CATCH THE WAVE

Myrtle Beach Real Estate

We Specialize in Myrtle Beach, SC Real Estate. Lots of options are waiting for you in Myrtle Beach, South Carolina and choosing the right realtors can help you in finding the perfect area and the right home for you and your family and make your dream a reality!  Let us help you in making one of the biggest, if not the biggest, decisions in your life.   

We were both born and raised along the Grand Strand and know the entire Horry County, so no matter what style of home you are looking for or what area you prefer, we can help you!  Please give us a call and let us help you make your dream a reality!  843-222-8566.

Eddie & Julie Boyd - The Boyd Team - Realtors - Myrtle Beach Real Estate - BRG - Beach Realty Group

           

Sept. 24, 2022

How Do Rising Interest Rates Affect the Housing Market?

How Do Rising Interest Rates Affect the Housing Market?

 

The current economic environment that we live in is all over the place. From high inflation to record gas prices, there are a lot of things going on in the economy that affect how much money Americans have left in their pockets at the end of the day. The stock market is fluctuating more than normal, grocery prices are skyrocketing, and life just seems like it costs more these days.

 

Alas, life must go on! The Federal Reserve is trying to do whatever they can to reign in the inflation and the rising prices. One of the best tools at their disposal is to change the interest rate. Interest rates affect all sorts of borrowing, both between businesses and individuals. One part of the economy that will always exist is the housing market. After all, people will always need a place to live! The housing market is one of the most important sectors of the economy, as it directly affects everyone. This post is going to dive into how the changing interest rates affect the housing market, both for sellers and for buyers, and what you can do to make the most of the situation in either case.

 

brown and white concrete house under blue sky during daytime

 

How Do Interest Rates Affect Home Buyers?

 

·      You Qualify for a Lower Maximum Principal Amount

 

One of the biggest impacts that rising interest rates have on home buyers is that the maximum principal amount of their mortgage decreases. This is because banks use formulas to calculate how much money they will loan buyers based off of the buyer’s income and the resulting monthly payments. Lenders will only allow a buyer’s monthly payment to be a certain percentage of their monthly income, so as interest rates rise, payments need to stay relatively the same. This means that the principal amount must decrease in order for the math to check out.

 

How does this look in action? Here is a simplified view. We will pretend that amortization does not exist and principal and interest remain flat throughout the life of the mortgage. With an interest rate of 5% and a monthly payment of $2,000, you would be paying $1,900 of principal and $100 of interest. If the interest rate rises to 10%, but your income remains the same, your payment would need to stay $2,000, but you would be paying $1,800 of principal and $200 of interest. This would mean that over the course of a 30-year mortgage, you would now only be paying $648,000 instead of $684,000, lowering the maximum principal the bank would loan you by almost $40,000.

 

·      You May not Find Homes that You Can Afford

 

This point is a direct result of the first one. As banks will loan buyers less money when the interest rates are higher, buyers will likely have a harder time finding homes that they can afford. If your maximum spending limit decreases, you are naturally priced out of a portion of the market. While the effects are usually not as drastic as the example above, they do exist and can make a difference for any buyer in the home buying market. There are other factors in play that could eventually bring the market into equilibrium and lower prices, but in the short-term many buyers likely remain priced out of what would have been the higher end of their budgets.

 

·      Rent Might Increase Faster than Mortgage Payments

 

When buyers realize that interest rates are suddenly very high, many decide to just rent for the time being until the interest rates drop back down to a more reasonable level. After all, interest rates tend to fluctuate quite a bit, and banking on the rates to fall at some point in the relatively near future is usually a safe bet. While this strategy has some merit, buyers should double check that rent is not rising faster than the cost to borrow a mortgage. If rents are increasing 15-20% year over year, you would actually save money to take out a mortgage at a high interest rate now rather than paying higher rent and waiting for a lower interest rate. If rent remains somewhat stagnant in the area where a buyer is looking to buy a home, then renting may be a preferable option.

 

How Do Interest Rates Affect Home Sellers

 

·      There Might Be Fewer Interested Buyers

 

Stemming off of the point above, many buyers may simply choose to hold out until interest rates drop again. Some buyers are not in much control over their situation, as they need to buy a home in the near future regardless of market dynamics. If your family is set to expand soon or you are being forced to relocate because of a job, you may not have much wiggle room. However, as borrowing at an unfavorable rate is not preferable in most situations, buyers that are in no hurry to purchase a home will simply sit back and wait for the situation to change. Interest rates tend to fluctuate quite a bit, and these buyers are often more than happy to wait for a better environment to buy a house in. This can decrease the demand for houses strongly.

 

·      You May Have to Lower the Price of Your Home

 

This point is a direct result of the first point. If demand falls, sellers usually have two options: reduce their asking price or wait it out. It is likely that buyers will have reduced desire or capacity to buy a home while interest rates are high, so sellers may need to either wait for demand to increase or agree on a lower price with an interested buyer who currently has a reduced capacity to pay. Neither of these are preferable, but sellers who are in a hurry to close a sale on their home might be left with no other choice than to accept less than they desire. While some sellers may opt to hold onto their house until interest rates fall and home prices rebound, this could take years and is not a safe outcome to base your decisions on. If anything, it is more of a gamble.

 

·      You May Struggle Finding a Home to Buy

 

Just as other homebuyers may experience decreased capacity to pay, sellers may feel a similar squeeze. If a seller is forced to accept less for their house than they desired, they may then also be forced to purchase a home that is cheaper than they would have initially desired. While price is not always an indicator of quality, this usually means a house that is either smaller, older, or located in a less convenient place than the alternative would have been if their budget had remained the same. The squeeze affects all sides of the market until equilibrium is reached, and this equilibrium is unlikely to occur in the short-term.

 

brown and white concrete house near green trees under blue sky during daytime

What Can Home Buyers Do to Capitalize on High Interest Rates?

 

·      Find a Good Realtor

 

First and foremost, the best thing that a home buyer can do in any market environment is find a high-quality realtor to help them through the process. Buying a house is not like changing a tire. There is more than one way to go about it, and you will always strike a better deal if you have a professional advocating for you through the process. Local realtors know the specific market dynamics of the area where you hope to buy a home, and their expertise can prove to be invaluable. From helping you to select the right house to helping you determine a fair value to pay, realtors usually help you to both select the right house and not overpay for it.

 

We at the Boyd Team operate in the Grand Strand area of South Carolina, and we can’t even begin to tell you how grateful our clients are that they decided to work with us. From knowledge about seasonal weather patterns, to expectations about insurance, to the inside scoop on neighborhoods, builders, schools, and more, our expertise has been invaluable to our clients. Regardless of where you are moving, getting in touch with a top-tier realtor in the area is one of the best decisions that you can make.

 

·      Strengthen Your Financial Background to Have an Advantage over Other Buyers

 

We mentioned earlier that a common strategy is to wait it out until interest rates decrease. If you decide to do this (or even if you decide to still purchase in the short-term), one of the best things that you can do before buying a home is get your finances in order. From paying down pre-existing debts to saving up extra money for a down payment, strengthening your current financial position is one of the best things that you can do before you buy a home. Making a higher down payment reduces the total amount of interest you will pay throughout the life of the loan, and paying down other debts can help your credit score to rise, which could lower the interest rate that the mortgage lender offers you.

 

·      Get Pre-approved for a Mortgage from a Mortgage Lender

 

At a more transactional level, one of the best things that you can do before buying a home – especially when interest rates are on the rise – is get pre-approved for a mortgage. This pre-approval both helps you to understand how much you can spend on a house and shows to sellers that you can get the funding necessary to purchase a their house. Getting pre-approved for a mortgage is a great idea in any scenario, as it helps the process to flow more easily. If you are not pre-approved, you can lose out to another buyer who is. On top of that, you never want to waste time looking at houses that you can’t actually afford. Getting pre-approved can help you better calibrate your home search before you start attending tours and open houses.

 

What Can Home Sellers Do to Capitalize on High Interest Rates?

 

·      Look to Sell Now while Values and Demand are High

 

While everyone’s situation is different and there are certainly people who should not look to do this, one of the best things that home sellers can do to capitalize on the current market dynamic is to act quickly. Normally when interest rates rise, home prices fall. This is because the demand is restricted by the higher interest rates, and prices will fall accordingly until demand picks back up.

 

The current market environment is a bit different, though, as the pandemic created an above average surge in demand. Even though home prices have fallen from their peaks and interest rates have risen, there is still a good degree of pent-up demand. In addition, homebuilders are still having a tough time with supply chain squeezes, which is decreasing the overall supply of new homes. As new home supply stays limited, demand for pre-owned homes will remain elevated. Selling quickly while the demand remains elevated could help you to get the most for your home before the prices fall.

 

·      Be Ready to Accept Less if You Can’t Sell Immediately

 

We mentioned this in the section above, but it needs to be reiterated here. What happens in the housing market is entirely out of your control, and there is very little you can do to evade it. If housing prices are going to fall, they are going to fall. Houses are investments, after all, and the value of any investment can rise or fall. While the strategy of just holding onto the home until prices rise again is great in theory, not everyone is able or willing to stay put in their home for five more years with their fingers crossed in hopes of the market rebounding. After all, that is a long time to wait to gamble on the value of your home. If you aren’t able to offload your house immediately, you should mentally prepare that you might get less that you desire when finally finding a buyer and agreeing to terms on the sale.

 

·      Consider Renting between Selling and Buying

 

If the only reason that you are unable to sell in the short-term is because you are unable to move into a new home in the short-term (i.e. you are having one built or are waiting for another home to be vacated), you may consider selling your home now, moving into a rental home in the interim, and then moving into your next home when it is ready or the time is right. This could help you to get the highest selling price for your current house without needing to compromise on the house that you subsequently purchase.

 

If you consider this route, it is definitely best to consult with either a realtor or a financial advisor, as this strategy is only advantageous in a select few circumstances. For example, if you are having a new house built and it won’t be ready for a full year, you might consider selling now and moving into a rental home for the next year. However, if your new home is going to be ready in just three or four months, this strategy may be more hassle and strain than it is worth. Additionally, it might not even save you that much money, if any at all, if your plans are all in the relatively short-term or the distant long-term.

 

white and red house

 

That is all we have for you about how rising interest rates affect the housing market! Understanding the economic factors driving housing prices can be difficult, and we hope that this post provided you with some clarity about what is happening and what you can do about it. While you will never be able to control the economy, you can certainly take steps to reap the benefits or avoid the potential disasters that exist in the current economic ecosystem. As always, contacting a good realtor should be the first step in any home buying considerations, as nobody will understand the current dynamics of the market as well as them.

If you decide to visit Myrtle Beach or any other place in South Carolina and fall in love, reach out to us for help. We at The Boyd Team are always here to help you figure out whether Myrtle Beach is your next home or not, and we are committed to helping you find the right property for your needs and dreams. Any question that you have about moving to the area and finding your dream home by the beach is our pleasure to answer. Feel free to send us an email at eddie@boydteam.com or text or call us at (843) 222-8566, and we will get back to you as soon as we can. Being true natives of the Grand Strand and Horry County and with over 25 years of experience in the local real estate market, whether buying or selling, we can help you make your dreams a reality.  

