Purchasing Myrtle Beach real estate will in all likelihood will be the largest investment anyone makes in their lifetime. With that in mind, it only makes sense that you ensure that have the best information in order to make the very best decision possible.
Tips to Make Your Myrtle Beach Real Estate Dream A Reality
1. Do your research on the neighborhood. There are certain aspects of the neighborhood you will want to investigate:
- Are there good schools. Even if you are past the age of having children, you will want to consider this aspect for future resale value of the home. High test scores is a good indication that this is a good neighborhood for families.
- Is there convenient shopping? In the Myrtle Beach area you will want to consider traffic patterns and the ease of getting to local grocery and drug stores.
- What is the crime rate of the neighborhood
These are all things that indicate whether the home you are considering is a good Myrtle Beach real estate investment.
2. Hidden assets make your Myrtle Beach real estate investment a wise choice in the long run. Look for homes with good insulation, central heating and air conditioning, and energy-efficient windows. Not only will this improve the resale value of your investment, you will also save on your electric bill over the life of your Myrtle Beach real estate home. By paying a little more now for a home with these enmities, you will save money in the long term.
3. Never settle for less in your Myrtle Beach real estate investment. You want a home that is perfect for you and your family. You have dreamed of what you want in a new home and maybe you have even posted photos of what you want on Pinterest. This is huge decision that you will have to live with for several years to come. This purchase will have an impact on your lifestyle and your future finances. Do not compromise on your dream. If you settle for Myrtle Beach real estate investment that is not exactly what you want in order to speed up the process, you will regret your decision in the long run. Take your time and don’t be pressured into buying a “good deal” when it is not exactly what you want.
4. Factor in your living expenses. If you are currently renting, it is easy to look at the payment of the Myrtle Beach real estate investment and see that it is lower than your rent and assume that it is within your budget. You will also need to consider taxes and insurances that you are not currently paying if you are renting. Also, the utilities will usually run higher on a home than on an apartment or condo rental. Be sure and consider future repairs and upkeep.
You can’t pick up the phone and call the landlord when something goes wrong.
You will need to research the home owner association dues. The majority of homes and condos in the Myrtle Beach area fall under some HOA. You will want to factor these dues into your monthly expenses even if they are due only once a year. What restrictions do they place on your Myrtle Beach real estate investment? Can they assess your property for items that affect the area such as the upkeep of common areas? How much can they assess you? An unexpected assessment can really through a wringer into your budget.
5. What are the prices of other homes in the neighborhood? You don’t want to overpay for your dream home (even if it exactly what you dreamed of!) Ask your Myrtle Beach real estate agent what other homes in the area have sold for recently. You will want to take into consideration additions to the home, such a pool or a hot tub, but the offer you make on the home should be within the price range of others that have sold in the area.
While you are in the market of a new home, you will want to visit open houses frequently. This is a great opportunity to take a look at other Myrtle Beach real estate properties and learn about what makes them a good purchase. This will also give you some great home decorating ideas. The listing agent that is hosting the open house will point out the special features of the property and give you ideas on what to look for in other Myrtle Beach real estate properties.
Purchasing Myrtle Beach real estate is truly a part of the American dream. It is huge investment and something that should not be taken lightly. Selecting the right home that also has the right price can be overwhelming. You will want to work with a Myrtle Beach real estate agent that has your best interest at heart and understands exactly what you need. Take the tips in the article and their great advice and you will soon be living in your Myrtle Beach real estate dream!
Full Potential Real Estate, LLC
Myrtle Beach, SC 29577