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Home or Business? Tax Benefits from a Second Real Estate Purchase

Home or Business? Tax Benefits from a Second Real Estate Purchase | Chicora Real Estate | Scoop.it

Buying a second home in great vacation locations like Myrtle Beach, SC can be a very good investment. Some people would rent out their second properties for most part of the year as a source of income, while others simply just drive down to their beachside houses for a quick weekend getaway. Whichever your reason is for your second real estate purchase, the move can certainly be a beneficial one, particularly when you consider the tax benefits. Here are some of them:

If Used as a Personal Property:

If you don’t rent out the property, you can enjoy the following tax benefits:

• Mortgage interest – Interest on the second home mortgage can be deducted, as with interest on your primary home mortgage.  The total amount of your debt (for both primary and secondary homes), however, must be within $1 million.

 

 

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Experienced Myrtle Beach Realtors Enable Successful Lease Agreements

Experienced Myrtle Beach Realtors Enable Successful Lease Agreements | Chicora Real Estate | Scoop.it

Many homeowners who have taken the leap into property investing naturally expect good returns. While leasing out property is a good way to generate passive income, you need to proceed wisely to avoid potential money pits. Tap the expertise of realtors such as Coldwell Banker Chicora Real Estate in Myrtle Beach, SC when it comes to marketing your property for rent.

Do your homework
Among other things, you need to sort out the rental rates. Research the market value of rental houses within the area and account for potential fixes to your property. Your realtor may connect you with a property manager to help hammer out a rental fee that is competitive and mortgage friendly.

 

 

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Considerations in Homes for Sale: Should Your Kids Share a Bedroom?

Considerations in Homes for Sale: Should Your Kids Share a Bedroom? | Chicora Real Estate | Scoop.it

During your search for homes for sale, one of the important considerations you need to decide on is the number of bedrooms in your home. Will you need several rooms for your big family, or would a two-bedroom home be enough? Will you sacrifice a larger home with four bedrooms for a smaller house in a much better location?

Another issue to consider is the bedroom for the children. It’s easy for children of the same gender to share the same bedroom which gives them many opportunities to bond. However, you’ll have to decide on getting another bedroom when taking to account gender and age differences between or among siblings. Generally, when siblings already enjoy each other’s company with similar interests and hobbies, they can develop even greater emotional connectedness when they share a room.

 

 

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Myrtle Beach Real Estate— Development Boost Aimed with Floating Zone

Myrtle Beach Real Estate— Development Boost Aimed with Floating Zone | Chicora Real Estate | Scoop.it

In late June, 2015, Myrtle Beach officials implemented a “floating zone” downtown—referred to as the south mixed-use area—that will allow real estate developers to suggest projects that don’t necessary fit the current zoning in the area. The officials hope the move will inspire creative, mixed use development in that part of town.


The south-mixed use area begins at First Avenue North and goes all the way to Seventh Avenue North and covers the Atlantic Ocean to Kings Highway in Myrtle Beach. Mixed Use High-Intensity (MU-H) is the current zoning in the area, and allows for commercial and retail developments. “It’s amazing when you go down there and you wander around and see the potential for what it could be,” said John Pedersen, City Manager.

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Realtors Share Expert Tips on How to Increase your Home’s Curb Appeal

Realtors Share Expert Tips on How to Increase your Home’s Curb Appeal | Chicora Real Estate | Scoop.it

A combination of good upkeep, visual charm and attention to detail, curb appeal is often enough to draw a person to a home with just a single glance. Though undefinable, it’s actually something that 71 percent of homebuyers look for when buying a home, thus it’s only prudent to have eye-catching curb appeal, which can either make or break a deal.


Even realtors and real estate agents consider curb appeal as among the five most important factors when selling a home, since it could add as much as 10 percent to a home’s value. Without it, prospective buyers will either want to settle for a lower price or reject your home altogether. You only need a small budget to do these simple jobs that can contribute to raising your home’s curb appeal.