No One Knows The Grand Strand Better! Trust, Knowledge, Experience, Professionalism, You Can Count On!

Posted in BoydTeam Blog
Sept. 17, 2022

Qualities to Look for in a House after Retiring

Qualities to Look for in a House after Retiring

 

If you are approaching retirement, the first thing we ought to say is congratulations. You have spent the majority of your life working hard, and it is finally time to relax! Achieving retirement is no small accomplishment, and you should take a second and give yourself a pat on the back for all of your hard work and sacrifices.

 

By the time most people reach retirement age, they have already purchased a house at some point in their lives. In fact, there is a good chance that the majority of people that read this post currently own a home! Luckily, this post is relevant to every retiring person that is looking to buy a home, regardless of whether or not they currently own one.

 

When you shop for a home to live in during your retirement years, there is a lot to consider beyond just the finances. For that reason, this post is not going to touch on the financial aspects of homebuying whatsoever. Instead, this post will dive more fully into the characteristics of the house that you should look for, so that you can wind up living in the most ideal house throughout your time as a retiree. From tangible aspects of the house itself to the location of the house within its community, this post is going to lay it all out for you so that you can make the most informed decision possible.

 

Should You Buy a New Home in Retirement?

 

Before diving into the specifics to look for in a retirement home, there is a bigger question that lingers; should you buy a new home at the beginning of retirement at all? After all, you have likely lived in your current home for a while. Is it worth the stress and time to move into a new home when you are already comfortable and established in your current house?

 

The answer to this question varies by person, but generally the answer is yes. It is absolutely worth the time and effort to move into a new home.

 

As you shift into retirement, it is likely that this is your first time without any major commitments tying you to your current home. As you no longer need to work, you no longer need to commute to an office. If you do not need to commute, you do not need to live anywhere near where your old office was! This is usually the biggest reason that people live in a particular place, and this newfound freedom may allow you to live in whatever part of the country or world that you would like.

 

For some people, this may make no difference. If you are content where you are, then there is no need to move. There should never be any pressure to do so. However, if you are craving warmer weather, closer proximity to family, or simply a change of pace, you now have the freedom to go get it.

 

If you are thinking about moving, it is worth strongly considering. The stress of moving only occurs once, and it is all over before you know it. Fearing packing things up and loading them into a truck should not be enough of a concern to deter you from moving, as you will likely be able to live in your new home for many years to come! The stress of a few months should not outweigh the joy that can be had over the course of several years, especially if that joy is found in a place that you would prefer living in over your current area.

 

Qualities to Look for in a House after Retiring

 

 

1.     A floorplan that is appealing to you both now and in 20 years

 brown wooden door near white wall

 

One of the most important things to consider in a house that you buy for retirement is its floorplan. While you may or may not be experiencing any physical limitations at your current age, it is likely that you eventually will. We are only human, after all! When looking at homes, it is often a great idea to look mainly at single-story houses. Even if you have no issues with stairs now, you will likely never regret choosing a single-story house as your retirement home.

 

The number of floors is not the only thing to consider about the floorplan. Larger bathrooms and bedrooms and smaller living rooms are common in retirement homes, as many retirees find that these layouts best appeal to their lifestyles. Whatever your lifestyle may be, it is a good idea that you consider how it may adapt or change over the next 10-20 years and beyond.

 

2.     A yard that provides you freedom without too much maintenance

 

 time lapse photography of incense smoke on pot

 

In retirement, there is a strong chance that your lawn will provide you with some of your favorite hobbies and memories. Many retirees love to practice gardening, and if you intend to garden, you will certainly want a yard big enough to dig one. On top of that, your yard is also a place that any grandchildren you have will likely love to play, and if you have pets, this will be their favorite kingdom. It makes sense to want a nice, big yard!

 

With that being said, you want to make sure that your yard is manageable. Taking care of a large yard can be strenuous and expensive, and retirees often opt for smaller yards to make their lives a bit easier. Finding a house with a yard that is just big enough for your hobbies and grandchildren but not too big to take care of may sound like an ambitious goal, but it is certainly attainable. You will be grateful that you took the time to look for a smaller yard when your first summer rolls around and you are responsible for mowing the grass!

 

3.     Proximity to your hobbies and other places that you frequent

 

two women and man walking in the street during daytime

 

Newsflash: when you retire, you gain a lot of free time. You probably will not have had this much free time since you were in high school or college! You will likely start investing time and resources in many of your hobbies and passions, and being located near the places that you visit often will save a lot of time and money down the line.

 

While you will likely develop new hobbies and passions as you get deeper into retirement, finding a home that is near some of the things and places that you love will make practicing your hobbies even easier, which is incredibly valuable as a retiree. Just because you have more time doesn’t mean it should be wasted!

 

4.     A manageable amount of square footage

 

gray fabric loveseat near brown wooden table

 

There was probably a time in your life when you dreamed of owning the biggest possible home. Who wouldn’t love the sound of a pool, a big yard with a fence, and five bedrooms? Very few peoples’ dream homes are small! However, as you shift into retirement, it may be time to look at smaller homes. There are probably no more than one or two people living in your household, and having a bunch of excess space is unnecessary once you retire.

 

If anything, it is just more space that you need to keep clean, pay taxes on, and furnish, and you probably will hardly use it, if at all. Opting for a smaller home enables you to live more simply and spend time doing the things you love, all while saving a nice chunk of change.

 

5.     Whether or not the house is in a retirement community

 

two men playing chess 

 

As you probably know, there are thousands of housing developments that exist specifically for people above a certain age. This age limit usually ranges from 50 to 60, but could be lower or higher depending on the community. These communities often operate just like standard housing developments, except that all residents are in a similar chapter of life. This focus helps everyone to live a more mellow life in retirement, as there are rarely noisy neighbors and messy lawns.

 

Another key benefit of living in a retirement community is that these communities often host gatherings and social events for their residents. If you enjoy playing cards, bingo, or other similar games, you might enjoy the social aspects that a retirement community can offer. This can be especially useful if you are moving into a new area and do not know many people.

 

6.     Safety of the neighborhood that the house is located in

red and white x logo

 

While safety matters at all stages of life, safety is particularly important when you are a retiree. Unfortunately, retirees are often seen as some of the easiest targets for property crimes, and moving into a less safe area could put you at increased risk above many other people living there. Taking the time to thoroughly vet an area or neighborhood before buying a house in it is important at every stage of life, but it can be even more beneficial if you are searching for a retirement home.

 

7.     Accessible features already installed in the home

 

brown and beige welcome area rug

 

When buying a home for retirement, it is wise to consider the long-term aspects of the house. While a house might fit you and your lifestyle now, you should consider what your needs will look like in the next ten, twenty, or even thirty years. Many accessible renovations can be very costly, and it is often a good idea to think about them before you buy a house to begin with.

 

These accessible traits that you should keep an eye out are broad reaching, but there are a few main ones to consider. Stepless entryways into the house, wide hallways and doorways, and step-in showers are several great examples!

 

8.     Proximity to friends and family

 

people standing on shore during golden hour

 

One of the biggest factors that causes people to move when they enter retirement is proximity to friends and family. If you have any children or grandchildren, it is likely that you want to live as close to them as possible. Your job may have required you to live in a different area than your loved ones, but retirement frees you of that geographic restriction.

 

If you decide to move closer to family, you should talk to those relative about what your future situation should look like. Some retirees like being daily babysitters for their grandchildren, while others would prefer to see their grandchildren less frequently than that. Similarly, some adult-aged children might not want their parents living just five minutes down the road! Either way, it is a good idea to talk to your loved ones about desires and expectations before you buy a home so that everyone is on the same page.

 

9.     A climate that favors your lifestyle

 

silhouette of 3 men and woman standing on beach during sunset

 

We have already mentioned a couple of times that retirement often unlocks full geographic mobility due to no longer needing to work in an office. If you are thinking of moving to a new area, it is a good idea to consider the climate before you move there. The climate is about a lot more than just how hot it gets in the summer, and you will want to think about every angle of how the new location could affect you and your lifestyle.

 

What do we mean by that? Well, a prime example is the difference between Florida and Arizona. Both states have very warm weather, and in that way could be seen as similar. Both states will have temperatures above 90 degrees for most of the summer. The difference, though, is that Arizona has a dry heat and very little rain while Florida has a humid heat with a lot of rain, on average. Air that contains more humidity is easier to breathe, and is usually seen as preferable to dry air for retirees. If you are an active walker, hiker, or jogger, you might want that humidity even more, as being active in the desert of Arizona can be very difficult. Similarly, if you are a gardener, you may not want to move to a state that is so hot, as your plants may do better in a state like South Carolina.

 

10.  Proximity to parks and walking paths

 

brown wooden pathway between green grass and trees during daytime

 

This point ties in very similarly to the previous one. While you want to make sure that your house is located in a geographical area with a climate that suits your activity level, it is also a great idea to make sure that the house itself is located near convenient walking paths, parks, and other outdoor activities. Staying active through retirement is advice that pretty much every doctor gives, and this is much easier to do when you don’t need to hop into your car. Convenient access to walking paths, pickleball courts, and other outdoor spaces makes staying healthy easier, and this will likely become increasingly valuable as time goes on and you find yourself deeper in retirement.

 

That is all we have for you about what qualities to look for in a house after you retire. Buying a house at the start of retirement is a big decision, but it is one that most people do not regret – especially if they are able to sell their current house in order to finance the new one. There are many great reasons to move into a new home at retirement, and it is likely that you will need to move at some point, anyway, for either health or economic reasons. Getting ahead of that curve and moving at the beginning of retirement helps to eliminate the stress and time requirements later in life while also putting you in a more preferred position in the present. After all, now that you will not be working, it is really important that you enjoy the house and area that you are in. You are about to have a lot more free time! Finding a house that enables you to express yourself through your passions – whether they are fishing, tennis, playing with your grandchildren, or something else – will likely provide you with unquantifiable happiness, and this is what makes finding the right house at the beginning of retirement so important.

If you decide to visit Myrtle Beach or any other place in South Carolina and fall in love, reach out to us for help. We at The Boyd Team are always here to help you figure out whether Myrtle Beach is your next home or not, and we are committed to helping you find the right property for your needs and dreams. Any question that you have about moving to the area and finding your dream home by the beach is our pleasure to answer. Feel free to send us an email at eddie@boydteam.com or text or call us at (843) 222-8566, and we will get back to you as soon as we can. Being true natives of the Grand Strand and Horry County and with over 25 years of experience in the local real estate market, whether buying or selling, we can help you make your dreams a reality.  

No One Knows The Grand Strand Better! Trust, Knowledge, Experience, Professionalism, You Can Count On!

