Buying a home
in Myrtle Beach.
What you actually need to know.

Yes for the right buyer. It's a genuine buyer's market with 4.5 months of SFH inventory, 103-day average days on market, and sellers accepting offers around 96% of list. Prices are still appreciating year-over-year at around 10.5%. If you're buying to hold as a primary, retirement home, or rental the conditions in 2026 are better than they were in 2020–2022 when buyers were competing in bidding wars.

Not necessarily. We facilitate remote purchases routinely 3D virtual tours, cinematic listing video, neighborhood context walkthroughs over video call, and remote online notarization for closing documents. Most out-of-state buyers we work with visit once for the inspection, then close remotely. Some never visit until after closing. It depends entirely on your comfort level.

A standard condo is a unit in a residential building eligible for conventional, FHA, VA, and DSCR financing if the HOA is warrantable. A condotel is a unit inside a hotel-style building with a front desk, rental program, and shared amenities only eligible for cash or portfolio loans, which significantly limits your buyer pool when you eventually sell. A townhouse is typically a multi-story attached unit with its own entrance usually the most favorable financing and most flexible HOA rules. Knowing which you're buying matters enormously for financing, STR eligibility, and resale.

SC buyers typically pay: lender fees (1–2% of loan amount), title insurance and attorney fees ($800–$1,500), prepaid interest, property tax escrow, homeowner's insurance at closing, and any agreed-upon buyer-side concessions. Total buyer closing costs typically run 2–4% of the purchase price. SC is a mandatory attorney state a licensed SC attorney must conduct the closing. We work with several Grand Strand closing attorneys and can recommend one early in the process.

It depends entirely on the property type, zoning, and HOA rules. Single-family homes in unincorporated Horry County generally allow STR with a permit. Myrtle Beach city limits has stricter restrictions. Most condo HOAs either explicitly allow STR, explicitly prohibit it, or require minimum rental periods of 30 days. Condotels typically allow STR through their rental management program. We verify STR eligibility before you write any offer not during due diligence when you've already committed.

Most Grand Strand properties need up to three policies: homeowner's insurance ($1,200–$4,000/year depending on proximity to water), flood insurance through NFIP ($800–$2,500/year for properties in a flood zone), and sometimes a separate wind/hail policy ($500–$1,500/year). Condo owners typically need an HO-6 policy to cover the interior and their personal liability. Get quotes before closing not after so the numbers are in your budget before you commit.

Request three documents: the most recent reserve study (shows how much money is set aside for major repairs), the current budget (shows monthly income vs. expenses), and the last 12–24 months of meeting minutes (shows any pending or recently approved special assessments). A healthy HOA has a funded reserve ratio above 70% and no pending major litigation or assessments. We review these with every condo offer before you go under contract.

Both have real advantages in this market. New construction (from $270K, average $349K) gives you modern systems, builder warranties, and often incentives like rate buy-downs. Resale lets you negotiate more aggressively with 79% of active listings carrying a price reduction and 103-day average DOM, sellers are motivated. The right answer depends on your timeline, budget, and whether you need immediate rental income (resale) or can wait for delivery (new construction, often 6–12 months out).