New Construction or Resale Home?

NewHouse

NewHouse

As you begin your home search in Myrtle Beach you will have to make a decision between buying a new construction home or resale. This article will take a look at the pros and cons of each, so that you can narrow down which preference will work best for you and your family.

Myrtle Beach Resale Home

Pros

  • Location – Older, established neighborhoods are often very popular because they are located in the heart of a thriving area of the city. In addition, most of the oceanfront and beach access properties have already been built, which means that it can be very difficult to purchase a lot or new construction home in these areas.
  • Established Landscaping – One of the biggest things that set older homes apart from a new neighborhood is the landscaping. It takes years for trees and plantings to grow into a beautiful and lush garden. An older home is perfect for homeowners who are looking for larger trees and mature flowerbeds and shrubs, while a new home is often a blank slate that requires years of work and patience before the landscaping is right.

Cons

  • More Maintenance/Repairs – When you move into a home that is ten or more years old you can expect that you will need to make many repairs and replacements over the next few years. A couple of examples are appliances that wear out and roof shingles that need replacing. Truly older homes might have an entire mechanical system that needs to be replaced, like new electrical wiring or HVAC equipment.
  • Not energy Efficient – Older homes will never be as energy efficient as a modern home since many of the advances made in the last several years in insulation, low-E windows, energy star appliances, and mechanical systems were not available when the home was first built. Some of these items can be added over time as things need replacing, but many would require a significant remodel to be included into the home.

New Construction in Myrtle Beach

Pros

  • Location – New construction homes around Myrtle Beach are often designed within a master planned community that features many more amenities than an older neighborhood.
  • Warranties – Your new home will come with warranties on the products and installation that last between 2 to over 10 years depending on the item. This gives you assurance that you home will not cost you hundreds to thousands of dollars in repairs after your purchase.
  • Modern Upgrades – Granite countertops, stainless appliances, and home theater wiring are a few of the modern features that new homes offer. Many of these items aren’t available in older homes and would require significant remodeling.
  • Energy Efficient Design – Tight home construction, energy star appliances, and advanced mechanical systems can be found in most new homes today. This will allow you to keep your utility bills low, while enjoying a more comfortable home.

Cons

  • Little To No Landscaping – New construction will often come with a pretty basic landscaping package that does little for those who really love established trees and bushes. Instead, it will take some planning, hard work, and time to get your yard to look good.
  • These are just a few of the pros and cons associated with buying a new construction home versus a resale home in Myrtle Beach. Deciding on the home features that are a priority to you will help dramatically in your home search.

Preston Guyton is a professional Realtor® serving the Myrtle Beach real estate market. For more information on Myrtle Beach homes & properties, contact Preston today or visit http://www.prestonguyton.com

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Home Inspection – Why They Are Important

Home Inspection

Home Inspection

Home Inspection – Why It Is Important

For Buyers

Whether the home is older or new construction, all buyers should get a home inspection before closing on a property. Here are a few of the benefits a buyer will receive.

  • Plan Future Expenses – The last thing that anyone wants after buying a new home is to find out that they need to make expensive repairs immediately after moving into the house. An inspection will lessen the chance of a lurking problem, and help you plan for future repairs that all homes need like roof replacements.
  • Negotiation Power – In your purchase contract you need an addendum that explains whether repairs discovered during a home inspection will be completed before closing, or the cost of the work is reduced from the final sales price. With a detailed report of pictures and items in need of repair, it is easier to go back to the negotiation table or have an excuse to walk away from the contract.
  • Peace of Mind – The home buying process can be complicated and stressful enough without the added worry as to whether the home is in good shape, or hiding an expensive problem to fix. The inspection can help allay these fears and let the buyer’s focus on the enjoyment that they will be getting out of their new home.

For Sellers

What many people do not recognize is that sellers can also benefit from getting a home inspection. Here are a few of the reasons why an inspection can be a good idea for a seller.

  • Make Repairs Before Marketing – While you know your own home, an inspection can help point out any hidden repairs that will need to be completed before putting your house up for sale. This will help ensure that your home will impress buyers, their agents, and the inspectors they will be sending after going under contract.
  • Prevents Last Minute Sale Problems – Everyone would prefer that the home buying and selling process went smoothly, but that is often not the case. With so many steps involved in a real estate transaction there are many issues that can slow or stop the closing. Necessary home repairs do not have to be one of those issues if they are discovered early and completed well before the closing takes place.
  • Creates Confidence in Sale Price – Often a seller will be excited about getting their home under contract only to be confronted with a long list of expensive repairs or price reductions due to a home inspection that discovered problems in the house’s construction or maintenance. The small investment a seller makes in getting an inspection will help assure them that the contract price will stay the same and limit the concern for any surprise negotiations.