Written by Greg

 

Posted in BoydTeam Blog
Sept. 10, 2022

Things Pet Owners Should Do Before Selling Their Home

brown short coated dog on gray couch

 

 

Getting ready to sell your home is often as stressful as it is exciting. From packing up your things to worrying about getting the house ready for showings, there is a lot that goes into getting ready to sell your house. Whether you have children or pets or not, this process can be challenging and time-consuming, and it is certainly a bump in the road to your new life in your new home.

 

While pets are nowhere near as challenging as children, they still present some further hurdles when it comes to packing up your home and getting it ready to be sold. While is often said that a dog is a man’s best friend, you might not feel that way while you try to get all of the stains, scratches, and odors out of your house before you list it to be sold! If you know anyone with a big dog that has tried to sell their home, they will likely agree. Dogs do a lot of damage to a home, and most people try to patch up that damage before they sell their home.

 

While they add complications here and there, these reasons are hardly reasons to not get a pet. There will undoubtedly be some extra work when it comes to moving in and moving out, but this extra work is nothing compared to the memories that can be made during the time that you are living in the house. Dogs are playful, fun, obedient animals that add a whole new layer to your family dynamic. While dogs are great pets, we think that they are not the only animals that can be your best friend! Many people will proudly claim that cats, hamsters, snakes, ferrets, and fish can be man’s best friend, too! There is no limit to how much people can love their pets, and every pet owner is called to raise a different kind of animal.

 

Regardless of what kind of pet you have, the effect stays the same to some degree; selling your home as a pet owner is slightly more involved than selling your home if you do not have pets. While the cleanup for pets is in some ways easier than the cleanup for children, it still is not easy! This post is going to take a look at some of the biggest things you can do before selling your house as a pet owner, both to increase your home’s value and its final selling price. Doing some of these things could leave you with more money in your pockets at the end of the day, and much less stress along the way. On the flipside, buying a home as a pet owner can be a very tricky process, and there is a lot more to consider on that end. If you are a pet owner that also needs to find a new home, be sure to check out this blog post that we wrote on buying a home as a pet owner.

 

Why Should Pet Owners Do Anything Special When Selling Their Home?

 

As a pet owner, you might see pet ownership as an advantage when trying to sell your home. You know that your house is specially equipped to provide a home to pets, and you have personal experience that can attest to this! Many prospective homebuyers are looking for a safe place to live with their pets, just like you probably are looking for a safe place to move with them. In some ways, this could be seen as an advantage, as you can personally show that the house is a nice place for pets to live. For some people, this might be an effective sales strategy!

However, the vast majority of buyers do not want to buy a house that has had pets living in it. Many people see pet ownership as a negative when shopping for a new home, and it is usually advised that you do all that you can to conceal the fact that pets have lived in your home for the past several years. This post is going to focus largely on the things that you can do to conceal the fact that pets have been living in your home, in order to appeal to a larger number of buyers. Everything in this post is just meant to be taken as suggestions that can leave you with a cleaner, purified house to sell, and this post is in no way meant to encourage lying about pet ownership. It is very important when selling your house that you are perfectly honest and transparent with prospective buyers. However, if you do a good enough job with the steps outline below, they might never even ask or know otherwise!

 

 

What Things Should Pet Owners Do Before Selling Their Home?

 

1.     Remove every trace of pets from the house and its sale

 

black and white miniature schnauzer

 

The first things to understand when selling your house as a pet owner is that you should do all that you can to conceal the fact that you are a pet owner. This does not mean that you should lie, as you should always be fully honest and transparent when selling your home. However, doing all that you can to make it appear as if your home has not hosted pets can only help you when trying to sell it. Most buyers do not want to buy houses that have hosted pets, because they know the damage that pets do to a home. As a pet owner, you probably know this too! Face it – knowing that someone else’s dog spent years having accidents all over the carpet is not the most appetizing though when seeing a new home. If the owner does a good enough job to clean up, though, this thought might never cross your mind as a buyer.

 

As a seller, your goal should be to make your house so clean that buyers don’t even think about pets. While you probably love your dog a lot, not everyone loves pets. In fact, the majority of people buying a home do not want to buy a home that has been lived in by pets. While a certain segment of the homebuying market likely would love to hear about Lucky and all of your memories with him, the majority of people would rather assume that the house was pet-free. If asked, you should never lie about having had pets. However, if you do a good enough cleanup job, some prospective buyers might never ask at all.

 

2.     Repair all pet damage to the house

 

green potted leaf plant beside white wooden door

 

These next four points all tie into the first one. It is important to remove all traces of your pets from the house, but how exactly do you do that? The first is to repair all damages that your pet caused to both the interior and the exterior of the house. The most visible signs of pet ownership tend to come in the form of stains, scratches, and dents. You may not even notice many of these things, as you see them daily and get accustomed to them. However, when prospective buyers come to see your home, they will notice the scratches on the wall and the stains on the living room carpet pretty quickly. These are the most obvious things that you should make an effort to repair.

 

On top of just these obvious ones, you should also try to undo any other small modifications to the home that show that you had pets. If you have a removable doggy door, a doghouse, a pole in the yard to leash your dog to, or other similar things, it’s often best to remove them before showing the house to prospective buyers. Some fixtures are more permanent, and you shouldn’t spend a lot of money trying to get rid of these things, but making an attempt to get rid of the easier things is usually a good idea. Before doing anything major, discuss it with your realtor.

 

3.     Deodorize every room and space in the house

 

person holding white ceramic mug

 

Making visual repairs is very important, but it only takes care of one sense. Pets leave traces that trigger more than just the sense of sight! While you may have gotten accustomed to the odor of your pet, most prospective buyers probably have not. Deodorizing your home is one of the most important things that you can do before showing it to prospective buyers. Regardless of how often you clean them, pets always carry some sort of odor with them, and this scent is not the first impression that you want prospective buyers to have of your home.

 

When you are deodorizing your home, there are a lot of different aspects to consider. You should wash all clothes, sheets, and removable furniture covers, shampoo the carpets, steam the furniture and drapes, and replace your HVAC filters that are likely housing pet hair and dander. You could use air fresheners, but its recommended that you only use them in addition cleaning the things that we listed above, as air fresheners often just make dirty, smelly air feel even heavier. You should focus on cleaning the air itself before making it smell like fresh linens. After all, if you use a fresh linen air freshener in a house filled with dog dander, it will just make the house smell like a dog sitting on top of freshly washed sheets – not exactly the solution to your problem.

 

4.     Ensure all pet hair and dander has been cleaned up and removed from the house

 

 

Pet hair can be a major deterrent for prospective homebuyers, as it works its way into all of the nooks and crannies in the house. In a way, dog and cat hairs are like cockroaches; if you see one, there are likely countless others hiding in the cracks. Vacuuming all of the dog and cat hair off of the couch is a start, but moving all of the furniture, vacuuming behind appliances, and vacuuming under rugs is just as important. Dog hair is unsightly, and you don’t want it to be the reason someone decides not to buy your home.

 

While dog hair is unsightly for some, it is actually uncomfortable for others. Many people have dog allergies, and these allergies can cause immediate symptoms like congestion, eye discomfort, and trouble breathing. Often, if there is still dog or cat hair and dander laying around the house, prospective buyers’ bodies will notice it instantly. If their allergies act up during a tour, it is almost a guarantee that they will not buy the house.

 

5.     Remove all pet items and spaces from the house

 

black and tan short coat medium sized dog lying on floor

 

The last big thing you need to do to remove all traces of your pets from your house before selling it is to remove any visible pet items or pictures of your pet. While you might not take down framed family portraits, it is often a good idea to take down any pictures that include your pets. Cleaning up from their years of wear and tear is important, but many buyers will see a dog in a family photo and immediately make up their mind not to buy the house, regardless of how good it smells.

 

For this reason, you need to make sure that all pet items and pet pictures are put away before the showings begin. Food dishes, leashes, pictures, chew toys, and any other items involving your pets can easily be tucked away before any showings begin, and making sure that you do this, as well as the other steps above, will likely go a long way in your final selling price and how long it takes you to sell your home.

 

6.     Keep pets out of all listing pictures and marketing materials

 

black and white short coated dog on brown bear plush toy

 

Once the house is fully cleaned and all signs of your pets are removed from the property itself, the last thing you need to do is that you remove any mention of your pets from the listing and its promotional materials. It would be a major waste of time and money to put so much effort into cleaning your home, just to advertise to all potential buyers via the listing that you are the proud owner of two golden retrievers.

 

There are several ways that you could accidentally signal to your potential buyers that you are a pet owner, and you want to do all that you can to avoid them. Obviously, you do not want to outright mention that you own pets. However, your promotional materials and listing could be inadvertently advertising your pet ownership to the world. In your listing and flyers, you want to make sure that all photos do not include pets or pet items, as this defeats the whole purpose of putting in so much time and effort into cleaning up your home. Similarly, it is best to avoid terms like “pet-friendly” as typically only pet owners think to include things like this.

 

 

That is all we have for you in terms of things pet owners should do before selling their home! Selling your home can be a very stressful process, especially as you come to terms with selling the memories that you have made along the way. Hiding your pet’s presence may feel like a betrayal towards them, but you need to make sure you don’t let those emotions stop you. After all, your pets will have a nice new home to live in soon, and they will never remember the old place!

If you decide to visit Myrtle Beach or any other place in South Carolina and fall in love, reach out to us for help. We at The Boyd Team are always here to help you figure out whether Myrtle Beach is your next home or not, and we are committed to helping you find the right property for your needs and dreams. Any question that you have about moving to the area and finding your dream home by the beach is our pleasure to answer. Feel free to send us an email at eddie@boydteam.com or text or call us at (843) 222-8566, and we will get back to you as soon as we can. Being true natives of the Grand Strand and Horry County and with over 25 years of experience in the local real estate market, whether buying or selling, we can help you make your dreams a reality.  

No One Knows The Grand Strand Better! Trust, Knowledge, Experience, Professionalism, You Can Count On!

 

Written by Greg

Posted in BoydTeam Blog
Sept. 7, 2022

Surprising Benefits of Upsizing Your Home After Retirement

 

 

Surprising Benefits of Upsizing Your Home After Retirement

Alt-tag Home area rug Featured image

What does retirement in your mind look like? A slower pace of life may be something you look forward to, but it doesn't necessarily mean that you should think simply. Who says you have to reduce your aspirations or your property when you retire? After all, you've worked hard for it.

If your goals are more ambitious, forget about downsizing or moving out of the house you already own and love. Instead, concentrate on what would work best for you and your financial situation. Here are some surprising benefits of upsizing your home after retirement you've always wanted, whether it's to make room for your increasing family or to realize a longstanding dream of moving somewhere new.

Progress In Your House Goals

Upscaling doesn't always mean adding square footage; this is the opportunity to define exactly what your ideal retirement will look like. Moving to the country or renting a fancy apartment with a view of the ocean are two possible options, advised by our consultants from bestmovers.nyc. Another option is to give your long-cherished house a fresh look. If staying home is your top concern, make sure you're making the most of the space you already have and consider whether home additions like a loft conversion or even a vacation house somewhere could provide you with the extra space you need. Consider whether supplementary bedrooms are necessary for weekend visits or whether a larger living space and yard would be more beneficial if you're going to spend your retirement years organizing get-togethers or having the grandkids visiting.

