Pros and Cons of Buying a Second Home in Myrtle Beach: Is It the Right Move for You?

Let’s talk second homes.

Myrtle Beach is a dream destination — endless sandy beaches, top-tier golf courses, and a lifestyle that screams relaxation meets opportunity. It’s no surprise so many people think, “Wouldn’t it be great to have a second home here?” And you know what? It CAN be a great move — if you do it right.

But let’s be real: Buying a second home isn’t just about sipping margaritas by the ocean. There are pros, there are cons, and there’s a smart way to do it so that your investment works for YOU.

So, let’s dive into the real-deal pros and cons of buying a second home in Myrtle Beach — because if you’re going to do this, you should do it the right way.

✅ PRO: You Get a Built-In Vacation Spot (That’s YOURS!)

Let’s start with the obvious — a second home in Myrtle Beach means you always have a place to escape to. No more fighting for overpriced rental properties during peak season. No more wondering if the hotel pool will be packed.

This is YOUR home. You come and go as you please. Stay for a weekend or the entire summer. Host family and friends without worrying about availability.

💡 Pro Tip: If you visit Myrtle Beach regularly, owning a second home can actually save you money over time compared to booking hotels or vacation rentals every year.

✅ PRO: A Second Home Can Generate Rental Income

Here’s where things get interesting. Your second home doesn’t have to just sit there waiting for your next trip. It can pay for itself.

✔ Short-Term Rentals (Airbnb/VRBO) – Myrtle Beach is one of the top vacation rental markets on the East Coast, meaning you can rent your home when you’re not using it and generate some serious income.
✔ Mid-Term Rentals (MTRs) – Cater to snowbirds, traveling nurses, or digital nomads who want month-to-month stays. Less turnover, more stability.
✔ Long-Term Rentals – Not visiting often? Rent it out annually and let someone else cover your mortgage.

📊 Potential Earnings:

• Short-Term Rentals: $3,500 – $7,500/month (depending on location, occupancy, and seasonality).
• Mid-Term Rentals: $2,700 – $4,000/month (for 30+ day stays).
• Long-Term Rentals: $1,800 – $3,500/month (depending on size and amenities).

💡 Pro Tip: If you want to Airbnb your home, make sure the community or HOA allows it. Some areas in Myrtle Beach have rental restrictions, so do your homework before buying.

✅ PRO: Real Estate in Myrtle Beach Is More Affordable Than Other Coastal Markets

If you’ve been eyeing a second home in places like Florida or California, you know how insanely expensive those markets can be. But in Myrtle Beach? You get more for your money.

✔ Median Home Price (Myrtle Beach): ~$350,000
✔ Median Home Price (Florida Beach Towns): $600,000 – $1M+
✔ Median Home Price (California Beach Towns): $1.5M+

Bottom line? Myrtle Beach gives you the same beachfront lifestyle—without the million-dollar price tag.

❌ CON: Managing a Second Home Takes Work

Let’s be honest — a second home is still a home, and homes require upkeep.

If you’re only visiting a few times a year, who’s going to:
✔ Mow the lawn?
✔ Handle repairs?
✔ Make sure there’s no storm damage?

💡 Solution: Hire a property manager. Whether you’re renting it out or just keeping it for personal use, having someone local to check on the home, handle maintenance, and manage guests (if needed) is a game-changer.

❌ CON: Market Fluctuations Can Impact Your Investment

Real estate is a smart long-term play, but the market does have ups and downs. If you’re buying a second home as an investment, you need to be prepared for:

✔ Seasonal slowdowns – Myrtle Beach thrives in spring and summer, but off-season rentals might dip.
✔ Changes in property values – Like any market, values can fluctuate.
✔ Economic downturns – If the economy slows, vacation rental demand could decrease.

💡 Pro Tip: If you plan to rent your home, don’t rely solely on peak-season income. Have a backup plan to cover costs during slower months.

❌ CON: Owning a Second Home Comes with Additional Costs

Buying a second home isn’t just about the mortgage—there are extra expenses to factor in.

💰 Common Costs of Owning a Second Home:
✔ Property Taxes & Insurance – Coastal properties often have higher insurance rates due to hurricanes.
✔ HOA Fees – Many resort-style communities have monthly HOA fees for maintenance and amenities.
✔ Utilities & Maintenance – Even if you’re not there, you’ll still pay for water, electricity, landscaping, and upkeep.

💡 Pro Tip: Work with an experienced agent (like me!) who can help you calculate all costs upfront—so there are no surprises.

Final Verdict: Should You Buy a Second Home in Myrtle Beach?

So, is buying a second home in Myrtle Beach a smart move?

✔ If you love visiting Myrtle Beach and want a personal getaway — YES.
✔ If you want to generate rental income and build wealth through real estate — YES.
✔ If you aren’t prepared for the costs or maintenance — MAYBE NOT.

Thinking about buying a second home? Let’s crunch the numbers, tour the best properties, and make sure this investment works for you.