These are some of the frequent questions that we hear.
Is it less expensive to buy a resale or build?
In general we expect buying a resale to be less expensive. Code requirements and cost of building tend to get more expensive over time which makes resales more budget friendly. However, the maintenance expense of a new home should be less expensive.
What are the property taxes on this property?
Property taxes are calculated based on the county's appraisal value. That number multiplied by the assessment rate and then multiplied by the millage will give your property's rate. Several factors will determine that value (Example: Permanent residence vs. Secondary residence).
How long does it take to build a home?
Depending on the scope of the home (size, features, regulations, etc) new construction usually takes 4 to 6 months. However, conditions in the labor market, weather, product availability and the aforementioned scope of the home could push a project much longer.
Where can I find affordable homes around the Myrtle Beach area?
As with any product, this is controlled by supply and demand. Therefore, the closer the property is to the beach, the higher the price is going to be on a similar quality home in a similar community. Therefore, the best price per SQFT will likely be to look into areas on the outskirts such as Conway, Little River, Longs, etc.
Why do so many communities in Myrtle Beach have HOA's (Home Owners Associations)?
One of the main reasons is that planned communities have HOA's is to protect property value of the owners. The presiding feeling is that keeping regulations on the properties will keep all properties to a standard where that no one is hurting their neighboring properties. Further, the marketability of a community is often predicated on things such as street lighting, ponds, club houses, etc. These things cost money and the property owners pay for the expenses through assessments and/or dues collected through the HOA.
How much does it cost to build per square foot?
This question is impossible to answer accurately without a series of follow up questions. Important details include: where is the home being built, what specifications are to be included, what is the style of the house, what is the size of the house, etc. We have a blog related to getting a more accurate answer to that question from builders.
What Is a CMA?
A CMA is a comparative market analysis. With information regarding recently closed real estate within a close proximity of the subject property, an estimate of the current value can be derived. The closer the specifications of the comparative property to the subject property, the more accurate the analysis will be.