Both buyers and sellers should consider getting a home inspection before the real estate transaction takes place. The peace of mind of knowing the home is functioning properly will help the closing to proceed smoothly and on time.

Preston Guyton is a professional Realtor® serving the Myrtle Beach real estate market. For more information on Myrtle Beach homes & properties, contact Preston today or visit http://www.prestonguyton.com

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Myrtle Beach Golf Course Real Estate

Golf Homes For Sale

Golf Homes For Sale

Myrtle Beach Golf Course Real Estate

Myrtle Beach is a favorite haven for golfers looking to challenge their game, while enjoying the ocean and the coastal lifestyle. For this reason, Myrtle Beach golf course real estate has become extremely popular for those who are looking for a new home, vacation property, or real estate investment. The following is a few reasons why now is the best time to buy a home that backs up to a golf course in Myrtle Beach.

Affordable Prices

The recent correction in the housing market means that Myrtle Beach’s golf course homes are more affordable than ever. Whether you are looking to be close to a favorite course or balance beach access with a neighborhood golf course, you are bound to find what you are looking for at significantly lower prices than a few years ago. Many buyers are planning for their future retirement lifestyle and buying second homes that will become their permanent homes in a few years. For the immediate future, they can rent it out to vacationers for an additional income. Not only are the homes more affordable, but so are the rates for a quality round of golf.

Golfer’s Paradise

Myrtle Beach has over 100 golf courses, which makes finding real estate next to a golf course very easy. In addition, Golfer Digest voted the city as the best market for golf homes in the country in 2006. To make this decision they weighed the number of high quality local courses with the typical number of playable days and overall cost of living. In the end, Myrtle Beach golf real estate was number 1. It would be difficult with even the most avid golf lover to run out of new places to play golf in this city.

Low Interest Rates

Right now interest rates are around the lowest they have ever been. As the market starts to pick up again and the economy begins to flourish these loan rates will quickly begin to rise. By purchasing a home in the next few months you can lock in these incredibly low rates for the life of your loan, and save a significant amount of money and interest over 30 years. In addition, it is much easier to negotiate with lenders for reduced fees because so many mortgage brokers are fighting over your business.

Fun for Everyone

Whether you have a young family or are looking for that perfect coastal retirement home, Myrtle Beach is a great destination. The golf course homes in Myrtle Beach are never too far away from the beach, so it is easy to fill your day with sun, greens, and sand. Additionally, entertainment, fine dining, and child friendly fun can be found throughout the Myrtle Beach area.

There are many reasons why someone should consider the Myrtle Beach golf course real estate that is available today. If you are considering a relocation, vacation home, or investment purchase, then you should do yourself a favor and see what Myrtle Beach has to offer. You won’t be disappointed.

Preston Guyton is a professional Realtor® serving the Myrtle Beach real estate market. For more information on Myrtle Beach homes & properties, contact Preston today or visit http://www.prestonguyton.com

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Condo or Condotel – What is the Difference?

Condo

Condo

The word condotel is relatively new to the real estate vocabulary, but it is an important term for buyers to understand if they are interested in purchasing a condo in a resort location. High rise condos overlooking beautiful stretches of coastal shoreline have long been a favorite type of real estate for second homes, vacation getaways, real estate investments, and for those who are looking for a new type of well located, low maintenance, luxury home. The introduction of condotels has created a new dimension to the typical condo that will be explained in this article.

What is a Condotel?

To begin with, we need to understand what a condotel is and how it differs from a standard condo. Sometimes referred to as condo hotels or hotel-condos, this popular new type of real estate consists of high rise condos that are operated and managed as luxury hotels. This means that the condo units are individually owned, but branded together as a Westin, Ritz-Carlton, or other luxury hotel chain.

The typical luxury high rise condominium lacks this same luxury hotel branding and marketing, which sets a condotel apart from standard condos. The hotel works as the management company for the building, scheduling short term or long term stays around the times that you are occupying your condo. In addition, you get all of the luxuries of a world class hotel at home. Room service, gym and spa facilities, and a friendly staff to help answer your questions are just a few of the added perks that are missing from most traditional condo towers.

Advantages of a Condotel Over Condo Ownership

There are many reasons why condo hotels have become so popular over the last few years, especially when compared to a typical condo purchase.

Headache Free Investment Property or Second Home

When it comes to furnishing, maintaining, or renting out your hotel condominium, you are free from the decision making process. The hotel management company maintains the condo as they would any hotel room in one of their prestigious locations. This means that design and décor is kept similar from condo to condo, and the day to day running of the hotel takes the burden of making sure your property is well maintained out of your hands, while ensuring rental income when you are not using the property yourself.