Calculate The Numbers

Alt-tag: A person using a calculator Caption: When doing the math, consider that a greater area can result in higher monthly costs.

Consider the upkeep before spending money on an upgrade. A larger area can result in higher monthly expenses, so when calculating the math, take this into account. Follow the 50/30/20 rule as a general rule, popularized by US Senator and author Elizabeth Warren: You should assign 50% of your monthly budget for needs like rent and groceries, 30% for non-necessities, and 20% for savings and debt repayment.

1. Family Accommodation

The gift of grandkids is just one of the numerous benefits of reaching retirement age. Although not all retirees are married or have children, for those who do, upsizing is the ideal method to host visiting relatives. Having extra rooms is advantageous for accommodating family members and guests, whether they are spending a while or are simply dropping by.

2. Preparation For The Future

Accessibility is another factor that may cause retirees to upsize their homes. It is beneficial to have a bigger space that can fit walkers or wheelchairs in case their health deteriorates, or their mobility becomes limited. Retirees may choose to invest in larger ranch-style homes rather than multi-story buildings for the same reasons.

3. Support And Care For Family Members

Alt-tag: Grandmother and grandfather holding a child on their lap Caption: The memories we make with our family are surprising benefits of upsizing your home after retirement. 

It's possible that a retiree will have to take care of a family member even if they aren't planning ahead for their own needs. To have additional space to take care of someone else, the retiree may decide to upsize as a result. Again, having room to accommodate people is always convenient.

4. Relocation

The term "retiree" does not mean "boring." When you approach retirement age, you often have more time to engage in the enjoyable hobbies that your job has always prevented, whether they involve vacationing, hiking, skiing, swimming, leisure activities, or other enjoyable pursuits. Retirees frequently move to be closer to the "adventures" and wind up upsizing. Living in adventure areas and resort towns is often more expensive, but it is great if you have the money. A new area might be exciting to move to. Additionally, living in a desirable area might be advantageous. Because of this, it's common to hear advice to pick your location wisely. However, your neighborhood's residents are just as crucial as your location. Look for information online, which will help you find the best possible neighborhood.

5. Simply For Pleasure

Upsizing your house can occasionally just be a good opportunity to enjoy retirement. The dream home you've always wanted is finally within your reach since you worked hard to obtain the money. Of course, moving up to a large, opulent home would not be a good idea if you are paying a massive debt to do so; however, if you can afford it, go out and enjoy yourself.

Alternatives

If you don't want to upsize, renovating is perhaps the most obvious alternative to make. The benefit of remodeling that jumps out the most is the fact that you get exactly what you need in the end. The risk of overcapitalizing while upgrading is similar to that of overcapitalizing when renovating, which entails investing more money than the renovation will yield in terms of capital growth. The possibility of financially overextending oneself as a result of purchasing more items than are truly necessary is one of the most important disadvantages of upgrading. When you renovate, you have the chance to include money-saving technologies into a building that is made specifically to meet your needs.

Instead of constructing an addition or improving your property, consider doing something different. One of these choices might be purchasing a tiny piece of real estate (a one-to-two-bedroom apartment) in the center of a city that is expanding quickly. If your children know that when they reach a particular age, they will be able to rent an apartment in the center of the city to live in while they are attending school, they may be willing to put up with more cramped living conditions for a few more years. By doing this, you'll be able to stay in your existing house once they've left rather than having to downsize.

Live The Lifestyle Of Your Dreams 

Alt-tag: Family members sharing food Caption: Make sure the retirement home you choose is appropriate for the lifestyle you've been looking forward to.

After reading about the surprising benefits of upsizing your home after retirement, wherever you decide to live in retirement, be sure it suits the lifestyle you've been looking forward to. This is your time. Your retirement priorities will influence where and how you live, from having the opportunity to travel to spend more time with the family.

Photos used:

1. https://www.pexels.com/photo/black-home-area-rug-2950003/

2. https://www.pexels.com/photo/crop-anonymous-economist-using-calculator-app-on-smartphone-at-work-4386323/

3. https://www.pexels.com/photo/adult-affection-baby-child-302083/

4.  https://www.pexels.com/photo/sharing-food-3184177/

Meta description:

Your priorities for retirement will affect where and how you live, depending on whether you want to travel or spend more time with your family. Take a look at the surprising benefits of upsizing your home after retirement.

Posted in BoydTeam Blog
Sept. 3, 2022

7 Things To Consider When Buying A Home With Pets

shallow focus photography of white shih tzu puppy running on the grass

 

It is often said that a dog is a man’s best friend. Most people that have had a dog before would probably agree strongly with this statement! Dogs are playful, fun, obedient animals that add a whole new layer to your family dynamic. While dogs are great pets, we think that they are not the only animals that can be your best friend! Many people will proudly claim that cats, hamsters, snakes, ferrets, and fish can be man’s best friend, too! There is no limit to how much people can love their pets, and every pet owner is called to raise a different kind of animal.

 

Whatever your preference may be, the truth stays the same; buying a new house as a pet owner is slightly more difficult than buying a house as someone who does not have any pets. It’s not that your furry friend makes things difficult on their own, but their presence does add several factors that you need to think about. After all, you want to buy a home where everyone in your household is happy, right? This probably should include your pets, if you have any! Naturally, this is going to put some limits on the types of homes that you can buy, and your total number of options will likely decrease.

This post is going to take a look at some of the biggest things you should consider when buying a house with pets, hopefully opening your mind to ways that you can find your dream house without having to cramp Princess up in a cage. There is actually a lot more to consider than you might realize! After that, this post will take a look at whether it is better to buy or rent your home when you have pets. If the only pets you have are fish, you can likely just skip right past this post because most of these things should not concern you.

 

 

 

What Are The Biggest Things To Consider When Buying A Home With Pets?

 

1.     Think About How Much Space Your Pet Needs

 

brown and white dog on grass

 

The answer to this question varies widely depending on what kind of pet you have. If you have fish, they are obviously already confined to their own aquatic world. However, different animals need different amounts of space, and this is something that you absolutely must consider. While cats love roaming outdoors, they likely don’t need all that much space to themselves. A small yard is probably enough for them, and you could even get away with no yard. Cats are pretty good at maintaining themselves, and there is not really a need to walk them.

 

Dogs, on the other hand, need some special consideration. Naturally, there is a very wide range of sizes of dogs. From chihuahuas to great Danes, each breed of dog has its own space needs. Some dogs are probably going to be fine without much of a yard. However, other dogs do much better when they have their own safe space to run around in. Imagine never having to take Fifi for a walk because you can let her just chase squirrels in your fenced-in back yard! While outdoor space is very important, indoor space is something to consider, too. While you may have been able to make do with your bulldog in an apartment, wouldn’t it be nice to buy a home with enough space to give Bongo his own place to play and eat?

 

2.     Look Into Neighborhood Regulations

 

 

One of the advantages of being a homeowner is that you get to play by your own rules. While many landlords and property managers of rented homes have very strict pet policies, most homeowners have full control of who and what lives in their house (within reason, of course). While this is good news at first, different neighborhoods and developments might have their own regulations regarding pets, and you want to make sure that you are either ok with the regulations, or you don’t buy a home in that neighborhood.

 

What can these regulations look like? Well, let’s imagine you have a golden retriever named Lucky. Lucky is a really great dog, but he needs three walks per day. Some neighborhoods might require that you muzzle Lucky every time you take him for a walk. Others might require that you put him on a leash. Some neighborhoods might require you to put a “beware of dog” sign on your fence, and others might be really picky about barking.

 

In even more invasive cases, cities and HOAs might have size and breed restrictions, and they may require that you neuter or spay your pets. Whatever the case may be, it is always a good idea to ask the realtor and ask anyone you see in the neighborhood with a pet what their experience has been like, because once you buy a home, moving into a new one on short notice is pretty tough.

 

3.     Locate The Nearest Groomer, Vet, and Animal Hospital

 

white french bulldog wearing blue and white polka dot shirt

 

This point might seem silly to some, but these people likely have not lived in rural areas. Just like you want to live in a home that is relatively close to a doctor and a hospital, your dog would also probably appreciate living near a vet and an animal hospital! If you wake up at 3am to the sounds of a very sick Doodle the cockapoo, you will likely want the comfort of having an animal hospital 10 or 15 minutes away. Loading Doodle up into the car and driving 50 minutes or more is probably not a good idea for Doodle or for your car. Considering where the nearest animal hospital is before buying a home should not be one of the most important factors in your decision making process, but it should at least be taken into account.

 

While their will likely be a vet, groomer, and animal hospital within at least an hour of wherever you move, it is always a good idea to get familiar with these resources before you need them. Many pet owners recommend going to the vet for an introductory visit before you ever need to show up in a more pressing situation. Whether or not you decide to do this is up to you, but at least knowing where you can find them is a good idea.

 

4.    Consider The Types Of Flooring Throughout The House

 

beige puppy lying on brown textile

 

If you rented your previous home, odds are you have very little control over the type of flooring that was used throughout the house. For some pets, the type of flooring doesn’t make too much of a difference. However, for other pets – like dogs – the type of flooring that is used can make a huge difference. One major perk of being a homeowner is that you have full say in what goes on in your home. While it would be nice to buy a home that already has the flooring types that you are looking for, you have the power to install whatever flooring type you want in whatever room you see fit. In this way, making your floors pet-friendly is fairly straightforward as a pet owner. Here is a look at how some of the most popular flooring types interact with pets:

·      Carpet

o   While carpet may feel great to walk on, it is a dirt and dander magnet for dogs. Additional, if Pinky has an accident indoors, it is much harder to clean up on carpet than any other surface, as most other surfaces will not absorb it. Unless you want to spend hours shampooing your carpets, avoiding carpet is probably a good idea.

·      Hardwood

o   Hardwood is beautiful, and it will not absorb Pinky’s accidents. These are both good things, and hardwood is considered to be significantly better for pets than carpet. However, hardwood is often soft and easily damaged, and if Pinky has long claws or nails, he will likely start to scratch up your beautiful dining room floor pretty quickly.

·      Tile and Laminate

o   Tile and Laminate flooring types are widely considered to be among the best types of flooring for pets, as they are scratch-resistant, stain-resistant, and very easy to clean. Laminate floors even have the advantage of being extra easy to replace, so if a piece gets ruined, you may even be able to replace it yourself with a little bit of homework.

·      Bamboo and Rubber

o   Bamboo and rubber are newer, alternative flooring ideas that are extremely pet-friendly. While you probably don’t want to lay these types of floors all throughout your home, putting them in pet-designated areas is often a great idea. Both of these are easy on your pets’ joints, are stain-resistant, allergen-resistant, and scratch-resistant.

