesn’t mean you need to do a complete overhaul, though. Cleaning the gutters, mowing the lawn, repairing windows, removing your quirky decorations from the yard, and adding some pretty flowers or shrubs around the house are enough to make it appear livelier.

Clean Paint

Bright orange walls are a bit striking, don’t you think? This time, consider repainting them with lighter-earth tone colors or neutrals such as white, mocha, wheat, light grey, to make it look cleaner. Make your house appear like a canvass to paint on, not some kind of colorful nursery school.

Good Lighting

Realtors are likely to turn on the lights when showing your beach home to potential buyers. If any lighting fixture fails or flickers, it communicates to the buyer that your property is not well-maintained. On the other hand, if your interior is well-lighted, it makes your house appear warmer and welcoming.

Bonus tip: Ask your broker what other parts of the property you should improve because he probably knows what buyers find attractive in a house, selling price aside.

Myrtle Beach Houses for Retirees

Myrtle Beach is one of the best places to retire in the country because of the relaxing vibe the beach gives off, while at the same time promising adventure in every corner. Here are some of the best reasons why you should buy a retirement house at Myrtle Beach.

 

  • Weather – The weather is simply fantastic and mild all year round. The place never gets too cold even during winter, while at summer you can still enjoy the ocean breeze and the fresh cool waters. This is advantageous for people who are too sensitive when it comes to temperature changes.
  • Cost of Living – The cost of living in Myrtle Beach is surprisingly low for a tourist destination. Taxes are affordable, and the food (particularly seafood) are fresh and delectable. Indeed, it’s an ideal place to spend your hard-earned savings.
  • Amenities – Myrtle Beach is sometimes referred to by the locals as the “Golf Capital of the World” due to the hundreds of golf courses in the area. There are also shopping malls and restaurants that you can choose from. Retiring at Myrtle Beach is sure to keep you active and entertained at the same time.

 

Another advantage to choosing Myrtle Beach as a retirement place is because your kids and grandchildren are more likely to visit you for extended periods, especially on long vacations or holidays. They can simply turn their visits into a vacation, which means more time for you to enjoy the sun, sea, and sand with your loved ones.

Putting Up Homes for Sale in Myrtle Beach

Any decision you make involving real estate is bound to be a big one. Selling a home could be more difficult than buying a new one. Aside from having to make your home stand out in a very competitive real estate market, you’ll also have to deal with closing a chapter in your life for good. However, in most cases, putting up your home among other homes for sale on the market is just the only logical option.

Need Fast Cash

When you need cash of considerable amount, selling your home could be the best way there is. Maybe you need the money to fund your move to a new city, or to buy a new house. Before you decide to sell, make sure you make plans to set your house up for proper viewing and you know the right price for the house. Too high and it’s guaranteed to stay in the market longer, and too low will make buyers suspicious.

Long Distance Landlord

Another alternative to earn some money from your home is to rent it. However, if you’re moving far away, you can’t effectively oversee your obligations as a landlord. A rent-to-own arrangement could work where tenants will pay monthly rent to you until the mortgage amount has been fulfilled, but as you are technically still the owner of the place, you need to look after your investment from time to time. Selling your property when you are starting your life elsewhere far away, in this case, will prove a more viable option.

Buying Oceanfront Condos for Sale in Myrtle Beach

There’s no better place to buy oceanfront condos in South Carolina than in Myrtle Beach. This area offers choice condos for sale for those who like to live their dream to stay close to the sea. Condos in high-rise buildings are available for people who value great sea views and the scent of the sea breeze. However, before you troop to Myrtle Beach to buy condos, it’s important to first prepare yourself financially.
1. Stay Within your Budget
Oceanfront condos for sale in Myrtle Beach are among the highly sought-after properties in the city, which means they don’t come cheap. Determine if your income can support paying for the mortgage and other regular miscellaneous expenses like taxes, insurance, and condo association fees, among others.
2. Find a Realtor
Local real estate agents know their communities, and can recommend the best places that will work for you given your budget and preferences. An agent can help you with the paperwork, as well, saving you valuable time and legwork.
3. See it for Yourself
Don’t just settle for the description of floorplans and other details. See the unit for yourself, and ask: Is the unit as functional and livable as it is attractive in the pictures? Take your time and examine the unit at your own pace.
Buying an oceanfront condo can be a worthy investment for you and your family if you prioritize your needs, according to your financial capacity.

Questions to Ask When Buying Condos

Asking questions is a vital part of buying a condo unit. The trick here is determining which questions are the most important to ask. After all, you don’t want to waste a seller’s time by asking questions wherein the answers are already present in the description in the listing. With that in mind, here are a few questions you should definitely ask if you are looking to buy a condo unit in the near future:Read More »