What if you could find a great place to vacation and have that place pay for its self? A Myrtle Beach condo offers great vacation amenities such as pools both indoor and outdoor, fountains and even mini water parks. All of this with an oceanfront view where you can relax from the daily grind of life and enjoy. Many condos offer game rooms for the kids and an oceanfront condo is near activities for every member of the family.
What is my investment in a Myrtle Beach Condo?
Over the past few years the overall real estate market has been decreasing while sales of condos have remained strong. During this time the rental of these properties has also remained strong.
What many people are unaware of is that there is a wide range of prices for Myrtle Beach condos starting at $40,000. Many people ask us what causes the big price differences in units in the same complex? The main reason is the upgrades between the units. One condo may have the original appliances and carpeted floors while another condo has tile floors and upgraded appliances. Working with a Myrtle Beach real estate agent that is willing to negotiate with the seller can be the key to getting your dream vacation condo at a bargain price.
The other consideration that attributes to the price of a condo is location. Let’s take a close look at your alternatives.
Level 1 – Myrtle Beach Condos For Sale Across The Street
This is where you will find your real bargains and still be close to all the fun and have a condo investment you can rent when you are not on vacation. The condos that you can pick up in the $40,000 range will be a one bedroom condo with a kitchen. Two bedroom condos with amenities will range in the $99,000 and up range.
In addition to a lower cost these condos will also have lower home owners dues. You will want to thoroughly examine these condos as they are usually older buildings which can have other problems such as mold or weak foundations. You will also sacrifice the oceanfront view with these units. If you enjoy fixing up a unit and adding your own touches this may be a great buy. Always work with a real estate agent that knows the area and can give you a heads up on any potential problems.
Level 2 – Condos With an Ocean View
Ocean view condos usually have both a view of the ocean and a view of the street. If you love to people watch and wake up to the sound of the ocean breeze this is the condo for you. These condos can still be very affordable depending on what you need. A one bedroom with a kitchen can be as low as $55,000 while a two bedroom will start at $110,000. Amenities, location on the beach and on-site features will affect the overall price. If the primary purchase for purchasing a Myrtle Beach condo is for an investment, then this is the route you will want to take. These are the more popular condos when it comes to not only the price you can get for the rental but also renting for a more months of the year.
Level 3 – Angle Oceanfront View
Just as the name implies, these condos offer an angle view of the ocean with a side balcony. You still get the sound of the ocean and a great ocean breeze but you are not directly in front of the beach. You can expect to pay a starting price of $57,000 for a one bedroom with a kitchen and small living area. A 2 bedroom would start around $110,000. The price difference between Level 2 and Level 3 is not that great and something to consider when shopping for your condo.
Level 4 – Direct Ocean View Condos
This is the most sought after in Myrtle Beach condos for sale. Nothing compares to an oceanfront view and it is the most in demand for vacation rentals. Think you can’t afford an oceanfront condo? Take a look at an efficiency condo. This is a condo with an open floor plan with a small kitchenette. These units start at $60,000. You will pay approximately $15,000 more for a one bedroom and two bedrooms will start at $139,000. Direct oceanfront condos will have a balcony where you can enjoy the view. Because these units demand a higher rental price you can expect to get a good return on your investment.
Always use a real estate agent that knows the area and can document your return on investment. The market is heating up and so is summer fun! Now is the time to make your investment in a Myrtle Beach condo.
The Jerry Pinkas Team knows all about Myrtle Beach Oceanfront Condos. If you feel that you still have questions or would like to know more information about condos for sale in Myrtle Beach, feel free to contact us at The Jerry Pinkas Team Office: 843-839-9870. We are knowledgeable in real estate investing and strive to give our clients the best service possible. When you talk to a member of the Jerry Pinkas Real Estate Team, you are talking to a friendly, smart, and successful real estate agent. We look forward to talking to our future Myrtle Beach real estate clients.
Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577