 

5.     Think About Recurring Necessary Activities With Your Pet

 

fawn pug biting rope

 

As a pet owner, you have undoubtedly taken on a large amount of responsibility. This is inherent to owning a furry friend! From feeding them, to bathing them, to playing with them, to grooming them, to cleaning up their messes, there is a laundry list of tasks you need to do to stay on top of your pet. When buying a new home, it is important to think about what those recurring tasks are, and how they would look in your new home.

 

One common example is bathing. Where do you currently bathe your pet? Are they a “hose off outdoors” kind of pet? A “put them in the bathtub” kind of pet? A “toss them in the sink” kind of pet? Whatever the case may be, you want to make sure that you have an appropriate place to bathe your pet in your new home. If your pet has always been bathed in a bathtub, you probably want to make sure that whatever home you buy has (or can have) a bathtub.

 

This thought process applies to much more than just bathing. Your pet likely has several habits that you need to consider. Do they shed? If so, you might want to buy a house with a floorplan that permits the use of pet gates, so that Rover can’t get into the living room and shed all over the couch. Is Spot good at doing stairs? If not, you might be more inclined to buy a rancher. While the specifics vary on a case-by-case basis, the idea remains the same in every case; consider what you and your pet do together frequently, and make sure your new home is a space that will allow for these activities.

 

6.     Is The House In A Safe Area For Your Pet?

 

This is one of the most important questions you can ask yourself when shopping for a new home as a pet owner. At the end of the day, many people view their pets similarly to how they view their children. While you probably never need to worry about sending Zeus to school, you do still want to make sure that he is safe! There are several factors about a home’s location that can make it more or less safe for pets, including proximity to highways, dangerous animals, weather patterns, proximity to bodies of water, and presence of poisonous plants or animals.

 

If you the house you are looking at buying is located right off of a busy road, you will probably need to be extra careful about opening and closing the door. While accidents are not common, even the best trained dogs can feel inclined to make a run for it at times, and they normally aren’t the best at looking both ways before crossing the street. On a similar note, while some dogs are pretty good swimmers, not all dogs realize what happens when they chase a duck into a river, and if there are currents, it is often hard for them to get out. Other factors are a bit more dependent on geography and are less controllable on your end, but living in places like Florida’s gator country is an obvious risk, as well as living in places with either extreme heat or extreme cold.

 

7.     Are There Parks and Trails Nearby That Would Be Good For Walking And Playing?

 

woman walking with two dogs

 

This tip is pretty dog-specific, but it is a very good one to consider. We mentioned earlier that dogs really need their space to roam free, and this is often accomplished in your yard. However, if your new home does not have a yard or you feel like mixing things up a bit, it is always very nice to have parks and trails nearby where you can take your dog for some extra exercise and sensory stimulation.

 

While most new homes you look at will not be located near a dog park, many will. Dog parks are an incredible resource, as they provide a great way for your dog to play and interact with other dogs in a safe environment. On top of that, going to a dog park helps you to connect with other dog owners in your area, which is great for future doggy play dates, dogsitting opportunities, and general friend-making in your new area or community. After all, most dog owners think alike, right? Living in a home that is near these amenities for your dog is great for them, but often equally great for you as you learn about your new community and embrace your new surroundings.

 

That is all we have for you in terms of important things to consider when buying a house as a pet owner! Moving can be stressful, and moving with a furry friend can be even tougher. These tips should help you to settle on a place that is safe and enjoyable for both you and your best friend. While owning a pet can slightly complicate the homebuying process, it is not that big of a challenge at the end of the day. Owning a pet might limit the total number of houses that are available to you, but ultimately you will still be able to find a great home that checks all of your boxes.

If you decide to visit Myrtle Beach or any other place in South Carolina and fall in love, reach out to us for help. We at The Boyd Team are always here to help you figure out whether Myrtle Beach is your next home or not, and we are committed to helping you find the right property for your needs and dreams. Any question that you have about moving to the area and finding your dream home by the beach is our pleasure to answer. Feel free to send us an email at eddie@boydteam.com or text or call us at (843) 222-8566, and we will get back to you as soon as we can. Being true natives of the Grand Strand and Horry County and with over 25 years of experience in the local real estate market, whether buying or selling, we can help you make your dreams a reality.  

No One Knows The Grand Strand Better! Trust, Knowledge, Experience, Professionalism, You Can Count On!

Written by Greg

 

 

 

Posted in BoydTeam Blog
Aug. 27, 2022

Best Things to do in Myrtle Beach in September

As August comes to a close and September begins, Myrtle Beach is almost ready for a sigh of relief. September is still an incredibly popular month to visit Myrtle Beach, but the end of the busy season is in sight. The buzzing months of June, July, and August have all come to a close, and September is pretty much the tail end of the peak season in the Grand Strand.

 

In many ways, September could actually be seen as the best month to visit Myrtle Beach. The crowds are slightly diminished, kids are back in school, the weather is beautiful but no longer blazing hot, and the full gamut of restaurants and entertainment venues remain open before some change their schedules for the offseason. If you want to bask in the sun, earlier months might be a little more preferable for you. However, if you want to enjoy the area, spend some quality time on the beach, and have a more relaxing vacation, September is a good time to do it.

 

In this post, we will take a look at all of the best things to do in Myrtle Beach in September, ranging from time on the beach to local events and more. After that, we will take a look at whether or not Myrtle Beach is actually worth visiting in September, or if you should just stay home instead.

 

white braille paper on brown wooden table

 

 

1.    Soak Up the South Carolina Sun

 

Don’t get us wrong; there is a lot more to do at Myrtle Beach than just go to the beach! However, September is actually one of the top months to hang out on the beach itself in the Myrtle Beach area. The weather is still nice and warm, the crowds are largely diminished, and the water has had the sun beating on it all summer long, making it very nice and warm to swim in. Can you get a tan at Myrtle Beach in September? You better believe it! The weather is perfectly conducive to a traditional beach day, with the added bonus of having much more personal space since most family vacationers have come and gone already.

 

While the weather is definitely warmer in August than it is in September, that should not turn you away. Myrtle Beach in the summer has its upsides, but it is also extremely hot and humid. By the time September begins, the humidity is much more tolerable and the temperature is warm but not blazing. Specifically talking about the beach, many people will tell you that May and September are the best months to visit Myrtle Beach, and that is fully because of a blend of the diminished crowds and the more comfortable temperatures.

 

2.    Try Something New And Check Out Myrtle Beach’s Broad Entertainment Options

 

Myrtle Beach got its start because it has a great beach. This is what started to draw people to the area over one hundred years ago. It would be reasonable to say that Myrtle Beach exists because of its beach. Over time, it has become one of the most popular beach destinations in the United States, and the main reason that this ever happened was because of the long stretches of beautiful sand and ocean that make up the Grand Strand. With time, though, popular places get built up and further developed until they are entertainment wonderlands, and Myrtle Beach is exactly that.

 

Myrtle Beach has something for everyone, and the area has so many things to do that you simply will not have time to do them all. There are so many things to do here that even most locals haven’t checked out the broad majority of them. From go-karts to waterparks, and from shopping venues to golf courses, Myrtle Beach literally has something for everyone. In September, the weather is absolutely spectacular in the evening, making places like Broadway at the Beach and Barefoot Landing magical. Whether you are on a romantic getaway, a family vacation, or are visiting as a solo traveler, there are bountiful things for you to do while in Myrtle Beach.

 

 

3.     Spend A Night At A Myrtle Beach Pelicans Baseball Game

 

September is when the minor league baseball season comes to a close, but you still have a few more chances to see Myrtle Beach’s only professional sports team play! Going to a Myrtle Beach Pelicans game is definitely not something you want to miss, as a minor league baseball game is easily one of the best things to do in Myrtle Beach in September. The Pelicans recognize that many people going to minor league baseball games aren’t necessarily going for the game itself, and they do a great job of making the game of baseball fun to watch; whether you are alone, on a date, out with friends, or watching as a family. 

 

As they are just a Single A minor league team, tickets are quite cheap. In fact, the ticket prices are all preset at the box office and don’t fluctuate based on the opponent. Honestly, though, the games are just as fun as the major leagues! This September, the Pelicans play at home for one last series. They will be at home playing against the Carolina Mudcats from Monday September 6 to Sunday September 11. Baseball fan or not, this is sure to be a great night out regardless of who you take along. For more information about tickets, be sure to visit the Myrtle Beach Pelican’s website.

 

 

4.     Feast At Your Selection Of Myrtle Beach’s Top Dining Establishments

 

The beach is great. The entertainment venues are great. But if you ask anyone who has been to Myrtle Beach before, the real treat in Myrtle Beach is the culinary scene. Some of the restaurants in Myrtle Beach are truly out of this world, and there simply are not enough days in a week to try them all. In fact, even people that live here can’t get enough! From international cuisines, to American staples, to southern specialties, the restaurant scene in Myrtle Beach is alive and well.

 

While there is food of every kind here, the cuisine that you really don’t to miss is Calabash food, which is served at the extremely popular Calabash buffets all throughout the area. Calabash food is a local specialty, and its lightly fried goodness will leave you full for days. You really don’t want to miss out on Calabash food when you visit Myrtle Beach. For more information on Calabash food, be sure to read our blog post all about Calabash food and what makes it special!

 

 

5.     Check Out The Labor Day Fireworks Extravaganza

 

Labor Day is the de facto end to Myrtle Beach’s peak season, and they really like to go out with a bang. The locals have been hard at work all summer long to show off all of the great things that the Grand Strand has to offer, and they are ready to celebrate their hard work! On Sunday, September 4, 2022, visitors can celebrate the end to summer at Broadway at the Beach’s Labor Day Fireworks Extravaganza. This event includes food, fun, and live entertainment all starting at 7:00pm, and it ends with a mega fireworks show at 10:00pm. This family-friendly event is something that you definitely will not want to miss if you are in Myrtle Beach for Labor Day weekend! The fun will be going on every night during Labor Day weekend from 7:00-10:00pm, but the fireworks extravaganza on Sunday is the cherry on top that you should be sure to see!

 

Is Myrtle Beach Worth Visiting In September?

 

While there is less going on in September than there is in August, that is not necessarily a bad thing. With reduced traffic, smaller crowds, and quieter nights, September has many advantages over August when it comes to visiting Myrtle Beach. If you are looking for blazing hot summer sun, you may be better off heading to Myrtle Beach earlier in the summer. However, if you want more comfortable weather, tolerable crowds, and reduced prices, September is one of the best times to visit Myrtle Beach.

 

To be fair, not everyone is looking for the advantages that September offers over August. Some people want a lively, packed beach, very hot beach days, and the busier vibes of Myrtle Beach in August. If that is more your speed, you still have time! Just try to visit Myrtle Beach as early in September as possible, as Labor Day weekend is the busiest that the Grand Strand will be for the rest of the year. If you like the sound of a more toned back vacation, though, September might be more your speed.

