Myrtle Beach · Downsizing
Downsizing to a Smaller Home in Myrtle Beach, SC
Less house, less upkeep, a home that actually fits how you live now.
A Quick Note
This page is general information, not legal, tax, insurance, or lending advice. Tax rules, HOA documents, and insurance requirements vary and change, so please confirm what applies to you with your CPA, your attorney, and your insurance agent. I am a real estate professional, and my part is the search, the purchase, and fitting it around your sale.
Find My Smaller Myrtle Beach Home
Downsizing in Myrtle Beach, Near What You Use
Downsizing in Myrtle Beach is a chance to live close to what you actually use: the shops, restaurants, and theater at The Market Common, the airport beside it, or the ocean and the Boardwalk. Whichever it is, if one-floor living matters, I check for an elevator, the walk from parking to the door, and a primary suite on the main level first. Local to Coastal Realty takes that list into every showing.
If you want a daily walk without driving to it, look at what came out of the old air base. The city says the base closed in 1993 and the land was redeveloped as the Market Common District, with an urban town center and a Grand Park of open space, recreation fields, a large lake, and several walking and bicycling trails. A smaller home or condo within walking distance of that park is a different daily life from one by the ocean, and I will show you both so you can feel the difference.
Condo Documents, and the Neighbors' Rentals
Ask for the declaration, bylaws, rules, budget, reserves, dues history, and the master insurance policy: who covers the building, who covers the inside of the unit, and whether a special assessment is coming. Then check the zone. If the building sits where the city allows rentals under 90 days, weekly guests may be part of life there; in districts beginning with R, other than RMV, the city does not allow them. I get all of it before your due diligence period runs out.
Tax, Insurance, and the Veteran Exemption
If the smaller home is your legal residence, South Carolina assesses it at 4 percent and exempts it from school operating millage, once you apply. Inside the city on Horry County's 2026 levies, that is about 145.5 mills, roughly $2,037 a year on a $350,000 home. Flood insurance is required on a federally backed loan for a building in a Special Flood Hazard Area. A veteran who is permanently and totally disabled from a service-connected disability can have the home exempted from property tax entirely under South Carolina law; see VA buyers in Myrtle Beach.
Timing It Around Your Sale
If you are selling a bigger house at the same time, settle the order first. Sell first and use a short rental or a negotiated stay after closing, buy first if your lender approves both payments, or make an offer that depends on your sale. If the bigger house is in North Carolina, I am licensed in both states and run both sides. My page on downsizing your Myrtle Beach home covers the selling side. Call me and we will start with your list.
Sources
The tax and insurance points above come from these sources, checked in October 2026. Confirm the details for your situation with your CPA, attorney, insurance agent, and the county.
- South Carolina Code, Title 12, Chapter 43, Section 12-43-220, assessment ratios
- South Carolina Code, Title 12, Chapter 37, Section 12-37-220, property tax exemptions
- Horry County Auditor, 2026 tax levies
- City of Myrtle Beach, Know Your Zone: short-term rentals
- City of Myrtle Beach, The Market Common
- FEMA, flood risk and lending requirements
- IRS Topic 701, Sale of your home
- City of Myrtle Beach, About Myrtle Beach (the Market Common District and Grand Park)
Frequently Asked Questions
Will my condo building have weekly renters?
It depends on the zone and the association's rules. The city does not allow rentals under 90 days in districts beginning with R, other than RMV.
What is the property tax on a smaller home I live in?
Inside the city on Horry County's 2026 levies, about 145.5 mills on a 4 percent assessment, roughly $2,037 a year on $350,000, once you apply for the legal residence rate.
Should I buy before I sell?
Only if your lender approves both payments and you are comfortable carrying them. I lay out selling first, buying first, and a contingent offer with your numbers.
Myrtle Beach
What downsizing looks like in Myrtle Beach
The Grand Strand's Boardwalk, SkyWheel, and Broadway at the Beach, with golf and shopping close by.
Myrtle Beach holds a 1.2-mile Oceanfront Boardwalk, the 187-foot SkyWheel, and shopping at Broadway at the Beach and The Market Common.
The Grand Strand comprises 14 communities along 60 miles of coastline, and Myrtle Beach calls itself the Golf Capital of the World.
The method
How we do it in Myrtle Beach
Downsizing: keep exploring
Ready to make your move with Local to Coastal Realty?