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Things to Know as You're Looking at Homes for Sale in Myrtle Beach, SC

Things to Know as You're Looking at Homes for Sale in Myrtle Beach, SC | Chicora Real Estate | Scoop.it

First of all, when you're looking for a house, don't be tempted to buy something that's too big for your needs. Some houses look so good that it’s all too easy to just buy the one that catches your eye. The problem with that approach is that you have to live in the house and keep it well-maintained. If you're a couple with modest income and no children, you don't need multiple bedrooms, a large lawn and a dining room that looks like it's fit for a mansion. As you consider the available Myrtle Beach homes for sale, look for one that you can be comfortable in and also be certain that you can pay for its upkeep.

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Myrtle Beach, SC Real Estate: Should You Put Your Home on the Market?

Myrtle Beach, SC Real Estate: Should You Put Your Home on the Market? | Chicora Real Estate | Scoop.it

When you were in the market for your first house, you might have gone in thinking that it’s the first and last house you’ll ever buy. In recent years, however, you might have gone through significant changes in your life that would make living in your current house not so ideal. Putting it on the Myrtle Beach, SC real estate market may be the best decision you can make as it will afford you better opportunities without having to leave your beloved coastal city for good.

Downsizing Has Its Perks
You might have bought your first house to start a family, but now that your kids have moved out, there’s really not much sense in holding on to a home that’s too big for just you and your spouse. You’d be better off with a smaller house with fewer rooms to clean and maintain. Why not sell your house and use the money from the sale to buy yourself a new home that’s more suited to your needs?

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Buying Myrtle Beach, SC Real Estate: Decision Guides for Young Adults

Buying Myrtle Beach, SC Real Estate: Decision Guides for Young Adults | Chicora Real Estate | Scoop.it

Buying your first home is one of the biggest steps in life you’ll take. As a young adult facing various possibilities in your career, you’d want to establish residence in a place that has a continuously growing economy. If you want to live in an area with a beach and great weather, and promotes engaging in an active lifestyle, then come to Myrtle Beach, one of Grand Strand’s finest cities! To help you find your new home by the coast, consider consulting with local Myrtle Beach realtors.

Between 2013 and 2014 alone, the coastal city’s job growth of 5,500 new job accounted 16.9 percent of South Carolina’s overall job growth. Additionally, the City’s Comprehensive plan for 2015 states that 35 percent of the jobs are from the hospitality industry, 13 percent from retail, and 8 percent are construction-related. The growth factors are primarily influenced by the continuous influx not only of tourists and retirees, but also of millennials entering the housing market. Additionally, the growth in the healthcare field will also be apparent, as healthcare providers in the area try to fulfill the needs of its growing retiree population.

 

 

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Beach Homes for Sale in Myrtle Beach, SC: Investing in Healthy Living

Beach Homes for Sale in Myrtle Beach, SC: Investing in Healthy Living | Chicora Real Estate | Scoop.it

There have been numerous stories about how living near the ocean can help improve someone’s health, but many have assumed that these effects are nothing more than a mental reaction to being in a calm place. There are evidences, however, that point to living on beachside properties having actual health benefits. Here are some reasons why you should start looking at waterfront homes for sale in Myrtle Beach, SC.

Sea Air

According to research, the fresh sea breeze is more than just fresh air. Sea air is actually charged with negative ions, which make oxygen absorption easier for the body. These ions also help in achieving balanced levels of serotonin, a body chemical which affects our mood and capability to handle stress. Simply put, fresh sea breeze helps our bodies relax better.

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Find Myrtle Beach Real Estate to Take Advantage of City’s Attractions

Find Myrtle Beach Real Estate to Take Advantage of City’s Attractions | Chicora Real Estate | Scoop.it
The coastal city of Myrtle Beach, SC continues to grow as a golf hotspot. In a report by the Myrtle Beach Sun News, an investment group hailing from China bought two more golf courses, namely the Tradition Golf Club and the Wild Wing Plantation. The investment group is locally established as Founders Group International. Golf enthusiasts will definitely find the city a desirable place as the courses continue to be developed and expanded. Make no mistake, though; golf enthusiasts are not the only ones the city attracts. Golf is certainly not the only thing that Myrtle Beach has to offer, after all.
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Myrtle Beach Realtors Help You Find a Nice and Safe Waterfront Home