 

One of the best parts about visiting Myrtle Beach in September is that the wait times for your favorite restaurants and entertainments venues are likely to be much shorter than they are in the summer. Some restaurants have waits that are literally hours long in the summer, and that really trails off as you get deeper into September. The later in September you visit, the shorter the lines tend to be. Similarly, prices for accommodation and entertainment venues tend to drop in the fall, as the decrease in demand causes these places to slash their prices and make whatever they can for the rest of the year.

 

Myrtle Beach is not especially well set up to handle large amounts of car traffic, and this is often one of the biggest complaints of visitors in the peak summer months. Driving from one end of the city to the other can take twice as long as it should, and this can throw a real wrench into things when you have dinner reservations and other time-sensitive things going on. In September, the traffic is extremely manageable, and it is only a fraction of what it is in the peak summer months.

 

Most of the inconveniences that face visitors to Myrtle Beach in the summer trail off as September goes along. The summer has its advantages, for sure, but September is often a sweet spot that visitors fail to take advantage of when planning their trip to Myrtle Beach. The decreased crowds, lines, traffic, and prices should be enough to answer the question “is Myrtle Beach worth visiting in September?” Yes!

 

That is all we have for you about visiting Myrtle Beach in September. Hopefully this list of the best things to do in Myrtle Beach in September was helpful for you as you plan your trip to the Grand Strand for the end of this summer or the start of this fall! Depending on what you want to do, September could actually be seen as one of the best months to visit Myrtle Beach and its surrounding areas. The full list of great and unique things to do is still open in full operation, the weather is great (even cooler by now, actually), and the crowds are largely dimished and absolutely tolerable. September’s crowds are nothing when compared to the summer droves.

If you decide to visit Myrtle Beach or any other place in South Carolina and fall in love, reach out to us for help. We at The Boyd Team are always here to help you figure out whether Myrtle Beach is your next home or not, and we are committed to helping you find the right property for your needs and dreams. Any question that you have about moving to the area and finding your dream home by the beach is our pleasure to answer. Feel free to send us an email at eddie@boydteam.com or text or call us at (843) 222-8566, and we will get back to you as soon as we can. Being true natives of the Grand Strand and Horry County and with over 25 years of experience in the local real estate market, whether buying or selling, we can help you make your dreams a reality.  

No One Knows The Grand Strand Better! Trust, Knowledge, Experience, Professionalism, You Can Count On!

 

Posted in BoydTeam Blog
Aug. 20, 2022

What Is The Best Age To Buy Your First House?

Realtor, Real Estate, Real Estate Agent

 

Buying your first house is no small task. In fact, it is probably one of the most intimidating things that most people need to face in their lifetime. The facts are simple. When you buy a house, you are agreeing to anywhere from 10 years to 30 years of debt that must be consistently paid on a monthly basis. Not just that, but those monthly payments often cost as much as half of your monthly pay. If that isn’t enough to scare you, consider the fact that you also need to pay insurance, maintenance, potential HOA fees, utilities, and more. The list goes on and on!

 

This extensive financial commitment is enough to scare many young people away, but should it? While there are a lot of scary factors that go into buying a house, there are just as many rewarding factors. From the pride of ownership to the financial empowerment of building equity, buying a house offers plenty of upsides, too. And also, if you are going to be paying the money for rent anyway, you might as well have it build you a little equity!

 

This post is going to look at what the best age to buy your first house is, dividing the focus between people that are 25 and under, people that are between 25 and 30, people that are between 30 and 35, and people that are above 35 years old. Within each age group, we will look at the financial advantage and disadvantages that would come with buying a home, as well as other thoughts that are relevant to each group.

 

 

Is Buying A House Before The Age Of 25 A Good Idea?

 

This section might really stick out to you. How in the world could buying a house so young be a good idea? Is it even possible for a 22-year-old to buy a house? What crazy mortgage lender would allow that? And what 22-year-old has the money for a down payment?

 

These questions are all valid things to ask. And, to be fair, the average age to buy a first home in the United States is definitely not under 25. (In fact, it is 33…but more on that later!) The group of people that are able to commit to buying a house before they turn 25 is small, and the portion of that same group that is also willing to buy a house before their 25th birthday is even smaller. Still, some people can pull it off. Is buying a house before the age of 25 a good idea?

 

Advantages To Buying A House Before Your 25th Birthday

 

The single greatest advantage to buying a house so young is the earlier liberation from debt. Assuming someone buys a house at the age of 24, opts for a 30-year mortgage, and lives in that house for the full duration of the loan, they will pay it off before their 55th birthday. No, that doesn’t sound very young, but the average first-time homebuyer in 2022 will not pay off their home until they are over 60 years old! The second your mortgage is paid off, all else equal, you instantly unlock thousands of dollars per month of income that are no longer tied to paying off debt. This can unlock opportunities for early retirement or for additional saving down the line!

 

Buying a house at a young age also locks in its price at a typically lower level, as home values usually rise pretty steadily. Buying a house at 25 instead of 35 could mean spending tens of thousands of dollars less on the same house, meaning a higher overall return on your investment.

 

The third major advantage of buying a house before you turn 25 is the net savings you will attain over time. The average apartment renter in the United States pays over $1,300 per month in rent, which builds no equity for you. Over the course of 5 years, this equals a whopping $78,000! Imagine if that same money earned you 15% equity in a home that you could eventually sell!

 

Disadvantages To Buying A House Before Your 25th Birthday

 

The biggest and most notable advantage to buying a house before your 25th birthday is that you will be restricting some of your mobility and flexibility. While you can always sell a house, many homebuyers feel locked into a location once they purchase a house. Some 25-year-olds know exactly where they want to live for the rest of their lives, but many people who are early in their careers are still trying to figure out where to live in the long run. Buying a house makes moving to a new city or state much more complex than just finishing out a lease and signing a new one in a new place.

 

On top of that, taking out a mortgage at such a young age might be difficult. As most 25-year-olds don’t have extensive credit histories, lenders are likely to give them pretty high interest rates. On top of that, most 25-year-olds don’t have the savings to make a 20% down payment, meaning higher overall amounts of interest being paid and higher monthly payments.

 

 

Is The Best Age To Buy A House Between 25 And 30?

 

The average age to buy your first home in the United States doesn’t fall in this age group, either. While 30 might sound like a great time to buy a home, many homebuyers still decide to wait before making their big purchase. Some people would argue that this age range is the perfect time to buy a house, though. Why would that be?

 

Advantages To Buying A House Between 25 And 30 Years Old

 

Overall, the reasons to buy a house in this age range are pretty similar to the reasons in the under-25 group. Buying a home earlier locks in a lower price, allows you to pay off the loan at a younger age, and builds more equity in your home, sooner. Again, if 5 years of rent totals an average of $78,000, 10 years of rent totals over $150,000! The sooner you stop renting, the more you save in this regard.

 

While the advantages are similar, the means are different. It is unreasonable to expect a sub-25-year-old to have the financial means or capacity to buy a house. However, as you get closer to 30 years of age, your financial picture usually starts to get a little bit clearer. If you hit 30 years old and still can’t afford a house, there is nothing to worry about! The current prices of homes feel exorbitant, and there is no shame in needing more time to save up. However, many more 30-year-olds can afford a home than 25-year-olds, making this age group much more likely to actually sign on the dotted line of a mortgage.

 

Disadvantages To Buying A House Between 25 And 30 Years Old

 

This disadvantages to buying a house in this timeframe are also similar the disadvantages in the under-25 group, but there is even more context. The average age to get married in the United States is currently right in the middle of this range, meaning that having children is often not too far off. Where this can make things tricky is that you might not currently be in a position to buy a 3-bedroom house! While you might be able to afford a nice 1-bedroom home, this could very quickly become too small if you plan on getting married and having children. If you don’t want to go through the hassle of buying a home and then selling it a few years later to upsize, buying a home in this window of time might not be the best idea.

 

If you don’t plan on getting married or having children in this timeframe, or you can already afford a house big enough to accommodate those things, then buying a house in this timeframe is often a great idea. If you buy a house before you turn 30 years old, you will be able to pay it off on time before your 60th birthday. While this might sound old to still be making mortgage payments, it is still before most people retire, meaning you will likely at least own your home before you walk away from work!

 

 

Is The Best Age To Buy A House Between 30 And 35?

 

The average first-time homebuyer in the United States is around 33 years old, so most people would probably agree that this is the best time to buy a house. By the time you are in your early 30’s, you likely have some stability in terms of income and life situation. While not everyone that gets married has done it before their 35th birthday, a large portion have, and these people have a clearer picture of what to expect their financial situation to look like.

 

Advantages To Buying A House Between 30 And 35 Years Old

 

The biggest advantage of waiting to buy a house until you are in your early 30’s is clarity. By the time you are in your 30’s, you will likely have a clearer idea of what direction your career is headed and what direction your personal life is headed. You may be married, you may have children, you may have decided to stay single…the list of life decisions that can be made goes on and on. However, the clarity of what you want to do, both professionally and personally, is a great advantage that you often have when shopping for homes in this age range. If you have had strong career success, you might be making much more money than you anticipated and can afford a much bigger or nicer house than you would have thought in your 20’s. Or, on the flip side, you may have landed on harder times financially and not have the financial capacity to buy the home that you dreamed of.

 

Still, in both cases, the clarity of this age range empowers you to make a smarter decision for your future. Do you plan to stay single, and want a deluxe 1-bedroom home with all the modern upgrades? Do you plan to get married and have 7 children, requiring much more space? Whatever your angle is, your 30’s will likely at least provide a clearer path forward for you.

 

On top of the clarity, another large advantage for homebuyers in this age range is often stability. Whether you make more or less than you imagined, it is likely that by this point your income has at least stabilized a bit and you can more accurately forecast your expenses and debts. Also, if you began building your credit at a young age and practiced good financial habits, your credit score is likely significantly higher than it was in your early 20’s, which leads to much better interest rates and mortgage options.

 

Disadvantages To Buying A House Between 30 And 35 Years Old

 

The biggest disadvantage to buying a home in your early 30’s is simply the amount of time that was spent not building equity in the home. Again, 5 years of rent in the United States averages out to about $78,000. If you went to college and graduated at 22 years old, you will probably spend at least $120,000 on rent by this phase of your life. If you didn’t go to college and moved out right after your 18th birthday, you have likely spent at least $150,000 on rent by now.

 

While having a roof over your head is the most important thing, building equity with that money instead of pouring it right down the drain would be even better. Waiting until you are in your 30’s to buy your home means that over a decade of rent money has been spent that could have been gaining value, and you will now only pay off a 30-year mortgage after your 60th birthday. Making mortgage payments after you retire can be very hard if you don’t have a pension plan, so this should be avoided as much as possible!

 

 

Should You Wait To Buy Your First House Until After You Turn 35?

 

If you have read through this post up to this point, you have probably caught onto the idea that waiting to buy your first house is usually not the best idea. While there are advantages to buying your first house at a later age, those advantages are generally outweighed by the advantages of buying a house at a young age. While 35 years old is not that far above the average first-time homebuyer age in the United States, it is in many ways the least advantageous age on this list to buy a home. Below are some of the reasons why.