Tax Advantages

Condo-hotel ownership that is not used as a primary residence can have an accelerated depreciation schedule that reduces the 39 year period to 27.5 years, 15, and even as little as 5 years. This accelerated depreciation means significant tax bill reductions in the years it is used. Your accountant will be able to explain how this can be helpful when applied to your specific financial situation and tax expectations.

Disadvantages of a Condotel

There are a few differences potential condotel owners need to know about before they decide to make their purchase. To begin with, many people prefer to add their own personal touches to their second homes and vacation properties. This isn’t possible with a condo hotel because the décor is mandated by the hotel to ensure that rooms are similar in look and amenities across the entire complex. In addition, those owners who would like to spend time in their condotel must make reservations weeks ahead of time for their own properties because the hotel service may book the room far in advance.

Now that you have a better understanding of what condotel means and how they differ from an average condo, you can make the decision as to what type of real estate will work best for you.

Preston Guyton is a professional Realtor® serving the Myrtle Beach real estate market. For more information on Myrtle Beach homes & properties, contact Preston today or visit http://www.prestonguyton.com

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Thinking of Buying a House? 10 Steps to Home Ownership

Myrtle Beach Homes, Myrtle Beach Homes for Sale, Myrtle Beach Oceanfront Real Estate, Myrtle Beach Waterfront Real Estate

Thinking of Buying a House?

Home ownership has long been part of the American Dream and one of the best investments that most people will make in their lifetime. Whether you are new to the home buying process or someone who has bought and sold many times before, the road to home ownership requires planning and attention to detail. The following 10 steps to owning a home will give you a guided path that will help make your new home purchase go smoothly.

1. Understand Your Budget – Before you delve into all of the listings of beautiful homes that could be yours, it is important to start with a realistic look at your finances, so that you understand how large of a down payment you can make and what type of monthly payments you can afford.

2. Get a Realtor – Your Realtor will be the best source of information on the current housing market in your area, as well as real estate laws, negotiation techniques, and the different trades and companies who you will need to work with before the home becomes your very own.

3. Loan Pre-Approval – Speaking with a mortgage broker or your banks loan officer will help you understand your pre-approval limits, financing range, and probable interest rates. This is just the first step of the mortgage process, but these numbers combined with the budget numbers from the beginning will give you a solid idea of what home prices you can work within as you search for your new home.

4. Home Search – Now that you have the necessary numbers, it’s time to go take a look at the homes in your price range. Research the neighborhoods and school systems, as well as the proximity to important places like work and shopping. This is where your Realtor will really prove their value and help make sure that you find a home that meets all of your needs.

5. Full Loan Approval – After you have been pre-approved and found a mortgage broker who you would like to work on your loan, it is vital to gather all of the important paperwork and submit the loan application. Once your application has gone through underwriting and you have received full approval for getting a loan, you will be able to lock your interest rate and assure the home seller that your offer to purchase can be financed.

6. Make an Offer – When you have found that perfect home in your price range, you are ready to make an offer to purchase and put a home under contract. Here again your Realtor will be tremendously helpful as they make sure that proper wording is put into the purchase offer to allow for inspections and possible repairs, and guide you through the negotiation process until you reach the price and conditions that satisfies both buyer and seller.

7. Home Inspection – Inspecting your future home is essential so that you are assured there will be no expensive repairs that are required shortly after purchasing the home. If repairs are needed to the roof or homes mechanical systems, the well written offer mentioned above will help define whether the price is reduced or the seller completes the repairs before closing.

8. Insurance – Home owners insurance and title insurance are important parts of the buying process. If you do not know of a local company to work with, your Realtor will have a few recommendations. Aside from being required by the mortgage company, insuring your home and making sure it has a clean title will help prevent any future troubles with the property and your legal ownership.

9. Solve Last Minute Problems – As smooth as we would like the home buying process to be, there are many people involved in each step of the purchase, which means that some problems will arise. For example, mortgage underwriters will need some last minute paperwork, or the inspection will reveal a major repair that requires further price negotiation. Problems and hiccups are the normal. This is again where your Realtors knowledge and expertise will help guide you over the last few hurdles.

10. Closing – Finally you have reached the end of the process, signed the ownership papers, and received the keys to your new home. All the hard work and planning has paid off and now you are the proud owner of your very own home. It’s time to unpack and celebrate.

These are the 10 steps to home ownership that every buyer will need to go through before having the keys of their new home handed to them. By working with knowledgeable professionals and following a solid plan, home ownership can be right around the corner for you.