Myrtle Beach Realtors Help You Find a Nice and Safe Waterfront Home | Chicora Real Estate | Scoop.it
A nice house right across the beach is what most people are looking for when they go house hunting at Myrtle Beach in South Carolina. Then again, house hunters often just base their decision on the property’s size, appearance, and cost, completely leaving out one big factor for waterfront properties—safety from rainstorms or inclement weather. A beach property in any other state might look like it is safe when the sun is shining, but once the storms hit, your family might be in peril. Finding the perfect home where you can rest easy knowing that you’re safe is a top priority. Reliable Myrtle Beach realtors can help you in this regard. The Importance of Building Codes According to the latest report of the Insurance Institute for Business & Home Safety on property protection in hurricane-prone regions, South Carolina ranks third highest in safety. Building codes are an important standard to help real estate buyers determine the safety factor of a certain area during harsh weather.
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Lovely Homes for Sale in Myrtle Beach, SC: Are You Ready to Own One?

Lovely Homes for Sale in Myrtle Beach, SC: Are You Ready to Own One? | Chicora Real Estate | Scoop.it
How nice will it be to savor your morning coffee while facing the blue, serene sea that kisses the sandy shore from which a few feet away nestles your lovely summer vacation house? The prospect of owning one of the wonderful homes for sale in Myrtle Beach, SC can leave one dreamy—but if you plan to make it a reality, it is important to note that beach houses aren’t like your typical inland properties. Here are questions to ponder on or before you seal the deal for a seaside home. # 1: Are you financially ready for a beach house mortgage? Of course, if you have more than enough cash, the less you’ll have to pay to own the property. If you are to finance it, however, there has to be a ceiling as to how much of your income shall go to the mortgage payment of both your primary home and your beach home, along with the insurance premiums. If you can’t handle the load, then consider moving to your beach home permanently, as long as the circumstances allow it.
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Myrtle Beach, SC Real Estate: Reasons to Move to South Carolina

Myrtle Beach, SC Real Estate: Reasons to Move to South Carolina | Chicora Real Estate | Scoop.it
The Palmetto State, already widely known for its beautiful beaches and private communities, has made significant strides to enhance its medical-social programs for its residents, and this latest measure offers yet another reason to buy real estate in South Carolina, particularly in Myrtle Beach. The coastal city, which is known for its 60-mile stretch of beaches, gets approximately 15 million visitors annually. Indeed, quite a number people acquire real estate in Myrtle Beach, SC to enjoy the waterfront view or simply to lead a more laid-back lifestyle.
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Living in Oceanfront Condos May Hold the Secret to Being More Creative

Living in Oceanfront Condos May Hold the Secret to Being More Creative | Chicora Real Estate | Scoop.it

For many centuries now, people have always been attracted to living near the sea—or any body of water for that matter. Some are attracted to the pushing and pulling of waves, others to the open blue water, and some to the calmness it gives. There are those who would try to explain this attraction through science – negatively charged ions affecting the body’s serotonin levels; while other explanations are borderline pseudoscience – a need to connect with nature. Whatever the true reason may be, it can’t be denied that the being near a body of water is relaxing and rejuvenating.

According to Zenhabits.net, creativity can be enhanced in two ways. The first is through solitude, and the second by social participation – two things that you can achieve by living at oceanfront condos in Myrtle Beach.

 

 

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Houses for Sale in Myrtle Beach, SC Promise a Fulfilling Investment

Houses for Sale in Myrtle Beach, SC Promise a Fulfilling Investment | Chicora Real Estate | Scoop.it

If you’re looking for a good investment, one that offers great potential is a new house – specifically a vacation house in a beautiful beachside community. This venture requires a bit of prudence, however, and one of the first things you need to do is find a skilled property agent who can guide you through the process and avoid the pitfalls.

One of the most promising communities to invest in is Myrtle Beach, South Carolina. Proudly boasting a tourism-heavy atmosphere every day of the year, the city’s Atlantic shoreline gives vacationers that much sought-after beach time followed by a relaxing evening at an oceanfront home. If you are aiming to invest in a quality vacation house, the top agents in the area, like those at Coldwell Banker Chicora Real Estate, can show you the best houses for sale in Myrtle Beach, SC.

