A significant part of South Carolina’s popularity is Myrtle Beach. Home to wax myrtle trees, it is part of the Grand Strand. The Grand Strand is a long stretch of uninterrupted coastline, giving you the most captivating views of the waters. Residents, meanwhile, can enjoy the many parks in the area.
As the seaside golf capital globally, it boasts of about 100 golf courses. Owning a piece of Myrtle Beach real estate also provides you access to some of the world’s most beautiful golf resorts. Here are other reasons to pack your bags and move to Myrtle Beach:
Home Price
According to Zillow, the average home price of a property at Myrtle Beach is around $168,000. By the end of 2020, it will further rise by 2.7%. It makes the city a seller’s market. Even then, prices in Myrtle Beach are still lower than in the nearby areas, including Sunset Beach and Carolina Shores.
Now is one of the ideal times to buy a home here since the prices are still not high enough to break the bank. Meanwhile, it offers plenty of room for growth if capital appreciation is what you’re looking for.
Taxes
All states have taxes, although rates may be higher in some places than the others. Take, for example, property tax in South Carolina. When you buy a Myrtle Beach real estate property, this tax will need to be settled. This city is part of Horry County, where the average tax rate is 0.372%. Annually, you may end up spending less for your property tax.
South Carolina also levies favorable income tax rates. For instance, it doesn’t let you pay taxes for Social Security benefits. It makes the state retiree-friendly. It also follows the federal income tax rates with a few modifications or adjustments. It is also progressive, so lower earners pay less tax than high earners.
Cost of Living
South Carolina’s cost of living is significantly lower than in other states, in almost all categories. Perhaps the most significant expenses are utilities and housing, although homes are more affordable than nearby states such as Georgia.
Myrtle Beach, in particular, even has a lower cost of living than other cities or counties in South Carolina. According to PayScale, it is about 7% lower than the national average. The median income in the city is about $52,000. The low cost of living, though, gives you enough wiggle room to cover all your needs and wants.
Healthcare
Do you want to be healthy in your old age? Perhaps you can consider getting a Myrtle Beach real estate. The data from Livability.com revealed that the city has some of the healthiest people. Around 80% of the adults do not smoke, while 71% are of healthy weight.
The cost of healthcare is slightly more expensive than in Charleston or Charlotte, North Carolina. It still pales in comparison to that of New York and San Francisco, though. You don’t need to move to Myrtle Beach now to maximize these benefits. You can buy a holiday home or earn money from it through short or long-term rentals.
The most important thing is you don’t miss the chance of enjoying a more laid-back beach lifestyle.
This is a collaborative post.