Preston Guyton is a professional Realtor® serving the Myrtle Beach real estate market. For more information on Myrtle Beach homes & properties, contact Preston today or visit http://www.prestonguyton.com

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Maintain Your Lawn to Sell Your Home

Lawn

Lawn

There is really something to be said for a well-kept and well-loved lawn. It is easy to tell the difference between a lawn that is well cared for and one that has simply been tended to to sell the home. The difference comes in the quality of the grass itself, something that can only come from special care and handling. A really nice lawn can be a real focal point for a yard in a good way or just as easily a bad way. A lawn that is ill-tended can be full of weeds and moss, discolored and untidy. This never makes for a good impression on buyers as they will be looking for reasons to purchase the home, not reasons to pass it by.

One of the worst things you can do to a lawn it to let it get too dry — when it gets too dry, that green lustre is lost. One must keep the lawn watered throughout the dry season, and this is especially true if you are selling a home, as yellow lawns really don’t make great first impressions.

There are a few things that need to be done on a regular basis to ensure the health of your lawn. For starters, it’s a good idea to aerate your lawn at the beginning of the summer season. This process gets precious nutrients down under the lawn and allows moisture into a lawn that is starved for air. Lawns take a beating in the winter, especially in areas where there is snow and a lot of rain. Both of these weather conditions can really have a detrimental effect on a lawn’s health.

A nice lawn can be a huge selling point for a home. Not only is it a beautiful aspect of a home, but it sets up the area where your family spends time in the summer having family gatherings, picnics, and where your kids play. The yard is really a social area and the lawn is its floor. You must keep it in as good a shape as you would with an interior floor. Taking the time to keep things like lawns in shape speaks highly of you as a home owner and that is something that buyers will always take note of.

Preston Guyton is a professional Realtor® serving the Myrtle Beach real estate market. For more information on Myrtle Beach homes & properties, contact Preston today or visit http://www.prestonguyton.com

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Natural Cork Flooring

Flooring

Natural Flooring

With the myriad of flooring types available, shoppers tend to lean toward those that are most popular at the time. Unfortunately, this practice can cause a consumer to miss out on some great flooring options.

One of these hidden gems is cork flooring. Imagine a floor covering that is attractive, comfortable, environmentally friendly, durable and affordable. When most people think of cork, they think of a wine bottle or a cork board, and due to this lack of consumer awareness, this product is commonly overlooked. In order to appreciate this material, you really need to understand its unique characteristics.

Origin

Cork is actually the bark of the cork oak tree found in the Mediterranean. Portugal is the largest supplier with over 30% of the world’s cork trees and 70% of the world’s cork production. Every nine years the bark is harvested by hand with the average tree yielding about 4,000 corks.

The bark is honeycomb in nature, containing 90% air that can be compressed to 40% and then quickly returning to its original shape. This feature creates a natural shock absorber.

Benefits

Due to its air like composition, walking on cork is like walking on air. Its comfortable walking surface is perfect for kitchens where you are standing for lengthy periods of time.

Cork has a natural beauty with a rich, varying grain, similar to wood. It also comes in many different patterns and tile sizes from various manufacturers.

The same feature that makes the floor comfortable creates a natural noise reducer. It’s extremely quiet to walk on and reduces the impact if an object is dropped on its surface. It’s insulating effect make cork a great choice in a bathroom over radiant floor heating or even installed over cold concrete floors.

Cork is an environmentally friendly product in many ways. Since the bark from the tree grows back nine years after harvest, it’s a reusable and sustainable product. It also contains suberin, a substance that is resistant to insects, mold and protects cork from rotting when exposed to moisture. Suberin is naturally fire resistant and cork doesn’t release any toxic gases when it burns.

The durability of cork makes it a perfect choice for virtually any room in the house, including those high traffic areas. It has been successfully used in churches and other public buildings since 1898.

Disadvantages

Due to its resilience, heavy furniture can dent the flooring, so it’s important to use castors or furniture pads under table legs. Just as with wood, an excess of water can damage the finish. It shouldn’t be used where you have problems with moisture or flooding.

Costs

The cost of cork flooring compares to high-end laminate or hardwood and runs approximately $4 to 6$ per square foot.

Maintenance

Cork floors are extremely easy to maintain with regular sweeping or vacuuming. Damp mop the floor monthly with a mild detergent and very little water and avoid using abrasive or ammonia-based cleaning products.

The flooring requires up to five coats of urethane sealer, which will last several years. A dulling floor can be refreshed with another coat.

Visit Land on Water Realty, your one-stop resource for Myrtle Beach real estate Have all your questions answered by Preston Guyton, a professional Myrtle Beach Realtor

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