 

 

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Looking for Condos for Sale to Rent Out? Ideas for a Vacation Home

Looking for Condos for Sale to Rent Out? Ideas for a Vacation Home | Chicora Real Estate | Scoop.it

If you’re planning to buy a second home, consider getting one in a beautiful vacation spot like Myrtle Beach, SC. You can use this vacation home whenever you want to unwind on weekends or holidays, or if not, you can rent it out. Couples, families, or friends on an outing can use your property while on tour in the Myrtle Beach area, and arrange to use the place on a daily, weekly, or even monthly rate.

If such an investment presents great income potential for you, you have to set out to find the right property that you can afford to purchase and maintain. If your budget falls short of a large beachfront property, you can opt for condos for sale in the Myrtle Beach area, which continues to be a location with dynamic and vibrant communities. With condos in Myrtle Beach, you can still have the beach nearby while being in proximity to other tourist destinations. Consider investing in desirable features like spacious rooms and modern amenities.

 

 

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Looking for a Child-Friendly Place: Real Estate in North Myrtle Beach

Looking for a Child-Friendly Place: Real Estate in North Myrtle Beach | Chicora Real Estate | Scoop.it

Look back to your childhood. Do you remember running around your neighborhood with a pack of other kids, without care or worry that any harm will come to you? Don’t you want that same feeling for your own kids? When you take the time to find the right community to live in, you’ll find it soon enough.


Places like Myrtle Beach overall, have plenty to offer for children and adults alike. Amusement parks, beaches, amusement rides, and a multitude of attractions and events make real estate in the area an ideal place to raise a young family. MyrtleBeach.com lists a few local sights and sounds where ‘kids from 1 to 92’ can have the space to freely enjoy themselves:

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Why Now is the Time for You to Buy Houses for Sale in Myrtle Beach, SC

Why Now is the Time for You to Buy Houses for Sale in Myrtle Beach, SC | Chicora Real Estate | Scoop.it

With the Federal Housing Administration reducing annual mortgage insurance premiums by 50 basis points, buying a home is best done sooner rather than later, when house prices can get more expensive and interest rates go higher. Thanks to more options for cheaper mortgage insurance premiums, you’ll find that investing in a house is a better idea than renting and losing more money in the long run.


These conditions make for a perfect opportunity for you to buy among houses for sale in Myrtle Beach, SC, an opportunity that you definitely shouldn’t miss before it’s gone. You can seek help in your home buying endeavors with the help of real estate experts like those from Coldwell Banker Chicora Real Estate.

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Condos for Sale in Myrtle Beach, SC Give Options for Young People

Condos for Sale in Myrtle Beach, SC Give Options for Young People | Chicora Real Estate | Scoop.it

As a young person spreading your wings for the first time, you’ll probably want to move out of your family home and rent an apartment. Given all of the available condos for sale in Myrtle Beach, SC, however, it should be easy enough to buy one. Although part of you might want to go for something more permanent like an actual house, there are actually some reasons that you shouldn’t.


Many people assume that buying a home early in life would be a good idea. As a young adult, however, there are several factors to consider. First of all, you’ll need to think about where you will be within ten years. You might end up moving across the country for a job or for some other purpose; young people’s lives are known for being unsettled. This means you may end up selling the house you bought.

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North Myrtle Beach Real Estate Investments: Think Like the Experts

North Myrtle Beach Real Estate Investments: Think Like the Experts | Chicora Real Estate | Scoop.it

Buying a property smack dab in the middle of warm and sandy Myrtle Beach has its perks. Who wouldn’t want to wake up to beautiful, beach-perfect weather and stunning views of the Atlantic? If you’re in the market for an oceanfront property, you’ve got to think like the experts to make the most out of your North Myrtle Beach real estate investment. Here are some smart investment tips to consider.

Prepare for a Glamorous Lifestyle
If you are financially secure, gunning for a beachfront property may prove rather rewarding. With countless other buyers competing for such assets, however, property prices are bound to be higher than in areas well away from the beach. Then again, you can score a good deal if your timing is just right. Be sure to work with skilled real estate agents, like those from firms like Coldwell Banker Chicora Real Estate, to know when and where to buy.