 

Advantages Of Waiting To Buy A House Until After You Turn 35 Years Old

 

The advantages of buying a house after 35 years of age are very similar to the advantages of buying a house in your early 30’s, but amplified. You likely have even more clarity now than you did when you were in your early 30’s, and your earnings have likely increased to a much higher point than when you started working over a decade ago. These are all good things. Between having the stronger financial capacity to buy a home and the clarity of where that home should be and what it should be like, this could be seen as the perfect time to buy a home.

 

However, just because it might be the perfect time to buy a home doesn’t mean that it is the perfect time to buy your first home. 35 years old is usually a great time to upsize or relocate if you need more space or a different pace of life, but waiting until your 35th birthday to buy your first home isn’t ideal. It isn’t a bad thing, by any means, but you also lose out on some of the major financial advantages that come with buying a house at a younger age.

 

 

Disadvantages Of Waiting To Buy A House Until After You Turn 35 Years Old

 

We touched on this above, but waiting to buy your first house until you are in your mid-to-late-30’s comes at a big tradeoff. While you will likely be able to afford a bigger house and a higher down payment, you also will miss out on years of potential equity growth. While having geographic flexibility in your 20’s and early 30’s is a great thing, it may come at the cost of tens of thousands of dollars of equity. Additionally, waiting to buy a house until after you turn 35 means that you will not be able to pay it off until after your 65th birthday, which is usually a time that people are retiring from work. Again, making mortgage payments on a fixed income after retirement is not ideal if you don’t have a pension, making waiting to buy your first home until your 35th birthday less than ideal in that regard.

 

 

At the end of the day, there is no perfect age to buy a home. That is why people ranging from 18 years old to 45 years old will buy their first home at some time this year. There are strong advantages to buying a house at a younger age, but those advantages also come with their own drawbacks. The same can be said for your late 20’s, your early 30’s, your late 30’s, and beyond. Really, it boils down to your own plans, goals, finances, and dreams.

 

If you plan to move around the country every few years, buying a home is likely not the best idea. On the flip side, if you know where you want to live in the long-term and are able to find work there, buying a house at a very young age could be an extremely advantageous decision. Similarly, waiting until you are 35 might mean missing out on potential equity for a decade, but if you are living in a small studio and investing your money elsewhere, you could see similar gains over that stretch of time. Really, the best age to buy a home depends on each person, as it will be the time when they feel like they have the clarity, financial capacity, and mental readiness to invest in a home. That time will be different for everyone, and that is a perfectly normal fact of life. If you need help with any of these aspects of the homebuying process, get in touch with a realtor who can help you along the way. While entering the homebuying market for the first time can be intimidating, a good realtor is able to take away many of those stresses while also ensuring that you find the right house for yourself, both in terms of life goals and financial limitations.

 

 

 

Thanks for reading our post about the best age to buy your first house. We know that buying your first house can be a daunting task, and for this reason many people put it off until as late as possible. If you visit Myrtle Beach or any other place in South Carolina and fall in love, we’re here to help. We at The Boyd Team are committed to helping you find the right property for your needs and dreams. Any question that you have about moving to the area and finding your dream home by the beach is our pleasure to answer. Feel free to send us an email at eddie@boydteam.com or text or call us at (843) 222-8566, and we will get back to you as soon as we can. Being true natives of the Grand Strand and Horry County and with over 25 years of experience in the local real estate market, whether buying or selling, we can help you make your dreams a reality.  

No One Knows The Grand Strand Better! Trust, Knowledge, Experience, Professionalism, You Can Count On!

 

Posted in BoydTeam Blog
Aug. 15, 2022

You've Remodeled, Now What? Deciding Whether to Sell or Rent Out Your Home

You've Remodeled, Now What? Deciding Whether to Sell or Rent Out Your Home

When you first bought your fixer-upper, you may have started the renovation process with a specific outcome in mind, like selling your home. But now that the renovation process is complete, maybe you’re reconsidering utilizing the property as a source of passive income. When deciding whether to rent or sell, you’ll want to make a careful analysis of the pros and cons of each option. Here are some tips to get you started, courtesy of BRG Real Estate.

Points to Consider While Remodeling

If you’re still in the process of remodeling your fixer-upper, you know that it’s important not to over-improve, regardless of whether you decide to list or lease. For example, if you’re thinking of selling, you don’t want your remodel to raise your home’s value significantly above the median sales prices of other local homes.

Renovations for Leasing

If you’re renting, some of the same projects apply, but others, such as adding a new fence, can also be a good feature for pet owners and enhance a property’s privacy, increasing the property value in the process. Costs will depend on materials, size, and your location. You can search for local contractors, making sure whoever you hire is licensed, insured, and has knowledge about underground utility lines. 

Renovations for Historic Homes

Many fixer-uppers are also historic homes, which require slightly more care and attention to detail. The unique fixtures or finishes that make the home unique are also what make it appealing during resale, so you’ll want to exercise care to ensure they aren’t changed or removed during the renovation process. You’ll also want to familiarize yourself with local district rules for renovating an older home, as some areas may require pre-approval from a City Council or Preservation Society before proceeding. 

Points to Consider Before Leasing

Is your property in a high rental area or a vacation hotspot? If so, renting may be the most lucrative choice. Areas with booming job growth and college towns may also be good locations for long-term renting, while beach destinations and tourist hotspots will be particularly lucrative for short-term rentals.

But even if you do live in a high rental area, you’ll want to consider the responsibilities of being a landlord before making your decision. Are you handy, or do you enjoy DIY projects? Being a landlord often means attending to your rental’s appearance, making fixes or repairs as needed.

You also want to run the numbers to see if you would be cash flow positive each month, after paying any mortgage, property taxes, and insurance. Another factor to keep in mind while deciding is whether you can charge enough rent in relation to the home’s value. You’ll want to know the gross rent multiplier or the ratio of the price of real estate to the rental income generated. In general, experts agree that a GRM should be between four and seven to be considered healthy.   

Marketing Your Property

Whether you’re planning to rent out your home short- or long-term, you’ll need to list and market your property. There are a variety of sites where you can list your rental property and advertise its amenities. You can also utilize social media to market to potential tenants. Be sure to take appealing photos of your pro=perty to post on social media. You can also do yourself a big favor by using online tools to help. For instance, if you search for a banner maker, you’ll find this free program that allows you to use customizable templates to help you get the word out!

Consulting With a Seasoned Professional

While a variety of factors are taken into consideration when deciding whether to rent or sell, the choice ultimately depends on how much you’ll earn from selling versus renting long-term and whether the rental income is worth the work and money involved. 

Let BRG Real Estate, the top realtors in Myrtle Beach, help you make your dreams a reality! Reach out today to get started

Image via Pexels

Posted in BoydTeam Blog
Aug. 15, 2022

6 Compelling Reasons to Buy a Waterfront House

 

6 Compelling Reasons to Buy a Waterfront House

Are you thinking about purchasing a beachfront property but aren't sure yet? This is why investing in waterfront real estate is wise.

Living close to water is a terrific choice for many reasons. A waterfront home is a wonderful opportunity to take in the scenery and the natural world from the comfort of your own home. Being near water is not only enjoyable, but studies have shown that it may also be good for your mental health.

There are numerous compelling factors that may be enough to convince you to buy or rent waterfront property if you're on the fence about doing so.

What are some of the benefits of buying this kind of property? Continue reading, and we'll go over 6 compelling reasons to buy a waterfront.

Amazing Views

Alt-tag: Photo of a house near beach Caption: One of the best reasons to buy a waterfront is that choosing to live in a house near a lake or river will greatly improve your quality of life.

A beachfront property includes much more than just the house itself. In reality, you're paying money to gain access to some of the most breathtaking views around.

What could be more pleasant than having a view of a lake or river from your kitchen table? Living close to water helps you feel more connected to the outer natural environment.

You cannot have this kind of experience if you choose to live in the suburbs, where your views are confined to your backyard and the houses that are crammed in close proximity to one another.

Depending on where you are located, the water's views will also give you a better chance to observe wildlife outside your window.

The calm atmosphere that this view offers is likewise challenging to match. Living near water is like taking a trip that keeps going forever. There is always room to relax, decompress, and take advantage of all that Mother Nature has to offer.

Of course, not every view of the sea will be equal, and some of them will be more valuable than others. However, any view of a body of water will represent a tremendous investment potential in the future.

Your quality of life will significantly increase if you choose to live in a cottage close to a lake or river.

Value at Resale

A waterfront home's exceptional resale value is one of the main factors attracting property owners. These kinds of properties typically hold and increase in value over very long periods of time since there is a restricted amount of space near bodies of water.

People will always be interested in living near water, in general. The advantages and quality of life are simply too attractive to pass up.

Years from now, if you decide to sell the beachfront property you just bought, you should be able to get a great price.

 

Homes on the waterfront have a greater increase in value than other types of properties. You can pretty much count on making a healthy profit when you eventually decide to sell your beachfront home.

You can rent out your property to people looking to spend time near water even if you decide against selling your property entirely. The warmer seasons of the year can bring in a sizable profit, increasing the value of your home for you.

Value of Water Access

Alt-tag: Aerial shot of ocean Caption: Access to the water and the ease of that access are key factors in determining how waterfront houses are valued.

 

Does the house or land you're considering actually have access to the water? If that's the case, it might be a more sensible investment to consider.

Understanding how waterfront homes are valued depends on access to the water and the accessibility of that access. It will be really helpful if you can access the lake by going via the backyard and taking a quick plunge.

Comparatively speaking, the long, perhaps perilous trek to the river down a stony hill will be worth somewhat less.

Easy access makes it simpler to construct a dock, go kayaking, or take part in a variety of water-based activities.

It can be challenging to locate a property that has quick, easy access to a body of water, even when limited to waterfront properties. A property that has such a feature will undoubtedly be a wise investment for many years to come.

Health Benefits

The waterfront property you choose will benefit your physical and mental health in addition to your wallet over time.

As we previously noted, simply being near water helps to improve mental wellness. Finding balance in one's life, relaxing, and re-connecting with nature are all made simpler.

Living near water tends to encourage a lifestyle that is more physically active than one may find in the suburbs or even in the city. There are several water-based activities one may engage in, many of which are great for physical activity.

Living here encourages a more active lifestyle that may involve outdoor pursuits like gardening, hiking, and other similar things.

Maintaining your physical activity is important as you age, and living near water makes it much easier to do so than it may be if you were in the middle of a suburban community - as advised by experts from Spyder Moving.

Waterfront Homes Provide Privacy

Nobody can deny that having more privacy makes you feel better. Let's face it: Even with all the fencing and hedging in the world, living in a city will prevent you from having complete, uncompromised privacy from your neighbors and passers. Due to their remote, rural settings away from the city, waterfront homes and lakefront properties offer an extremely high amount of privacy. The only outside interaction you'll experience living by a lake is the occasional boater passing by. That is nothing in comparison to how overcrowded a major area can be!

