What Does A $100,000 Condo Look Like In Myrtle Beach?
What can I expect from a $100,000 Condo in Myrtle Beach?
Some people think that you have to spend an arm and leg to purchase a nice Condo in Myrtle Beach, and anything priced at, below or just above $100,000 is not going to meet their standards. Well, friends, we are here today to tell you that you would be very wrong if that was your mindset when starting your home search. There are numerous listings for Condos in the Myrtle Beach area that have been remodeled, in great locations and perfect for any family to settle into. Whether you are looking for a new forever home, a second home or to purchase a rental property, a $100,000 Condo in Myrtle Beach is sure to be all that you are looking for – and maybe a little more!
You may be thinking about what you would get for your money and what a $100,000 Condo in Myrtle Beach looks like. And while the units range in size and finishes, there are many stunning units throughout the area that are great finds and feature incredible amenities in lust-worthy locations. Many of these Condos are around one to three bedrooms with one to two baths and offer wonderful living space. You may be surprised by what a Condo in Myrtle Beach at the $100,000 price point looks like and we hope this blog will perk your attention and give you a little insight into these units.
Are Condos that cost $100,000 a good investment?
Absolutely! There are many perks to purchasing a Condo at the $100,000 price point. One of them being that you will have to put less money down up front in comparison to a higher-priced Condo, as well as taking on a lower monthly mortgage. Imagine what you would do with extra money each month that was not going into your mortgage but instead in your own pocket. Oh, the possibilities! You will also be able to pay off the Condo in a shorter amount of time. And with Myrtle Beach such a hot market right now and so many people flocking here to live or just vacation, you can be confident in the value of your purchase.
Many of the Condo’s priced at $100,000 in Myrtle Beach are beautiful and have been fully remodeled. Many units have upgrades including granite countertops in the kitchen and bathrooms and are located in ideal locations. There are some units that are located within a resort and offer amenities such as pools, incredible gyms, indoor lazy rivers and, in some unique cases, even a bowling alley! There are many amazing features that make these units even more appealing and offer endless fun for the whole family! And how would you like to wake up overlooking the pools with sparkling ocean views? There are units at the $100,000 price point that have incredible views and are centrally located near incredible dining, shopping and entertainment options for the family.
Do Condos that cost $100,000 make for good rental properties?
They don’t just make good rental properties – they make incredible rental properties! For a couple of reasons. The first reason may be a little obvious and one we just spoke about, but buyers do not have to break the bank to purchase Condo. Purchasing a Condo around the $100,000 price point allows less barrier to entry in the rental property space, as you do not have to put a lot of money down. Your mortgage should also be relatively low compared to higher-priced Condos in Myrtle Beach, making it easier to cover it every month with renters.
Another reason $100,000 Condos in the area are a good investment is that they are low maintenance. Many of the Condo’s are not incredibly large, therefore the upkeep and cleaning are not overbearing or too tedious, which is great if you are to have different visitors each week. And if the Condo has an HOA (Homeowners Association), most of the time those fees will go to cover maintenance of the building such as common spaces, pools, and landscaping, as well as insurance on the building. Income cases, cable, and internet are included as well. This is a huge bonus because you will not have to worry about maintenance if you are not in town.
For more information on HOA’s in Myrtle Beach, check out our other blog posts here.
To help maximize the unit as a rental property, you can utilize pull out sofa beds or even wall beds to sleep larger families. This is a great and relatively inexpensive way to accommodate parties of all sizes, while also broadening the reach of potential renters. It is also a great way to save space while also providing additional lodging, which is very appealing to people looking to rent the unit. We have seen beautiful, smaller one-bedroom units that can sleep up to eight people. And when you are that close to the stunning beaches of Myrtle Beach, let’s be honest – many people probably won’t be spending much time indoors anyway!
With Myrtle Beach being such a sought after area for people around the country, buyers should not have a problem with renting the Condo out. Being a desirable location here is so much demand with visitors to the area that need a place to stay, and many like the comfort of being able to settle into a Condo that features a kitchen, upgrades and utilize the amenities – especially if they are staying for long periods of time. With spring and summer not too far off, now is a great time to start looking into these Condo’s as rental properties to get a jump start and be prepared for the busy season.
Lastly, let’s talk about everyone’s favorite part – potential rental income! Our team at Jerry Pinkas Reality has seen some of these incredible units bring in over $32,000 per year in rental income. Incredible right?! Needless to say, utilizing these units priced at $100,000 as rental properties have the potential to bring in great revenue for you and your family, and can be a money machine for people at a relatively low initial cost.
What should be my first step if I am interested in purchasing a Condo around $100,000 in Myrtle Beach?
Call us directly! Many people’s first instinct is to go online and plug in certain search criteria and hope that their dream home will appear on their screen. We hate to be the bearer of bad news, but that method does not always work. There are many incredible listings for Condos priced right around $100,000 in Myrtle Beach that any family would be lucky to close on, but maybe aren’t listed on the internet or are not easily assessable online. Let us take the hard work, research and guessing off your plate. Call our experienced team at Jerry Pinkas Realty today and let us help you find your perfect $100,000 Condo today!
You have questions, we have answers. Give us a call at 843-839-9870
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