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A First-Time Buyer’s Guide to Inspecting Myrtle Beach Houses for Sale

A First-Time Buyer’s Guide to Inspecting Myrtle Beach Houses for Sale | Chicora Real Estate | Scoop.it

There are countless options for choosing from the mnay wonderful houses for sale in Myrtle Beach, SC. If you’re already considering one, your next step would be to conduct a home inspection to verify whether your preferred house is indeed in the best condition that you expect. Note that this stage of the buying process isn’t something to be taken lightly; a beach house is an expensive purchase, and you wouldn’t want your investment to drown right into the depths of lost causes.

Here are key things you shouldn’t overlook during the inspection:

1. Check all of your primary house systems: electricity, bathroom, roofing, basement or crawlspace, appliance furnishings, insulation etc. Gather details about the following:

Is the house connected to a public sewer? If not, how old is the septic tank and how often do you have to pump it out?
How’s the HVAC system? Is there an AC? A furnace? How old are these equipment?

 

 

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Condos for Sale in Myrtle Beach, SC: Perfect Investments for Singles

Condos for Sale in Myrtle Beach, SC: Perfect Investments for Singles | Chicora Real Estate | Scoop.it

Most young people have difficulty deciding how best to invest their savings. Perhaps, upon receiving your new paycheck, you might have splurged on a new pair of shoes, or threw an “I have a job” party, and that’s all normal. You are entitled to enjoy your newfound financial freedom, but soon after, you need to start managing your spending.

One of the important things to remember is that you can’t stay in apartments forever. You need to save up enough money for a down payment for a home, and start keeping tabs on your credit score in preparation for obtaining a mortgage. Some would choose to buy a car before a house, but from an economic standpoint, a house is, and always will be, a better investment. If you think a house is too big for single living, you can consider attractive condos for sale in Myrtle Beach, SC.

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North Myrtle Beach Real Estate Presents Many Options for Relocating

North Myrtle Beach Real Estate Presents Many Options for Relocating | Chicora Real Estate | Scoop.it
The growth of tourism in Myrtle Beach, SC will seemingly continue for some time as companies keep expanding. Showstopper, a local dance competition company, is one such company. WMBF News reports of its planned expansion for its facilities. The company is set to build a 10,000-square-foot facility in order to hold bigger competitions. This would further contribute to sports tourism in Myrtle Beach. Businesses are in agreement that this planned expansion will have an immense impact on the economy of the area. The crowd that the competitions bring into the area results in an increase in activity for the surrounding businesses. If competitions get bigger, then it follows that a larger crowd will be drawn in. Consequently, there would be more business for the establishments.
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Why You Should Check Houses for Sale in Myrtle Beach for Retirement

Why You Should Check Houses for Sale in Myrtle Beach for Retirement | Chicora Real Estate | Scoop.it
Perhaps you picture yourself in your golden years lounging on a sandy shore, enjoying a great view of the vast blue ocean and feeling the warm breeze on your skin. If you want a place that promises a perfect combination of beach living and recreation, start checking houses for sale in Myrtle Beach, SC now. Here are the top reasons why many consider Myrtle Beach a retirement paradise. Low Taxes Retirees flock to South Carolina each year for its lower tax rates. In fact, the state has been ranked as one of the Top Ten Most Tax-Friendly States for retirees by business and finance resource, Kiplinger.com. When it comes to income tax, the state offers a generous tax deduction for retirement incomes, and excludes Social Security benefits. Seniors also have the privilege of homestead exemption. With its relatively lower cost of living and tax rates, Myrtle Beach is considered as one of the country’s most affordable cities to live in.
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Condos for Sale in North Myrtle Beach, SC, Selling Quicker

Condos for Sale in North Myrtle Beach, SC, Selling Quicker | Chicora Real Estate | Scoop.it
Personal finance advice-giving website nerdwallet.com listed Myrtle Beach as one of the best places to start a business in South Carolina in their April 6, 2015 article. South Carolina is one of the most business-friendly states in the entire U.S., and local departments such as the Department of Commerce has been ensuring that it will always remain as one of the best places to invest in. The state offers many different incentives to the local business, like job tax credits, no state property tax, no local income tax, and many more. These incentives, along with the rich number of tourists—approximately 14 million annually, thanks to the many activities and the best sceneries in South Carolina—make Myrtle Beach a favorable venue to reside in as well.
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