Excellent for Entertainment

Alt-tag: Top view of people in the water Caption: House on the water It's a wonderful location for family reunions, birthday celebrations, and anniversaries.

You will have a spot to host visitors at your house if you own a home near the water. It is a terrific location for family reunions as well as birthday and anniversary celebrations. Anytime you want to enjoy people and the ocean, invite pals over. There is a lot to do, so anybody you invite ought to have a wonderful time. Make it to your liking with the help of experts for the personalization of the new home.

Summary

The advantages listed above (6 Compelling Reasons to Buy a Waterfront House) can convince you that investing in waterfront real estate is the right choice if you're on the fence about doing so. Living near water can be advantageous for both your health and, ultimately, your bank account.

Meta description:

There are numerous compelling factors that may be enough to convince you to buy or rent waterfront property if you're on the fence about doing so. Continue reading, and we'll go over 6 compelling reasons to buy a waterfront.

 

Photos used:

1. https://www.pexels.com/photo/architectural-photography-of-gray-granite-swimming-pool-and-outdoor-lounge-at-beach-side-1268871/

2. https://www.pexels.com/photo/photo-of-house-near-beach-2468773/

3. https://www.pexels.com/photo/aerial-shot-of-ocean-449007/

4. https://www.pexels.com/photo/top-view-of-people-in-the-swimming-pool-7294669/

Posted in BoydTeam Blog
Aug. 13, 2022

8 Reasons To Buy A House Young (And Why You Shouldn’t Be Afraid To)

Buying a new home can be one of the most exciting times of your life, but most people tend to wait until several years after renting. Nowadays, the average first-time homebuyer is 33 years old! This means that most people spend the entire decade of their 20’s renting their home. There are a lot of good reasons to wait this long. Often, the idea of choosing one place to live for the rest of your life is intimidating. Often, the idea of spending tens of thousands of dollars on a down payment is even more intimidating, let alone impossible. Young people often want to retain the freedom to live where they want to live, accept jobs wherever they get the best offer, and move freely from one dwelling place to another without the need for a realtor. These things can all be seen as advantages, and it is no surprise that many people feel this way.

 

However, there are just as many advantages, if not more, to buying a house at a younger age. Just because the average age of the first-time homebuyer is 33 does not mean that you can’t buy one younger! All of the worries about buying a home young make sense, but there is plenty that you can do to make those worries vanish. Once you are able to look past those worries, it is very easy to both see and get excited about the advantages of buying a house young. This post is going to take a look at the advantages of buying a house young, then continue with why you should look past the initial fears and stresses that come with buying your first home, especially at a young age.

 

woman in white shirt using smartphone

 

Advantages of Buying a House at a Young Age

 

1.     Buying A House Young Means You Gain Equity Earlier

 

When you make a mortgage payment, you gain equity in your home. Equity is basically the same as ownership. When you buy a house and take out a mortgage, the bank technically owns your house until the mortgage is fully paid off. With each mortgage payment, you slowly gain ownership of a certain percentage of your home. Each mortgage payment consists of both principal and interest. Interest is like a fee that you pay to the bank for lending you the money, and principal is the actual money that you borrowed from the bank. Whether you pay your landlord or you pay a bank for your mortgage, you’re going to be spending the money each month; why not get something back for it? If you buy a house, live in it for 5 years, and then sell it to move somewhere else, you make a little bit of money. If you rent that whole time, you walk away with nothing.

 

2.     Buying A House Young Gives Your Property More Time To Appreciate

 

This goes along with equity. When you build equity, that means that you get to walk away with a little something when you sell the house. If you buy a house for $300,000 and you earn 10% of the equity before you sell it, that means that you walk away with $30,000 if the house sells for $300,000. Typically, that’s not all. Houses are considered one of the safest investments that you can have, because their values almost always go up. Housing prices are almost always on the rise, which means that your 10% equity might be worth a lot more than just 10% of the amount that you spent on the house. If you buy the house for $300,000, earn 10% equity through your mortgage payments, and then sell it for $450,000, your 10% equity is worth $45,000, which is 50% more than what you paid! If you were renting during that time, you would walk away with nothing, as you do not build equity when you rent. In fact, your rent normally build equity for somebody else.

 

3.     Buying A House Young Gives You Collateral For A Second Home

 

The equity that you gain in your house isn’t just nice when you sell it; it is also useful while you still own the house. You can take out loans and other mortgages using your home equity as collateral. This is very useful if you decide that you want to upsize, as you can rent out your current house, take out a mortgage on a new home, and earn passive income on the original house. I mentioned above that when you rent, you are earning equity for somebody else, and this is exactly how. If you rent out your original house to someone in need of a place to live, their monthly rent payments will cover your mortgage (and more, usually) earning you more equity in that home. Eventually, the house will be paid off, and you will have multiple properties in your name!

 

4.     Which Gives You The Opportunity To Make Passive Income

 

Spurring off of that, if you use your earned equity to buy a second home, and you decide to rent out the first one, you can make passive income off of the first one. Passive income is income that is made by doing very little, or next to no work. In this case, you would be letting someone live in your first home in exchange for monthly rent. Normally, this monthly rent will be enough to both cover your mortgage and give you some extra money from month to month. You will make money by doing literally nothing, and you will eventually own both houses entirely. Then, once the first house is fully paid off, every single month of rent is straight income for you, as you will no longer need to pay the mortgage. Imagine what that would be like – making over a thousand extra dollars per month of income, at very little extra cost!

 

5.     Buying A House Young Protects You From Rent Increases And Inflation

 

One of the biggest advantages of buying a house young is that you lock in the price of the home and monthly payment, regardless of what happens as time goes on. If you live in an apartment, it is likely that your rent goes up each year. Especially in this crazy year, some leases are increasing by over 25% year over year as the cost of living rises. This means that many people who were paying $1200 per month for their apartment are now paying $1500, and people who were paying $2000 are now paying $2500. This is not fun, and if you are renting, there is very little you can do to control the rent. You would simply need to find a new apartment if the rent gets too high for you, and we all know that moving from place to place can be stressful and a ton of work. If you own a house, your mortgage payment stays still until you have the house fully paid off. That is all in the terms of the loan agreement, and you will never need to worry about inflation when it comes to how much you pay for your house. If you wait until later in life to buy a house, it is likely that the purchase price will be higher due to inflation, and you will likely see less gains in your salary as a result.

 

6.     Buying A House Young Helps You To Build Your Credit

 

Many people struggle to build their credit at a young age. This is largely because one of the biggest criteria in your credit score is the age of your oldest credit account or credit card, and that can’t possibly be very long for a young person! While taking out a mortgage doesn’t help the age of your oldest account, it does show lenders that you are able to take on large financial liabilities and pay them off responsibly. This is something that bodes well for your future, and can help you to get better interest rates on future mortgages, car loans, personal loans, credit cards, and more. While taking on hundreds of thousands of dollars of debt to help your credit score might sound counterintuitive, it certainly does help your credit score to rise in the long run, as long as you can afford to make your payments on time each month.

 

7.     You Have Less Financial Commitments When You Are Young

 

This point is something that many young people don’t think about when they opt not to buy a home, but it is a reason that many more young people actually should be buying homes. Younger people typically have less responsibilities and commitments than older people. If you are unmarried, have no kids, and have no real commitment other than your job, there is really nothing impeding you financially from buying a home. Locking in your monthly mortgage payment at this point in your life usually bodes well for later on, when you are married with kids. Trying to buy a house at a later point in life while also juggling the costs of marriage, parenting, and adulting in your 30’s is much more difficult, and getting a head start in your 20’s is a great way to combat these difficulties.

 

8.     Buying A House Young Forces You To Save Your Money

 

Some refer to homebuying as “forced saving.” While I do not personally like this perspective, I think that there are definitely a few positive takeaways from it. Firstly, locking in a monthly payment at a young age gives you unrivaled stability for the rest of the time that you own the house. There is no need to move from place to place, negotiate new leases, or find ways to scrape pennies together. Assuming that your pay only goes up over time, your financial commitment to your home will only decrease over time. If you are not great at managing money, a mortgage can sometimes be seen as a great way to learn how to save. Your monthly payment will not go up over time, and you will be able to learn how to properly budget and save. Missing a credit card payment is one thing, but failing to pay your mortgage feels like a whole different level of mistake. Therefore, locking yourself into a monthly commitment that is this serious can often help you to properly manage your money.

 

Why Buying A House At A Young Age Really Isn’t That Scary

 

At first glance, the fears all make sense. You are signing a contract that obliges you to pay hundreds of thousands of dollars over the next 30 years of your life, and you might not even be 30 years old! How are you supposed to sign a mortgage when you have no idea what you will be doing in 30 years? How do you know you will be able to pay for it? The price is so high! What if you want to move? There are all normal thoughts to have, so don’t worry if they’ve been running through your head on loop. After all, a house is probably the most expensive purchase that you will ever make, and you should ask yourself these questions. If you’re not asking yourself each of these things, maybe you are not ready to buy a house, anyway!

 

The rebuttal to these questions is simple. It will all be ok, as long as you do your homework and work with a good realtor along the way. Banks can be pretty picky with their mortgages. Often, they will not approve you unless they are sure that you will be trustworthy. If a major bank chooses to trust you, you can probably choose to trust yourself, too. The points outlined in this post show that there are major advantages to buying a house at a young age. If you can afford to buy a house at a young age, you will likely be better off later in life if you do it. You will pay off your house sooner, sink less money into rent, and gain equity in a home that can be used for many purposes later. Buying a house young can set you up to buy your dream house earlier in life, too, which is a major advantage that most people miss out on. The sooner you own a house, the soon you will never have to pay rent or a mortgage again.

 

 

 

Thanks for reading our post on reasons to buy a home at a young age! Buying a new home at a young age is certainly intimidating, but it often comes with many major advantages, as we have outlined in this post. Hopefully the points we made in this post are helpful to you as you begin looking into buying a home in your 20’s or young 30’s. Remember, just because the average first-time homebuyer is 33 does not mean that you need to wait until you are in your 30’s! As always, be sure not to rush into any major financial commitments, like buying a home. This is a long, complicated process that should not be taken lightly. If you are looking to buy a home for the first time, it is crucial that you work with a realtor who can make sure the whole process goes smoothly for you and you are not blindsided by any problems or issues.

 

If you visit Myrtle Beach or any other place in South Carolina and fall in love, we’re here to help. We at The Boyd Team are committed to helping you find the right property for your needs and dreams. Any question that you have about moving to the area and finding your dream home by the beach is our pleasure to answer. Feel free to send us an email at eddie@boydteam.com or text or call us at (843) 222-8566, and we will get back to you as soon as we can. Being true natives of the Grand Strand and Horry County and with over 25 years of experience in the local real estate market, whether buying or selling, we can help you make your dreams a reality.  

No One Knows The Grand Strand Better! Trust, Knowledge, Experience, Professionalism, You Can Count On!

 

Wriitten by Greg @ The Present Perspective

 

Posted in BoydTeam Blog